/General/General%209.png?width=1280&height=853&name=General%209.png)
Healthcare Provider Update: Healthcare Provider for Advantage Solutions: Advantage Solutions typically collaborates with various insurance providers and plans for their healthcare offerings, primarily through partnerships with large national insurers such as UnitedHealthcare and Anthem, among others. These partnerships allow Advantage Solutions to provide a diverse range of health plans and options for their employees and clients. Overview of Potential Healthcare Cost Increases in 2026: As the healthcare landscape evolves, significant hikes in Affordable Care Act (ACA) premiums are anticipated in 2026, with some states experiencing increases exceeding 60%. The driving forces behind these surging costs include escalating medical expenses, the potential loss of enhanced federal premium subsidies, and sizeable rate hikes requested by major insurers. Industry analysts suggest that without intervention to extend these subsidies, over 22 million marketplace enrollees could face out-of-pocket premium increases of more than 75%. This impending financial strain casts a shadow over the current healthcare market landscape, compelling consumers to adopt proactive strategies to mitigate the financial impact. Click here to learn more
Most Advantage Solutions employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.
Granted value
Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.
Know your grants
The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all Advantage Solutions employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:
- Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
- Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
- Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
- Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.
FAFSA Required
Featured Video
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a Advantage Solutions employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the 401(k) plan offered by Advantage Solutions?
The 401(k) plan at Advantage Solutions is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or Roth after-tax basis.
How does Advantage Solutions match employee contributions to the 401(k) plan?
Advantage Solutions offers a matching contribution to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.
Can employees at Advantage Solutions choose how to invest their 401(k) funds?
Yes, employees at Advantage Solutions can select from a variety of investment options within the 401(k) plan, including mutual funds and other investment vehicles.
What is the eligibility requirement for Advantage Solutions’ 401(k) plan?
Employees of Advantage Solutions are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.
Is there a vesting schedule for the Advantage Solutions 401(k) match?
Yes, Advantage Solutions has a vesting schedule for the matching contributions, meaning employees must work for a certain period before they fully own the matched funds.
How can Advantage Solutions employees enroll in the 401(k) plan?
Employees can enroll in the Advantage Solutions 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What are the contribution limits for the Advantage Solutions 401(k) plan?
The contribution limits for the Advantage Solutions 401(k) plan are set by the IRS and may change annually; employees should refer to the latest IRS guidelines for the current limits.
Can Advantage Solutions employees take loans against their 401(k) accounts?
Yes, Advantage Solutions allows employees to take loans against their 401(k) accounts, subject to specific terms and conditions outlined in the plan.
What happens to my 401(k) if I leave Advantage Solutions?
If you leave Advantage Solutions, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it with Advantage Solutions.
Does Advantage Solutions provide financial education regarding the 401(k) plan?
Yes, Advantage Solutions offers resources and workshops to help employees understand their 401(k) options and make informed investment decisions.
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)