Discover the Top 5 Advantages of Continuing to Work in Retirement for Timken Employees

Healthcare Provider Update: Healthcare Provider for Timken Timken employees typically receive healthcare coverage through major insurers, with plans varying based on the specific benefits structure offered by the company. A primary provider for many of Timken's employees is Anthem Blue Cross Blue Shield, although specifics may vary by location and employer plan details. Potential Healthcare Cost Increases in 2026 As 2026 approaches, healthcare costs for Timken employees are expected to rise significantly. Premiums in the Affordable Care Act (ACA) marketplace are projected to increase sharply, with some states potentially seeing hikes of over 60%. This increase is driven by factors such as the expected expiration of enhanced federal premium subsidies, high medical cost inflation, and substantial profit margins reported by major insurers. Consequently, Timken employees may be required to shoulder a greater portion of healthcare expenses as their companies adjust benefit structures to mitigate rising costs, which could result in out-of-pocket expenses rising dramatically for many employees. 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 Timken.

 

1. Mental Benefits

Working during your Timken 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 Timken 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 Timken 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 Timken.

Articles you may find interesting:

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