Healthcare Provider Update: Healthcare Provider for Brink's Brink's employees have access to healthcare through various insurance providers depending on their selected plans. Notably, some of the major national insurers like UnitedHealthcare and Anthem may be involved, particularly as employees explore options in the ACA marketplace. As healthcare plans can differ between locations and employment types, it's advisable for employees to consult their HR department for specific provider details tailored to their needs. Potential Healthcare Cost Increases in 2026 As 2026 approaches, Brink's employees should be prepared for significant healthcare cost increases tied to the ACA marketplace. Insurers are poised to propose premium hikes of up to 66% in certain states, impacting overall affordability of healthcare. The expiration of enhanced federal premium subsidies may leave many employees facing out-of-pocket costs that could surge by over 75%. With many companies, including Brink's, likely shifting more healthcare expenses onto their employees, understanding benefit adjustments and planning for these rising costs will be crucial for maintaining financial health in the coming year. 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 Brink's.
1. Mental Benefits
Working during your Brink's 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 Brink's 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 Brink's 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 Brink's.
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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 Brink's offer to its employees?
Brink's offers a 401(k) retirement savings plan to its employees.
How can Brink's employees enroll in the 401(k) plan?
Brink's employees can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department.
Does Brink's offer a company match for the 401(k) contributions?
Yes, Brink's offers a company match for employee contributions to the 401(k) plan, subject to specific terms and conditions.
What is the maximum contribution limit for Brink's 401(k) plan?
The maximum contribution limit for Brink's 401(k) plan is determined by the IRS guidelines, which can change annually.
Can Brink's employees change their contribution percentage to the 401(k) plan?
Yes, Brink's employees can change their contribution percentage at any time by accessing their account online or contacting HR.
What investment options are available in Brink's 401(k) plan?
Brink's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.
When can Brink's employees start withdrawing from their 401(k) plan?
Brink's employees can start withdrawing from their 401(k) plan at age 59½, or earlier under certain circumstances, such as financial hardship.
Does Brink's provide educational resources for employees regarding their 401(k) plan?
Yes, Brink's provides educational resources and workshops to help employees understand their 401(k) plan and make informed investment decisions.
Are there any fees associated with Brink's 401(k) plan?
Yes, Brink's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.
What happens to a Brink's employee's 401(k) if they leave the company?
If a Brink's employee leaves the company, they can roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Brink's plan if allowed.
5. BenefitsPRO, 2017