Healthcare Provider Update: Asbury Automotive Group Healthcare Provider Information Asbury Automotive Group primarily utilizes Aetna as its healthcare provider for employee health benefits. Healthcare Cost Increases in 2026 With the landscape of healthcare evolving, Asbury Automotive Group employees and retirees are poised to face significant challenges as healthcare costs surge in 2026. Projections indicate that many ACA health insurance premiums may rise dramatically, with some states reporting increases exceeding 60%. This alarming trend is largely attributed to the expiration of enhanced federal subsidies and ongoing medical cost inflation. Employees should brace for potential out-of-pocket premiums to increase by over 75%, affecting their financial planning and healthcare access prior to Medicare eligibility. It is crucial for members of the Asbury Automotive Group to proactively evaluate their healthcare strategies and budget accordingly to mitigate the impact of these rising costs. Click here to learn more
In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002.(1) As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits you can enjoy after you retire from Asbury Automotive Group.
1. Mental Benefits
Working during your Asbury Automotive Group retirement can help maintain mental agility as you learn new skills. Staying engaged in work helps build 'mental muscle,' which can lessen the risk of developing dementia and Alzheimers(2) and ward off the signs of aging.
2.. Physical Benefits
Staying active during your Asbury Automotive Group retirement years is crucial for continued health. Whether you choose to work full-time or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.
3. Financial Benefits
Besides the obvious extra income, working during your Asbury Automotive Group retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security, your benefits can increase by an average of 8 percent annually.(3) Finding a strategy that works for you can truly pay off.
4. Emotional Benefits
Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your years or retirement from Asbury Automotive Group.
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- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
5. Social Benefits
One of the risks associated with retirement is increased isolation, which in terms of its impact on your health, has been equated with smoking nearly a pack of cigarettes a day.5 Working with others reduces this risk, giving you a chance to build connections and enjoy meaningful interactions.
Sources
1. AARP.org, February/March 2015
2. Forbes, 2017
3. Social Security Administration, 2017
4. Association for Psychological Science, 2017
What type of retirement savings plan does Asbury Automotive Group offer to its employees?
Asbury Automotive Group offers a 401(k) retirement savings plan to its employees.
How can employees of Asbury Automotive Group enroll in the 401(k) plan?
Employees of Asbury Automotive Group can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting their HR representative.
Does Asbury Automotive Group provide matching contributions to the 401(k) plan?
Yes, Asbury Automotive Group provides matching contributions to the 401(k) plan, subject to specific terms and conditions.
What is the maximum contribution limit for the Asbury Automotive Group 401(k) plan?
The maximum contribution limit for the Asbury Automotive Group 401(k) plan is in line with IRS regulations, which may change annually.
Are employees of Asbury Automotive Group eligible to take loans from their 401(k) accounts?
Yes, employees of Asbury Automotive Group may have the option to take loans from their 401(k) accounts, subject to the plan’s rules.
When can employees of Asbury Automotive Group start withdrawing from their 401(k) accounts?
Employees of Asbury Automotive Group can start withdrawing from their 401(k) accounts at age 59½, or earlier under certain circumstances.
What investment options are available in the Asbury Automotive Group 401(k) plan?
The Asbury Automotive Group 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.
Can employees of Asbury Automotive Group change their contribution percentage to the 401(k) plan?
Yes, employees of Asbury Automotive Group can change their contribution percentage at any time, following the guidelines set by the plan.
Does Asbury Automotive Group offer financial education resources for its 401(k) plan participants?
Yes, Asbury Automotive Group provides financial education resources to help employees understand their 401(k) options and investment strategies.
Is there a vesting schedule for the employer match in the Asbury Automotive Group 401(k) plan?
Yes, there is a vesting schedule for the employer match in the Asbury Automotive Group 401(k) plan, which dictates when employees fully own the matched funds.
5. BenefitsPRO, 2017