Healthcare Provider Update: Healthcare Provider for United Natural Foods United Natural Foods, Inc. (UNFI) typically partners with major national health insurers for employee healthcare benefits. Although specific partnerships can vary over time and may depend on employee location and plan selection, large insurance providers such as UnitedHealthcare and Anthem Blue Cross Blue Shield are common choices among employers in the food distribution sector. Potential Healthcare Cost Increases in 2026 As we head into 2026, United Natural Foods employees should brace for significant increases in healthcare costs. With the anticipated expiration of enhanced federal subsidies under the Affordable Care Act, many could see out-of-pocket premiums rise dramatically-by as much as 75% for some. Additionally, systemic medical inflation and rising pharmaceutical prices, particularly for specialty drugs, further exacerbate these cost pressures. As employers navigate this challenging landscape, a major shift in healthcare benefits is expected, with many companies likely to pass a greater share of expenses onto employees in an effort to mitigate rising healthcare expenditures. Click here to learn more
Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a United Natural Foods-sponsored plan. You may also gain more investment options than what may have been available in your United Natural Foods-sponsored plan. You may also gain oversight of managing these important retirement assets from your trusted Advisor.
If you roll your retirement plan assets over into an IRA account that you already own through your Advisor, you also receive the benefit of combined statements and holistic investment planning, making it easier to track your overall financial situation.
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Some of the benefits of rolling your money into an IRA include:
Tax-deferred growth potential: This generally avoids current income tax and distribution penalties when removed from a United Natural Foods-sponsored retirement plan.
More investment choices: This allows for additional contributions, if eligible. IRAs can be combined and handled by one provider, thereby reducing trustee costs and consolidating statements. Protection from creditors in federal bankruptcy proceedings. The combined amount of your required minimum distributions (RMDs) can be taken from any of your Traditional, SEP or SIMPLE IRAs.
However, there are also some important considerations that United Natural Foods should make before rolling over their money into an IRA, these include:
- Internal management fees might be higher than in a United Natural Foods-sponsored retirement plan.
- Fees and expenses depend largely on the investments you choose.
- Loans from an IRA are not allowed.
- Early distributions may be subject to a 10% IRS tax penalty in addition to income tax.
- RMDs begin April 1 following the year you reach 70½ and annually thereafter; leaving the money in the former Fortune-500 plan may allow RMDs to be delayed until separation from service.
- IRAs are subject to state laws governing malpractice, divorce, creditors (outside of bankruptcy), and other lawsuits; leaving the money in the former United Natural Foods-plan may provide additional protection against creditors.
- Net unrealized appreciation (NUA) is the difference between what you paid for employer securities and their increased value. You lose favorable tax treatment of NUA if the funds are rolled into an IRA.
Hopefully, these insights will be helpful as you plan your retirement from United Natural Foods.
For more information about this topic, view our e-book here: https://retirekit.theretirementgroup.com/will-your-retirement-plan-retire-with-you-e-brochure-offer
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What is the 401(k) plan offered by United Natural Foods?
The 401(k) plan at United Natural Foods 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 United Natural Foods 401(k) plan?
You can enroll in the United Natural Foods 401(k) plan by accessing the employee portal and completing the enrollment process during the designated enrollment period.
Does United Natural Foods offer a company match for the 401(k) contributions?
Yes, United Natural Foods offers a company match on employee contributions to the 401(k) plan, helping to boost your retirement savings.
What is the maximum contribution limit for the United Natural Foods 401(k) plan?
The maximum contribution limit for the United Natural Foods 401(k) plan is in accordance with IRS guidelines, which may change annually. For 2023, the limit is $22,500 for employees under age 50.
Can I change my contribution percentage to the United Natural Foods 401(k) plan?
Yes, employees can change their contribution percentage to the United Natural Foods 401(k) plan at any time through the employee portal.
What investment options are available in the United Natural Foods 401(k) plan?
The United Natural Foods 401(k) plan offers a variety of investment options, including mutual funds and target-date funds, to help employees diversify their retirement savings.
When can I access my funds from the United Natural Foods 401(k) plan?
You can access your funds from the United Natural Foods 401(k) plan upon reaching retirement age, or in cases of hardship or termination of employment, subject to plan rules.
Does United Natural Foods allow loans against my 401(k) balance?
Yes, United Natural Foods allows employees to take loans against their 401(k) balance, subject to certain terms and conditions outlined in the plan.
What happens to my 401(k) plan if I leave United Natural Foods?
If you leave United Natural Foods, you can choose to roll over your 401(k) balance to another retirement account, cash out, or leave it in the United Natural Foods plan if allowed.
Is there a vesting schedule for the United Natural Foods 401(k) company match?
Yes, United Natural Foods has a vesting schedule for the company match, which means you must work for a certain period before you fully own the matched contributions.
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