What IQVIA Holdings Employees Should Know About Caring for Aging Parents
Healthcare Provider Update: Healthcare Provider for IQVIA Holdings
IQVIA Holdings operates as a leading global provider of advanced analytics, technology solutions, and contract research services focused on the healthcare sector. It collaborates with various stakeholders in the life sciences industry, including pharmaceutical companies, biotech firms, and healthcare payers, to improve patient outcomes and streamline healthcare operations.
Brief Overview of Potential Healthcare Cost Increases in 2026
Healthcare costs are projected to rise significantly in 2026, driven largely by anticipated increases in Affordable Care Act (ACA) premiums, with some states expecting hikes exceeding 60%. The expiration of enhanced federal premium subsidies could force over 22 million Americans to see their out-of-pocket costs soar by more than 75%. Coupled with rising medical expenses and aggressive rate increases from major insurers, consumers may find themselves increasingly burdened by healthcare costs, necessitating proactive planning and strategic decision-making regarding their health coverage.
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'Many IQVIA Holdings 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 IQVIA Holdings 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 IQVIA Holdings 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. IQVIA Holdings 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, IQVIA Holdings 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 IQVIA Holdings 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. IQVIA Holdings 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 IQVIA Holdings 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 IQVIA Holdings 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 401(k) plan offered by IQVIA Holdings?
The 401(k) plan at IQVIA Holdings is a retirement savings plan that allows employees to save a portion of their salary before taxes are deducted.
Does IQVIA Holdings match employee contributions to the 401(k) plan?
Yes, IQVIA Holdings offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.
What is the eligibility requirement for IQVIA Holdings' 401(k) plan?
Employees of IQVIA Holdings are typically eligible to participate in the 401(k) plan after completing a specified period of service, usually within the first year of employment.
How can employees enroll in the 401(k) plan at IQVIA Holdings?
Employees can enroll in the IQVIA Holdings 401(k) plan through the company's benefits portal or by contacting the HR department for assistance.
What types of investment options are available in the IQVIA Holdings 401(k) plan?
The IQVIA Holdings 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.
Can employees take loans against their 401(k) savings at IQVIA Holdings?
Yes, IQVIA Holdings allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.
What happens to the 401(k) plan if an employee leaves IQVIA Holdings?
If an employee leaves IQVIA Holdings, they have several options for their 401(k) savings, including rolling it over to another retirement account or cashing it out, though taxes and penalties may apply.
Is there a vesting schedule for the employer match in the IQVIA Holdings 401(k) plan?
Yes, IQVIA Holdings has a vesting schedule for the employer match, which means that employees must work for the company for a certain period before they fully own the matched contributions.
How often can employees change their contribution percentage in the IQVIA Holdings 401(k) plan?
Employees can change their contribution percentage to the IQVIA Holdings 401(k) plan at specified intervals, typically during open enrollment or at any time throughout the year.
Does IQVIA Holdings provide financial education resources for employees regarding the 401(k) plan?
Yes, IQVIA Holdings offers financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Name of Pension Plan:
IQVIA Holdings Pension Plan (confirm the exact name from the latest plan documents).
Qualification Requirements:
Years of Service: Typically, employees need to have completed a minimum of 5 years of service.
Age: Generally, employees must reach age 55 to start receiving benefits.
Pension Formula:
The pension formula usually involves a calculation based on the average salary during the highest earning years and years of service. For example, it might be a percentage of the final average salary multiplied by years of service.
IQVIA Holdings 401(k) Plan (verify the exact name from the latest plan documents).
Qualification Requirements:
Employees are generally eligible to participate in the 401(k) plan after completing a probationary period, often around 30 to 90 days of employment.
Restructuring and Layoffs: In early 2024, IQVIA Holdings announced a significant restructuring plan that involved layoffs across various departments. The company's decision to reduce its workforce was attributed to the need for increased operational efficiency and alignment with current market demands. The restructuring aimed to streamline processes and improve overall productivity.
IQVIA Holdings offers stock options and RSUs as part of its compensation package to attract and retain employees. IQVIA Holdings grants are typically provided to senior executives, key employees, and high performers, with specific vesting schedules.
In IQVIA Holdings' 2022 filings, RSUs were granted with a vesting schedule based on performance metrics and tenure. IQVIA Holdings continues to use these grants to align employee interests with company performance.
For IQVIA Holdings in 2023 and 2024, stock options and RSUs are available with updated performance criteria and adjusted grant amounts based on market conditions and individual performance.
Health Benefits: The official IQVIA careers page or employee benefits section typically details their health benefits. This includes medical, dental, vision insurance, and possibly wellness programs.
Terms and Acronyms: Common terms might include PPO (Preferred Provider Organization), HSA (Health Savings Account), FSA (Flexible Spending Account), and EAP (Employee Assistance Program).
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