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Healthcare Provider Update: Healthcare Provider for Carter's Carter's, a well-known children's apparel company, primarily utilizes Anthem Blue Cross Blue Shield as its healthcare provider. This partnership allows employees to access a range of health benefits including medical, dental, and vision coverage. Potential Healthcare Cost Increases in 2026 As 2026 approaches, employees at Carter's should brace for significant rises in healthcare costs. A reported trend indicates that many large employers, including Carter's, are likely to increase deductibles and out-of-pocket maximums in response to soaring healthcare expenses, heavily influenced by anticipated double-digit premium hikes in the ACA marketplace. Without the renewal of enhanced federal subsidies, workers could see their premiums spike by over 75%, compounding the financial burden already tied to rising medical costs driven by inflation and escalating prescription drug prices. Preparing for these adjustments now by reviewing benefits and optimizing healthcare strategies will be crucial for mitigating these potential increases. 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 Carter's.
1. Mental Benefits
Working during your Carter'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 Carter'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 Carter'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 Carter's.
Articles you may find interesting:
- 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!
- 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 Carter's offer to its employees?
Carter's offers a 401(k) retirement savings plan to its employees.
Is participation in the 401(k) plan at Carter's mandatory?
Participation in Carter's 401(k) plan is voluntary for employees.
What is the eligibility requirement for Carter's 401(k) plan?
Employees at Carter's are eligible to participate in the 401(k) plan after completing a specified period of employment, typically outlined in the employee handbook.
Does Carter's match employee contributions to the 401(k) plan?
Yes, Carter's offers a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.
How can employees at Carter's enroll in the 401(k) plan?
Employees can enroll in the Carter's 401(k) plan by completing the enrollment process through the company's benefits portal.
What types of investment options are available in Carter's 401(k) plan?
Carter'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.
Can employees change their contribution percentage to the 401(k) plan at Carter's?
Yes, employees at Carter's can change their contribution percentage to the 401(k) plan at any time, subject to plan rules.
What is the vesting schedule for employer contributions in Carter's 401(k) plan?
The vesting schedule for employer contributions in Carter's 401(k) plan is detailed in the plan documents and typically requires employees to work for a certain number of years before fully owning the employer match.
When can employees at Carter's withdraw funds from their 401(k) accounts?
Employees can withdraw funds from their Carter's 401(k) accounts upon reaching retirement age, or under certain circumstances such as financial hardship, as defined by the plan.
Does Carter's provide educational resources for employees regarding their 401(k) plan?
Yes, Carter's provides educational resources and workshops to help employees understand their 401(k) plan options and investment strategies.
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5. BenefitsPRO, 2017