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Healthcare Provider Update: Healthcare Provider for CSX: CSX Corporation has partnered with Aetna, a division of CVS Health, to provide healthcare benefits for its employees. This collaboration allows CSX employees access to a wide range of health services and insurance plans tailored to meet their specific needs. Potential Healthcare Cost Increases in 2026: In 2026, CSX and its employees may face significant healthcare cost challenges, as the landscape for health insurance is set to experience considerable changes. With proposed premium hikes in the Affordable Care Act marketplace reaching as much as 66% in some states, the potential expiration of enhanced federal premium subsidies may exacerbate out-of-pocket expenses for many enrollees. A forecast indicates that over 22 million individuals could see their premiums increase by more than 75%, driven by rising medical costs and insurers' aggressive rate adjustments. This surge in costs could create financial strain not only for individual employees but also for the company's overall healthcare budget, necessitating strategic planning and proactive measures for 2026. Click here to learn more
Addressing the potential risks of extended-term care expenses may be one of the biggest financial challenges for CSX employees who are developing a retirement strategy.
Seven in ten CSX employees over age 65 can expect to need extended care services at some point in their lives. So understanding the various types of extended care services – and what those services may cost – is critical as you consider your retirement approach.
What Is Extended Care?
Extended care is not a single activity. It refers to a variety of medical and non–medical services needed by those who have a chronic illness or disability – most commonly associated with aging.
Extended care can include everything from assistance with activities of daily living – help dressing, bathing, using the bathroom, or even driving to the store – to more intensive therapeutic and medical care requiring the services of skilled medical personnel.
Extended care may be provided at home, at a community center, in an assisted living facility, or in a skilled nursing home. And extended care is not exclusively for the elderly; it is possible to need extended care at any age.
How Much Does Extended Care Cost?
Extended care costs vary state by state and region by region. The 2021 national average for care in a skilled care facility (single occupancy in a nursing home) was $108,405 a year. The national average for care in an assisted living center (single occupancy) was $54,000 a year. Home health aides cost a median of $27 per hour, but that rate may increase when a licensed nurse is required.
What Are the Payment Choices?
Often, extended care is provided by family and friends. Providing care can be a burden, however, and the need for assistance tends to increase with age.
CSX employees who would rather not burden their family and friends have two main choices for covering the cost of extended care: they can choose to self-insure or they can purchase extended care insurance.
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Many self-insure by default – simply because they haven't made other arrangements. Those who self-insure may depend on personal savings and investments to fund any extended care needs. The other approach is to consider purchasing extended care insurance, which can cover all levels of care, from skilled care to custodial care to in-home assistance.
When it comes to addressing your extended care needs, many look to select a strategy that may help them protect assets, preserve dignity, and maintain independence. If those concepts are important to you, consider your approach to extended care.
GenWorth.com, 2022
ACL.gov, 2022
What is the purpose of the 401(k) plan at CSX?
The 401(k) plan at CSX is designed to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.
How can CSX employees enroll in the 401(k) plan?
CSX employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does CSX offer a company match for 401(k) contributions?
Yes, CSX offers a company match for 401(k) contributions, which allows employees to increase their retirement savings.
What is the maximum contribution limit for CSX employees under the 401(k) plan?
The maximum contribution limit for CSX employees under the 401(k) plan is determined by the IRS and may change annually. Employees should check the latest IRS guidelines for the current limit.
Can CSX employees take loans against their 401(k) savings?
Yes, CSX allows employees to take loans against their 401(k) savings, subject to certain conditions and limits outlined in the plan documents.
What investment options are available in CSX's 401(k) plan?
CSX's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.
When can CSX employees start withdrawing from their 401(k) plan?
CSX employees can start withdrawing from their 401(k) plan at age 59½, or earlier under certain circumstances, such as financial hardship.
Is there a vesting schedule for CSX's 401(k) company match?
Yes, CSX has a vesting schedule for the company match, which means employees must work for a certain period to fully own the matched contributions.
How often can CSX employees change their 401(k) contribution amount?
CSX employees can change their 401(k) contribution amount at any time, subject to the plan's guidelines and payroll processing schedules.
What happens to a CSX employee's 401(k) if they leave the company?
If a CSX employee leaves the company, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the CSX plan if permitted.
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