New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Hasbro Employees: Navigating the Rising Costs of College Tuition for Your Family

Healthcare Provider Update: Hasbro provides health insurance benefits to its U.S. employees, including medical, dental, and prescription coverage. The company supports employee wellness through Health Savings Accounts (HSAs), disability and life insurance, and an onsite fitness center. Additional benefits include paid parental leave, tuition reimbursement, and pet insurance 3. Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more

It doesn’t take a degree in finance to see the cost of college continues to rise.

In its 2017 report, the College Board showed that public four-year institutions raised prices an average of 3.2% annually between the 2007-08 and 2017-18 school years. Put another way, a $5,000 education in 2007-08 would cost $6,851 in 2017-18.

For a few families, the lion’s share of education costs falls on parents and, in some cases, on grandparents. For our Hasbro clients who are parents you may already know, generally, the majority of families rely on a combination of scholarships, grants, financial aid, part-time jobs, and parent support to help pay the cost.

For Hasbro employees who have children approaching college age, a good first step is estimating the potential costs. The accompanying worksheet can help you get a better idea about the cost of a four-year college.

For Hasbro employees who already put money away for college, the worksheet will take that amount into consideration. For Hasbro employees who haven’t, it’s never too late to start.

Resources

There are a number of resources that can help individuals prepare for college. The U.S. government distributes certain information on colleges and costs. Here are two sites for these Hasbro employees to consider reviewing:

www.studentaid.ed.gov
The government’s college and financial aid portal.

Featured Video

Articles you may find interesting:

www.collegeboard.org
The group that administers the SAT test.

Estimating the Cost of College

Estimating the Cost of College

What is Hasbro's 401(k) plan?

Hasbro's 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or after-tax basis for retirement.

How does Hasbro match employee contributions to the 401(k) plan?

Hasbro offers a matching contribution to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.

When can employees at Hasbro start contributing to the 401(k) plan?

Employees at Hasbro can begin contributing to the 401(k) plan after completing their initial eligibility period, which is typically outlined in the employee handbook.

What investment options are available in Hasbro's 401(k) plan?

Hasbro's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees grow their retirement savings.

Can employees at Hasbro take loans against their 401(k) savings?

Yes, Hasbro allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan document.

What happens to my 401(k) plan if I leave Hasbro?

If you leave Hasbro, you have several options for your 401(k) plan, including rolling it over to an IRA, transferring it to a new employer's plan, or cashing it out.

Does Hasbro offer financial education resources for employees regarding the 401(k) plan?

Yes, Hasbro provides financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

Are there any fees associated with Hasbro's 401(k) plan?

Yes, Hasbro's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents provided to employees.

How often can employees at Hasbro change their 401(k) contribution amount?

Employees at Hasbro can change their 401(k) contribution amount during designated enrollment periods or as specified in the plan guidelines.

What is the vesting schedule for Hasbro's 401(k) matching contributions?

Hasbro has a vesting schedule for matching contributions, meaning employees must work for the company for a certain period before they fully own the matching funds.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Company Pension Plan Information: Name of Pension Plan: For Hasbro, this is typically called the "Hasbro Pension Plan." Years of Service and Age Qualification: Employees generally need a minimum number of years of service (often 5 years) and must meet a specific age requirement (often 65 years old) to qualify for full pension benefits. The exact details can vary, so I will verify these specifics. 401(k) Plan Information: Name of 401(k) Plan: This is usually referred to as the "Hasbro 401(k) Plan." Eligibility: Generally, employees are eligible for participation in the 401(k) plan after a specified period of employment, commonly after 30 days to 1 year

Restructuring and Layoffs: In early 2023, Hasbro announced a significant restructuring plan involving a workforce reduction of about 15% to streamline operations and reduce costs. This move was part of a broader strategy to optimize the company's portfolio and focus on its most profitable lines. The layoffs primarily affected roles in sales and marketing as Hasbro shifted towards digital and direct-to-consumer models. Given the current economic environment, where companies are adjusting to post-pandemic market conditions and inflationary pressures, it is essential to stay informed about such changes as they can impact job security and market stability.

In 2022, Hasbro provided stock options (SO) and restricted stock units (RSU) as part of its compensation package to key executives and high-performing employees. The stock options had a vesting schedule over several years, while RSUs were typically granted with a performance or time-based vesting period

Healthcare Benefits (2022-2024): Hasbro offers a comprehensive benefits package, including health insurance plans (medical, dental, and vision), wellness programs, and mental health support. The company provides coverage through major providers and includes preventive care, prescription drug coverage, and access to a network of healthcare professionals.

Additional Articles

Check Out Articles for Hasbro employees

For more information you can reach the plan administrator for Hasbro at , ; or by calling them at .

https://www.thelayoff.com/ https://pensionrights.org/ https://shop.hasbro.com/worldwide https://www.linkedin.com/uas/login?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fhasbro%2Fbenefits%2F https://www.hasbrobenefits.com/