What Acuity Brands Employees Should Know About Caring for Aging Parents
Healthcare Provider Update: Healthcare Provider for Acuity Brands
Acuity Brands, a leading provider of lighting and building management solutions, primarily offers its healthcare benefits through large national insurers such as UnitedHealthcare. Employees may access these plans to cover a variety of medical needs, reflecting the competitive landscape for employer-sponsored health insurance.
Potential Healthcare Cost Increases in 2026
Looking ahead to 2026, Acuity Brands employees should brace for significant healthcare cost increases. Record premium hikes are anticipated in the Affordable Care Act (ACA) marketplace, with some states experiencing increases as steep as 66%. Coupled with the expiration of enhanced federal premium subsidies, many employees may see their out-of-pocket costs soar by over 75%. Companies across the U.S. are responding to rising healthcare expenses by adjusting benefit structures, which may further impact the affordability of coverage for employees.
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'Many Acuity Brands employees underestimate how caregiving responsibilities may influence their long-term planning. To prepare thoughtfully and involve the right professionals, it's important to start these conversations early.' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.
'Many Acuity Brands employees face unexpected pressure when aging parent responsibilities arise. I believe early planning and open family communication can help households navigate these challenges with greater clarity.' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.
In this article, we will discuss:
Key warning signs that aging parents may need additional support.
Essential legal and health care preparations to help families stay organized.
How to coordinate family involvement and emotional readiness during caregiving.
Many Acuity Brands employees in their mid-50s to early 60s come to discover that their retirement planning may have to expand to include the needs of their aging parents. As America’s population grows older, adult children frequently take on caregiving responsibilities for parents facing health issues, financial weaknesses, and cognitive decline. These realities influence family dynamics, investments, estate planning, taxes, and emotional well-being.
“Your parents' financial vulnerabilities become your financial stress unless you plan ahead and take a proactive role,” explains Brent Wolf, CFP®, an advisor at Wealth Enhancement.
Below are key considerations for individuals ages 55 to 65 who are preparing to support elderly parents.
1. Recognize the Early Signs of Cognitive Decline
For many families, cognitive decline in an aging parent typically appears gradually. Early warning signs may include:
- Repeatedly forgetting conversations
- Missing or duplicating bill payments
- Confusion about routine transactions
- Financial decisions influenced by new “friends”
- Unusual wire transfers or unexpected spending changes
Your role is not to diagnose—your role is to observe and speak up early. By addressing concerns promptly, you, your family, and your advisory team can potentially help mitigate the risk of future financial or cognitive harm.
2. Put Durable Power of Attorney and a Trusted Contact in Place
If a parent becomes cognitively impaired without a durable power of attorney, families often face a costly, lengthy conservatorship process. Acuity Brands employees can address this by planning ahead.
Consider getting the following key documents in place:
- A trusted contact authorization
- Durable Power of Attorney for finances
- HIPAA releases and health care power of attorney
- Updated beneficiary designations, wills, and trusts
These steps can help reduce uncertainty and lessen the risk of financial exploitation should a parent become more vulnerable.
3. Prepare for Health Care Shock: Medicare Has Gaps
Many households are surprised by how much Medicare does not cover. Common out-of-pocket costs include:
- Long-term custodial care (memory care, assisted living, in-home support)
- Prescription drugs
- Private caregivers and care managers
- Out-of-pocket deductibles and co-pays
To plan effectively, Acuity Brands employees should understand:
- What your parents’ insurance covers
- Their likely care expenses
- Whether self-funding or long-term care strategies may fit
- Whether Medicaid planning (with its five-year look-back) should begin early
Health care decisions become more urgent if cognitive decline is a concern.
4. Guard Your Parents Against Financial Abuse
Financial abuse is a growing threat for older adults—including parents of Acuity Brands employees. Common scams include:
- Romance schemes
- Fake IRS, FedEx, or government calls
- “Grandchild in trouble” scams
- Caregiver misconduct
- Pressure from acquaintances or distant relatives
- Fraudulent investment pitches
Adult children often hesitate to intervene, but silence can increase risk. Advisors can help monitor accounts, identify unusual activity, and place temporary holds when needed.
5. Organize the “Invisible” Parts of Their Financial Life
By age 80, even financially experienced parents may struggle to keep up with routine obligations such as:
- Required minimum distributions
- Quarterly tax payments
- Charitable documentation
- Insurance renewals
- Online passwords
- Property tax deadlines
- Portfolio withdrawal planning
Advisors can help reduce errors by automating tasks, consolidating accounts, and simplifying processes.
6. Bring the Entire Family Into the Conversation Early
The most challenging situations often arise when adult children learn of issues only after a crisis. Acuity Brands employees may benefit from:
- Annual family meetings
- Clear conversations about parents’ wishes
- Defined caregiving and financial roles
- Discussions around independence and dignity
Proactive communication may helps mitigate conflict and avoid last-minute decisions during emergencies.
7. Prepare Yourself Emotionally and Financially
Caring for aging parents can influence:
- Retirement timing
- Your ability to continue working
- Your cash flow
- Your mental and emotional resilience
Advisors can help you develop:
- A dedicated “parent care fund”
- Tax-efficient withdrawal strategies
- Cash flow outlines that factor in elder care
- Estate plans that reflect multigenerational needs
With thoughtful planning, supporting your parents does not have to disrupt your retirement goals—even for Acuity Brands employees navigating complex benefits.
8. Build a Team-Based Approach
Families caring for elderly parents often benefit from a coordinated team that may include:
- A financial advisor
- An attorney with experience working with seniors
- Tax specialist
- Geriatric care manager
- Estate planning attorney
- Health care advocates
Working together, these professionals can help manage risk for both parents and adult children through a unified strategy.
Conclusion
Aging is inevitable—but it does not have to create chaos. Early planning, while parents are still capable, can lessen emotional strain, help minimize family conflict, and ideally reduce the likelihood of financial harm.
“The best gift you can give your aging parents is structure, clarity, and a financial advocate who supports them when they can no longer support themselves,” says Brent Wolf.
For Acuity Brands employees ages 55 to 65, now is the time to act.
Taking the Next Step
The Retirement Group can help you design a Parent Care Plan that includes financial oversight, health care review, legal preparation, and fraud monitoring.
To speak with a team member who can guide you through each stage of the process, call
(800) 900-5867
.
We are here to support you, your parents, and your family through every stage of life.
What is the 401k/Savings Plan offered by Acuity Brands?
The 401k/Savings Plan at Acuity Brands is a retirement savings plan that allows employees to save a portion of their paycheck on a pre-tax or after-tax basis for their future retirement.
How can I enroll in the Acuity Brands 401k/Savings Plan?
Employees can enroll in the Acuity Brands 401k/Savings Plan by completing the online enrollment process through the company's benefits portal or by contacting HR for assistance.
Does Acuity Brands offer a company match for the 401k/Savings Plan?
Yes, Acuity Brands offers a company match for contributions made to the 401k/Savings Plan, which helps employees boost their retirement savings.
What is the vesting schedule for the Acuity Brands 401k/Savings Plan?
The vesting schedule for the Acuity Brands 401k/Savings Plan typically outlines the period an employee must work at the company to fully own the employer's contributions, which can vary based on tenure.
Can I take a loan against my Acuity Brands 401k/Savings Plan?
Yes, Acuity Brands allows employees to take a loan against their 401k/Savings Plan, subject to specific terms and conditions outlined in the plan documents.
What investment options are available in the Acuity Brands 401k/Savings Plan?
The Acuity Brands 401k/Savings Plan offers a variety of investment options, including mutual funds, target date funds, and other asset classes to help employees diversify their portfolios.
How often can I change my contribution amount to the Acuity Brands 401k/Savings Plan?
Employees can change their contribution amount to the Acuity Brands 401k/Savings Plan at any time, typically through the benefits portal or by contacting HR.
What happens to my Acuity Brands 401k/Savings Plan if I leave the company?
If you leave Acuity Brands, you have several options for your 401k/Savings Plan, including rolling it over to another retirement account, cashing it out (subject to taxes and penalties), or leaving it in the plan if eligible.
Is there a minimum contribution requirement for the Acuity Brands 401k/Savings Plan?
Yes, Acuity Brands may have a minimum contribution requirement for the 401k/Savings Plan, which is typically outlined in the plan documents.
Can I contribute to the Acuity Brands 401k/Savings Plan if I am part-time?
Yes, part-time employees at Acuity Brands may be eligible to contribute to the 401k/Savings Plan, depending on the specific eligibility criteria set by the company.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Acuity Brands announced a significant restructuring plan aimed at optimizing its operational efficiency. This involves layoffs of approximately 10% of its workforce, primarily in the manufacturing and administrative sectors. Additionally, the company is revising its pension plan to reduce future liabilities and enhancing its 401(k) match to retain key employees.
For more information you can reach the plan administrator for Acuity Brands at 1170 Peachtree Street NE, Suite 2300 Atlanta, GA 30309; or by calling them at (404) 853-1400.
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