Healthcare Provider Update: Healthcare Provider for Encompass Health Encompass Health Corporation operates as a leader in post-acute healthcare services, particularly offering rehabilitation services through a network of inpatient rehabilitation hospitals, outpatient rehabilitation clinics, and home health agencies. Their integrated care model emphasizes rehabilitation for patients recovering from illness or injury, including stroke recovery, brain injury rehabilitation, and orthopedic recovery. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are anticipated to rise significantly, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Factors such as the potential expiration of enhanced federal premium subsidies and escalating medical costs could result in premium hikes of over 60% in some states. Reports indicate that nearly 92% of ACA enrollees may face out-of-pocket premium increases exceeding 75%, driven by high utilization of medical services and significant drug costs. Consequently, consumers will need to navigate these changes carefully to manage their healthcare expenses effectively. Click here to learn more
With all of the changes at Encompass Health employees need to know what steps to take before leaving. Retiring, or worse, losing your job, is a monumental (for better or for worse) moment in your life. Your mind is racing, your palms are sweating, and you simply just doesn't know how to operate. The loss of a job, especially for those with over 20 years of service, affects the same receptors in the brain as the loss of a loved one. You have been connected with Encompass Healthfor 20 years, and now the relationship is over. Remember to reach out to Encompass Health HR & Benefits departments for all Encompass Health summary plan descriptions.
The same five stages of grief apply for a person going through retirement, job loss, or the loss of a loved one. Denial, anger, bargaining, depression, and acceptance are a part of the framework that makes up our learning to get through the lack of employment.
As the reality of the situation settles, your emotions will be a mess. You might feel upset one minute, and annoyed the next, and it can be tempting to vent your frustrations. Remember, acting upon impulse almost never turns out well, and can make a difficult situation even worse.
Here are a few items to check off as you consider leaving Encompass Health:
1. Sit down and carefully analyze your finances. If you have a spouse or signifigant other, involve them in this process. Avoid doing financial business with friends or family. Money and friendships do not mix.
2. Call your Credit Union or Bank, and consider opening a line of credit against your home equity. Consider opening additional credit cards to create an emergency credit line. As many of you have been employed your whole life, you probably won't think to do this - once you are unemployed, it becomes exceedingly difficult to get credit, making it very important you take this line of action.
3. Go over your 401(k) contributions, if you were making them. Decide whether or not you should increase your contributions for your remaining time on payroll, or cease them entirely to build up more immediate cash. How you proceed may have big tax implications. Depending on when you stop contributing, you may end up in a much higher tax bracket due to your severance payment, unemployment, etc.
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4. It's not always wise to file for unemployment immediately after the loss of a job. Depending on the time of year you are laid off, paired with your financial situation, it could be beneficial to wait to file your claim so that your unemployment payments fall in the next tax year, when your overall income is lower due to the fact that you're unemployed. There are an overwhelming number of situations that you want to consider before making a move on this. We recommend speaking with a Encompass Health-focused retirement advisor to go over your options.
5. Unless you believe your layoff was deserved, speak to a trusted lawyer to go over your options. Venting your anger at managers and colleagues may feel amazing temporarily, but it will damage your career in the long run. You spent all this time building up your relationships at Encompass Health why burn them now? Avoid going online even anonymously to berate past Encompass Health staff & management.
6. Have a plan for how to fill the void on your LinkedIn profile and your resume. If you are pursuing a new job, having a job makes it much easier when finding your next adventure. In the mean time, you might consider becoming a consultant until you find a permanent position. You may also find the ability go go back to Encompass Health as a contractor working on your terms.
7. Figure out what you will tell your Encompass Health wcoworkers - create your go-to statement and practice it, so you can say it without becoming too emotional. It will be normal for friends and acquaintances to ask, and we assume you won't want to burst into tears or lash out every time the question is popped. However horrible you feel, it's crucial to remain calm and act professional, and try to avoid doing anything that might hinder your reputation or integrity. Remember to stay professional on social media when discussing Encompass Health.
What is the 401(k) plan offered by Encompass Health?
The 401(k) plan offered by Encompass Health is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.
Does Encompass Health offer a matching contribution for the 401(k) plan?
Yes, Encompass Health offers a matching contribution to help employees maximize their retirement savings.
How can employees enroll in the Encompass Health 401(k) plan?
Employees can enroll in the Encompass Health 401(k) plan through the company's benefits portal during the enrollment period or after they become eligible.
What are the eligibility requirements for the Encompass Health 401(k) plan?
To be eligible for the Encompass Health 401(k) plan, employees typically need to meet certain criteria, such as completing a specified period of service.
Can employees make changes to their contributions in the Encompass Health 401(k) plan?
Yes, employees can make changes to their contribution amounts in the Encompass Health 401(k) plan at any time, subject to plan rules.
What investment options are available in the Encompass Health 401(k) plan?
The Encompass Health 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
When can employees start withdrawing funds from their Encompass Health 401(k) plan?
Employees can start withdrawing funds from their Encompass Health 401(k) plan upon reaching the age of 59½, or under certain circumstances such as financial hardship.
Are there penalties for early withdrawal from the Encompass Health 401(k) plan?
Yes, there are typically penalties for early withdrawal from the Encompass Health 401(k) plan unless specific exceptions apply, such as disability or financial hardship.
What happens to an employee's Encompass Health 401(k) plan if they leave the company?
If an employee leaves Encompass Health, they can roll over their 401(k) balance into another retirement account, cash out, or leave the funds in the plan if allowed.
How often does Encompass Health provide statements for the 401(k) plan?
Encompass Health provides regular statements for the 401(k) plan, typically on a quarterly basis, detailing account balances and investment performance.