Healthcare Provider Update: Healthcare Provider for XPO Logistics XPO Logistics partners with various healthcare insurance providers to offer its employees coverage options, particularly through their employee benefits package. The specific provider may vary depending on geographic location and the chosen plan, but prominent national insurers typically include companies like UnitedHealthcare, Anthem, and Aetna. Anticipated Healthcare Cost Increases in 2026 As health care costs are projected to rise significantly in 2026, XPO Logistics employees may face increases in premiums that could exceed 75% due to expiring federal subsidies under the Affordable Care Act (ACA). Factors contributing to this surge include escalating medical expenses, reported rate hikes by major insurers, and the potential reduction of consumer protections. Employees should prepare for these challenges by reviewing their coverage options and budgeting accordingly, as the combination of heightened costs and reduced support can substantially impact their financial well-being in the coming years. 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 XPO Logistics.
1. Mental Benefits
Working during your XPO Logistics 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 XPO Logistics 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 XPO Logistics 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 XPO Logistics.
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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 is the 401(k) plan offered by XPO Logistics?
The 401(k) plan at XPO Logistics is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How can I enroll in the XPO Logistics 401(k) plan?
Employees can enroll in the XPO Logistics 401(k) plan through the employee benefits portal or by contacting the HR department for assistance.
Does XPO Logistics match contributions to the 401(k) plan?
Yes, XPO Logistics offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the maximum contribution limit for the XPO Logistics 401(k) plan?
The maximum contribution limit for the XPO Logistics 401(k) plan is determined by the IRS guidelines, which may change annually.
Can I change my contribution percentage to the XPO Logistics 401(k) plan?
Yes, employees can change their contribution percentage to the XPO Logistics 401(k) plan at any time through the employee benefits portal.
When can I start withdrawing from my XPO Logistics 401(k) plan?
Employees can typically start withdrawing from their XPO Logistics 401(k) plan without penalties after reaching the age of 59½.
What investment options are available in the XPO Logistics 401(k) plan?
The XPO Logistics 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.
Is there a vesting schedule for the XPO Logistics 401(k) plan?
Yes, XPO Logistics has a vesting schedule for employer contributions, which means employees must work for a certain period to fully own the employer's match.
How often can I change my investment options in the XPO Logistics 401(k) plan?
Employees can change their investment options in the XPO Logistics 401(k) plan as often as they like, typically on a quarterly basis.
What happens to my XPO Logistics 401(k) plan if I leave the company?
If you leave XPO Logistics, you can choose to leave your funds in the plan, roll them over to another retirement account, or cash them out, subject to taxes and penalties.
5. BenefitsPRO, 2017