Healthcare Provider Update: Ametek's Healthcare Provider and Insights on 2026 Cost Increases Ametek utilizes various healthcare providers for its employee benefits, with notable participation in the Affordable Care Act (ACA) marketplace for health insurance. In 2026, Ametek employees may experience significant increases in healthcare costs due to a projected sharp rise in ACA premiums, with average rate hikes forecasted to hover around 20%. The combination of expiring federal premium subsidies and soaring medical expenses-partly driven by inflationary pressures on healthcare services-could lead to shocking out-of-pocket costs, with some policyholders facing premium increases of over 75%. As employees weigh their options, it is crucial to assess both employer-sponsored plans and ACA alternatives early to mitigate financial impacts. Click here to learn more
Most Ametek 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 Ametek 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
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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 Ametek employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is Ametek's 401(k) plan?
Ametek's 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted, helping them to build a nest egg for retirement.
How can I enroll in Ametek's 401(k) plan?
Employees can enroll in Ametek's 401(k) plan by completing the enrollment process through the company's benefits portal or by contacting the HR department for assistance.
Does Ametek match contributions to the 401(k) plan?
Yes, Ametek offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the maximum contribution limit for Ametek's 401(k) plan?
The maximum contribution limit for Ametek's 401(k) plan follows the IRS guidelines, which are updated annually. Employees should check the latest limits on the IRS website or through Ametek's benefits resources.
Can I change my contribution percentage to Ametek's 401(k) plan?
Yes, employees can change their contribution percentage to Ametek's 401(k) plan at any time, typically through the benefits portal.
When can I access my Ametek 401(k) funds?
Employees can access their Ametek 401(k) funds upon reaching retirement age, or in certain circumstances such as financial hardship, as outlined in the plan's guidelines.
What investment options are available in Ametek's 401(k) plan?
Ametek's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose investments that align with their retirement goals.
How often can I change my investments in Ametek's 401(k) plan?
Employees can change their investment selections in Ametek's 401(k) plan at any time, subject to the specific rules of the investment options chosen.
Is there a vesting schedule for Ametek's 401(k) matching contributions?
Yes, Ametek has a vesting schedule for matching contributions, which means employees must work for the company for a certain period to fully own those contributions.
What happens to my Ametek 401(k) if I leave the company?
If an employee leaves Ametek, they have several options for their 401(k), including rolling it over to another retirement account, cashing it out (subject to taxes and penalties), or leaving it in the Ametek plan if eligible.
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