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

Discover 9 Surprising Insights About Social Security for Oshkosh Employees That Could Transform Your Retirement Planning

Healthcare Provider Update: Healthcare Provider for Oshkosh Corporation Oshkosh Corporation typically works with health insurance providers such as Anthem Blue Cross Blue Shield and other local insurance carriers to offer healthcare coverage to its employees. Specific healthcare plan details may vary depending on the employee's location and role within the company, taking into account the healthcare landscape and statutory requirements in those regions. Blog Post Paragraph on Potential Healthcare Cost Increases in 2026 As healthcare costs continue to rise, Oshkosh Corporation employees should prepare for significant increases in their ACA premiums beginning in 2026. With projections indicating that national average premiums could escalate by up to 18%, many states may witness hikes exceeding 60%. The anticipated increase is driven by factors such as the expiration of enhanced federal premium subsidies and ongoing medical inflation, leading to higher out-of-pocket expenses for millions. For employees considering retirement or those enrolled in ACA plans, understanding these shifts will be crucial for effective financial planning and ensuring continued access to affordable healthcare coverage. Click here to learn more

Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how it works, but how much do you really know? If you work for Oshkosh, here are nine things that might surprise you.

The Social Security trust fund is huge. At $2.9 trillion at the end of 2018, it exceeds the gross domestic product (GDP) of every economy in the world except the ten largest: China, the European Union, the United States, India, Japan, Germany, Russia, Indonesia, Brazil, and The United Kingdom.
Most workers including those at Oshkosh are eligible for Social Security benefits, but not all. For example, until 1984, federal government employees were part of the Civil Service Retirement System and were not covered by Social Security.
As an employee of Oshkoshk, you don’t have to work long to be eligible. If you were born in 1929 or later, you need to work for 10 or more years to be eligible for benefits.
Benefits are based on an individual’s average earnings during a lifetime of work under the Social Security system. The calculation is based on the 35 highest years of earnings. If an individual has years of low earnings or no earnings, Social Security may count those years to bring the total years to 35.

Those at Oshkosh may also want to consider how there hasn't always been cost-of-living adjustments (COLA) in Social Security benefits. Before 1975, increasing benefits required an act of Congress; now increases happen automatically, based on the Consumer Price Index. There was a COLA increase of 2.9% in 2019, but there was only an increase of 2% in 2018.
Social Security is a major source of retirement income for 67% of current retirees, including those at Oshkosh.
Social Security benefits are subject to federal income taxes — but it wasn’t always that way. In 1983, Amendments to the Social Security Act made benefits taxable, starting with the 1984 tax year.
Social Security recipients received a single lump-sum payment from 1937 until 1940. One-time payments were considered “payback” to those people who contributed to the program. Social Security administrators believed these people would not participate long enough to be vested for monthly benefits.