Healthcare Provider Update: Viatris Healthcare Provider Information Viatris, as a global healthcare company, partners with a variety of healthcare providers to ensure that high-quality medicines are accessible to patients. While specific healthcare partnerships vary by region and the type of products offered, Viatris focuses on collaborating with providers involved in specialty pharmaceuticals and chronic disease management. This includes partnerships with hospitals, clinics, and pharmacies to enhance patient health outcomes through innovative solutions and patient access programs. Brief Overview of Potential Healthcare Cost Increases in 2026 As healthcare costs continue to rise, Viatris employees may face significant increases in their out-of-pocket expenses starting in 2026. Projections indicate that premiums for Affordable Care Act (ACA) marketplace plans could surge, with some states experiencing hikes of over 60%. This surge stems from a confluence of factors, including the expected expiration of enhanced federal premium subsidies and ongoing medical inflation, which is projected to exacerbate the burden on consumers. Companies are also revising their employee health plans, potentially leading to higher deductibles and more substantial cost-sharing, placing greater financial pressure on employees seeking affordable healthcare coverage. 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 Viatris.
1. Mental Benefits
Working during your Viatris 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 Viatris 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 Viatris 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 Viatris.
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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!
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- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
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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 is the Viatris 401(k) plan?
The Viatris 401(k) plan is a retirement savings plan that allows eligible employees to save for retirement through pre-tax and/or Roth contributions.
How can I enroll in the Viatris 401(k) plan?
You can enroll in the Viatris 401(k) plan by accessing the employee benefits portal and following the enrollment instructions provided there.
What is the employer match for the Viatris 401(k) plan?
Viatris offers a matching contribution to the 401(k) plan, which may vary based on your contributions and the company's policy. You should refer to the plan documents for specific details.
When can I start contributing to the Viatris 401(k) plan?
Eligible employees can start contributing to the Viatris 401(k) plan after completing the required waiting period, typically within the first few months of employment.
What types of contributions can I make to the Viatris 401(k) plan?
Employees can make pre-tax contributions, Roth contributions, and potentially after-tax contributions to the Viatris 401(k) plan, depending on the specific plan provisions.
Are there any fees associated with the Viatris 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Viatris 401(k) plan. You can find detailed information in the plan's fee disclosure document.
How does the Viatris 401(k) plan help me save for retirement?
The Viatris 401(k) plan allows you to save for retirement on a tax-advantaged basis, helping you grow your savings over time through contributions and potential employer matching.
Can I take a loan from my Viatris 401(k) plan?
Yes, the Viatris 401(k) plan may allow loans, subject to certain conditions and limits. You should review the plan documents or consult the HR department for specific details.
What happens to my Viatris 401(k) plan if I leave the company?
If you leave Viatris, you will have several options for your 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it with Viatris, depending on the plan's rules.
How often can I change my contributions to the Viatris 401(k) plan?
You can typically change your contribution amount to the Viatris 401(k) plan at least once per year or during designated enrollment periods.
5. BenefitsPRO, 2017