Healthcare Provider Update: Healthcare Provider for Dentsply Sirona: Dentsply Sirona, a leading provider of dental products and technologies, primarily utilizes a variety of health insurance options for its employees. The specific healthcare provider details may vary by location and employee plan options, but health insurance services are typically offered in conjunction with major providers in the ACA marketplace and private health insurers. Potential Healthcare Cost Increases in 2026: In 2026, Dentsply Sirona employees may face substantial healthcare cost increases as health insurance premiums for Affordable Care Act (ACA) plans are expected to surge dramatically. Several states are anticipating hikes exceeding 60%, largely influenced by the potential expiration of enhanced federal premium subsidies and rising medical costs. As a result, employees might see their out-of-pocket expenses rise significantly-potentially over 75% for many-if subsidies are not renewed, making it crucial for them to evaluate their healthcare options and budget for these changes in advance. Click here to learn more
Addressing the potential risks of extended-term care expenses may be one of the biggest financial challenges for Dentsply Sirona employees who are developing a retirement strategy.
Seven in ten Dentsply Sirona 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.
Dentsply Sirona 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 Dentsply Sirona 401(k) plan?
The Dentsply Sirona 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out, helping them prepare for retirement.
How can Dentsply Sirona employees enroll in the 401(k) plan?
Dentsply Sirona employees can enroll in the 401(k) plan by completing the enrollment process through the company’s benefits portal or by contacting the HR department for assistance.
What is the company match for the Dentsply Sirona 401(k) plan?
Dentsply Sirona offers a company match for contributions made to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.
When can Dentsply Sirona employees start contributing to the 401(k) plan?
Dentsply Sirona employees can start contributing to the 401(k) plan after completing their eligibility period, which is usually outlined in the employee handbook.
What investment options are available in the Dentsply Sirona 401(k) plan?
The Dentsply Sirona 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees grow their savings.
Are there any fees associated with the Dentsply Sirona 401(k) plan?
Yes, there may be administrative fees and fund management fees associated with the Dentsply Sirona 401(k) plan, which are typically disclosed in the plan documents.
Can Dentsply Sirona employees take loans against their 401(k) savings?
Yes, Dentsply Sirona employees may have the option to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What happens to my Dentsply Sirona 401(k) if I leave the company?
If you leave Dentsply Sirona, you can choose to roll over your 401(k) balance to another retirement account, cash out your balance, or leave it in the Dentsply Sirona plan if allowed.
How often can Dentsply Sirona employees change their contribution amount?
Dentsply Sirona employees can typically change their contribution amount at any time, subject to the plan’s guidelines.
Is there a vesting schedule for the Dentsply Sirona 401(k) company match?
Yes, Dentsply Sirona has a vesting schedule for the company match, which means employees must work for a certain period before they fully own the matched funds.
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