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

Knight-Swift Transportation Holdings Employees: Navigating the Rising Costs of College Tuition for Your Family

Healthcare Provider Update: Healthcare Provider for Knight-Swift Transportation Holdings Knight-Swift Transportation Holdings primarily uses UnitedHealthcare as their healthcare provider for employees. This partnership allows them to offer a range of health insurance products, including comprehensive coverage plans designed to meet the needs of their diverse workforce. Brief Overview of Potential Healthcare Cost Increases in 2026 As we approach 2026, Knight-Swift Transportation Holdings faces the potential for significant healthcare cost increases, driven by sharply rising Affordable Care Act (ACA) premiums across many states. Current projections indicate that premium hikes could exceed 60% in certain markets, exacerbated by the expiration of enhanced federal subsidies. Without legislative action to extend these subsidies, nearly 22 million marketplace enrollees may see their out-of-pocket healthcare costs surge by over 75%. This convergence of steep rate increases and subsidy loss poses substantial financial challenges for both the company and its employees, necessitating proactive financial planning to mitigate the impact on healthcare expenses. 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 Knight-Swift Transportation Holdings 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 Knight-Swift Transportation Holdings 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 Knight-Swift Transportation Holdings employees who already put money away for college, the worksheet will take that amount into consideration. For Knight-Swift Transportation Holdings 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 Knight-Swift Transportation Holdings 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 the 401(k) plan offered by Knight-Swift Transportation Holdings?

The 401(k) plan at Knight-Swift Transportation Holdings is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

How does Knight-Swift Transportation Holdings match employee contributions to the 401(k) plan?

Knight-Swift Transportation Holdings offers a matching contribution up to a certain percentage of the employee's salary, helping to boost retirement savings.

When can employees of Knight-Swift Transportation Holdings enroll in the 401(k) plan?

Employees of Knight-Swift Transportation Holdings can typically enroll in the 401(k) plan during their initial employment onboarding or during the annual open enrollment period.

What types of investment options are available in the Knight-Swift Transportation Holdings 401(k) plan?

The 401(k) plan at Knight-Swift Transportation Holdings offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Is there a vesting schedule for the contributions made by Knight-Swift Transportation Holdings to the 401(k) plan?

Yes, Knight-Swift Transportation Holdings has a vesting schedule that determines how long employees must work to fully own the company’s matching contributions.

Can employees of Knight-Swift Transportation Holdings take loans against their 401(k) savings?

Yes, employees of Knight-Swift Transportation Holdings may be able to take loans against their 401(k) savings, subject to specific plan rules and limits.

What happens to the 401(k) plan if an employee leaves Knight-Swift Transportation Holdings?

If an employee leaves Knight-Swift Transportation Holdings, they can roll over their 401(k) balance into another retirement account, cash out, or leave it in the plan if allowed.

How can employees access their 401(k) account information at Knight-Swift Transportation Holdings?

Employees can access their 401(k) account information through the plan’s online portal or by contacting the plan administrator for assistance.

Does Knight-Swift Transportation Holdings provide educational resources about the 401(k) plan?

Yes, Knight-Swift Transportation Holdings provides educational resources and tools to help employees understand their 401(k) options and make informed investment decisions.

Are there any fees associated with the Knight-Swift Transportation Holdings 401(k) plan?

Yes, there may be administrative and investment fees associated with the Knight-Swift Transportation Holdings 401(k) plan, which are disclosed in the plan documents.

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

Employee Pension Plan: Name of Plan: Review the most recent plan documents or annual reports. Years of Service and Age Qualification: Look into the eligibility criteria, which often involves a certain number of years of service or a minimum age requirement. Pension Formula: This will detail how the pension benefit is calculated based on years of service, salary, and other factors. 401(k) Plan: Name of Plan: Identify the specific name of the 401(k) plan offered. Eligibility: Determine who qualifies for participation in the 401(k) plan, including any service or age requirements.

Restructuring and Layoffs: In early 2024, Knight-Swift Transportation Holdings announced a significant restructuring plan aimed at streamlining operations and improving efficiency. This restructuring involved the reduction of approximately 200 positions across various departments. This move comes as the company seeks to adapt to evolving economic conditions and increased competition in the transportation sector. Addressing this news is crucial due to the current economic climate, which impacts job security and corporate stability. Understanding these changes helps employees and investors navigate the shifting landscape and make informed decisions.

Stock Options: Knight-Swift offers stock options as part of its employee compensation package, which allows employees to purchase company stock at a set price. Stock options are typically granted to executives and key employees as part of their incentive compensation. RSUs: Restricted Stock Units are also granted to employees, with vesting schedules that depend on continued employment and/or performance metrics. RSUs convert into actual shares of stock upon vesting.

2023 Updates: Knight-Swift made several adjustments to their benefits offerings, including enhanced mental health support and wellness initiatives. There was a focus on expanding telehealth services in response to increased demand. 2024 Changes: The company introduced new plan options with lower deductibles and increased coverage for preventative care. There were also efforts to improve access to care for remote employees