Healthcare Provider Update: Healthcare Provider for Applied Materials: Applied Materials has established a partnership with the Health Advocate for its employee healthcare services. This organization is focused on providing a comprehensive benefits platform, offering resources to help employees navigate their healthcare options effectively. Potential Healthcare Cost Increases in 2026: As 2026 approaches, employees at Applied Materials should brace for significant increases in healthcare costs. Recent projections indicate that healthcare premiums in many states could jump by over 60%, compounded by the anticipated expiration of enhanced federal subsidies. Medical inflation, escalating pharmaceutical prices, and moderating economic conditions are contributing factors, with some employees facing the prospect of a 75% rise in out-of-pocket costs. By understanding these trends and preparing early, employees can take proactive measures to manage their healthcare expenses in the challenging landscape ahead. Click here to learn more
Most Applied Materials 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 Applied Materials 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 Applied Materials employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the 401(k) plan offered by Applied Materials?
The 401(k) plan at Applied Materials 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 Applied Materials match employee contributions to the 401(k) plan?
Applied Materials offers a company match on employee contributions to the 401(k) plan, which helps employees maximize their retirement savings.
When can I enroll in the 401(k) plan at Applied Materials?
Employees at Applied Materials can enroll in the 401(k) plan during their initial onboarding or during the annual open enrollment period.
What are the contribution limits for the Applied Materials 401(k) plan?
The contribution limits for the Applied Materials 401(k) plan are set according to IRS guidelines, which may change annually.
Can I take a loan against my 401(k) plan with Applied Materials?
Yes, Applied Materials allows employees to take loans against their 401(k) plan, subject to certain terms and conditions.
What investment options are available in the Applied Materials 401(k) plan?
The Applied Materials 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How can I access my 401(k) account information at Applied Materials?
Employees can access their 401(k) account information through the online portal provided by the plan administrator for Applied Materials.
What happens to my 401(k) if I leave Applied Materials?
If you leave Applied Materials, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it with Applied Materials.
Does Applied Materials offer financial education resources for employees regarding the 401(k) plan?
Yes, Applied Materials provides financial education resources and workshops to help employees make informed decisions about their 401(k) savings.
Can I change my contribution percentage to the Applied Materials 401(k) plan at any time?
Yes, employees can change their contribution percentage to the Applied Materials 401(k) plan at any time, subject to plan rules.