Healthcare Provider Update: Healthcare Provider for Intuit Intuit, a leading financial software company, primarily utilizes UnitedHealthcare as its healthcare provider. This partnership enables Intuit to offer competitive health benefits and services to its employees, ensuring comprehensive coverage options. Brief on Healthcare Cost Increases in 2026 In 2026, healthcare costs are anticipated to surge dramatically, with many insured individuals feeling the brunt of escalating premiums. Factors contributing to this sharp increase include the loss of enhanced federal subsidies for Affordable Care Act (ACA) marketplace plans, which has the potential to spike out-of-pocket costs by over 75% for the majority of enrollees. Additionally, numerous states are experiencing proposed premium hikes, with some exceeding 60%, primarily fueled by rising medical costs and aggressive rate increases from top insurers. As a result, consumers and employers alike will face significant financial pressures, prompting many to re-evaluate their healthcare options and strategies in light of these challenges. Click here to learn more
Addressing the potential risks of extended-term care expenses may be one of the biggest financial challenges for Intuit employees who are developing a retirement strategy.
Seven in ten Intuit 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.
Intuit 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 type of retirement savings plan does Intuit offer to its employees?
Intuit offers a 401(k) retirement savings plan to its employees.
Does Intuit provide a company match for its 401(k) contributions?
Yes, Intuit offers a company match for employee contributions to the 401(k) plan, subject to certain limits.
How can Intuit employees enroll in the 401(k) plan?
Intuit employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What is the eligibility requirement for Intuit employees to participate in the 401(k) plan?
Most Intuit employees are eligible to participate in the 401(k) plan after completing a specified period of employment, typically within the first year.
Can Intuit employees take loans against their 401(k) savings?
Yes, Intuit allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What investment options are available in Intuit's 401(k) plan?
Intuit's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
How often can Intuit employees change their 401(k) contribution amounts?
Intuit employees can change their 401(k) contribution amounts at any time, subject to the plan's guidelines.
Does Intuit provide financial education resources for employees regarding their 401(k) plans?
Yes, Intuit provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
What happens to my 401(k) savings if I leave Intuit?
If you leave Intuit, you can choose to roll over your 401(k) savings into another qualified retirement plan, cash out, or leave the funds in the Intuit plan, depending on the plan's rules.
Is there a vesting schedule for Intuit's 401(k) company match?
Yes, Intuit has a vesting schedule for the company match, which means employees must work for a certain period to fully own the matched funds.
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