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Healthcare Provider Update: Healthcare Provider for TravelCenters of America TravelCenters of America employees have access to Aetna as their healthcare provider. This partnership typically offers a range of health insurance plans that include medical, dental, and vision coverage, tailored to the needs of their workforce. Potential Healthcare Cost Increases in 2026 As we look ahead to 2026, employees of TravelCenters of America should brace for significant healthcare cost increases. Premiums for Affordable Care Act (ACA) marketplace plans are anticipated to surge, with some states experiencing hikes exceeding 60%. This spike is driven by factors such as the potential end of enhanced federal premium subsidies and rising medical costs, including high-priced treatments and hospitalization expenses. Many large employers, including TravelCenters of America, may respond by shifting more costs onto employees, making it crucial for workers to evaluate their healthcare options and manage expenses proactively as these challenges loom. 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 TravelCenters of America.
1. Mental Benefits
Working during your TravelCenters of America 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 TravelCenters of America 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 TravelCenters of America 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 TravelCenters of America.
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- Corporate Employees: 8 Factors When Choosing a Mutual Fund
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- 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 plan does TravelCenters of America offer to its employees?
TravelCenters of America offers a 401(k) retirement savings plan to its employees.
How can employees of TravelCenters of America enroll in the 401(k) plan?
Employees can enroll in the TravelCenters of America 401(k) plan by completing the enrollment form provided during orientation or through the company's benefits portal.
Does TravelCenters of America match employee contributions to the 401(k) plan?
Yes, TravelCenters of America offers a matching contribution to employees who participate in the 401(k) plan, subject to specific terms and conditions.
What is the eligibility requirement for TravelCenters of America employees to participate in the 401(k) plan?
Generally, employees of TravelCenters of America are eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.
Can employees of TravelCenters of America take loans against their 401(k) savings?
Yes, TravelCenters of America allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What investment options are available in the TravelCenters of America 401(k) plan?
The TravelCenters of America 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How often can employees of TravelCenters of America change their 401(k) contribution amount?
Employees can change their 401(k) contribution amount at any time, subject to the plan's guidelines.
What is the vesting schedule for TravelCenters of America’s 401(k) matching contributions?
The vesting schedule for TravelCenters of America’s 401(k) matching contributions typically follows a graded vesting schedule, which means employees earn ownership of the match over a period of time.
Are there any fees associated with the TravelCenters of America 401(k) plan?
Yes, there may be administrative fees associated with the TravelCenters of America 401(k) plan, which are disclosed in the plan's summary documents.
How can employees of TravelCenters of America access their 401(k) account information?
Employees can access their 401(k) account information through the online benefits portal provided by TravelCenters of America.
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5. BenefitsPRO, 2017