New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Autoliv Employees: Unlock the Benefits of the Federal Student Grant Program for Your Family's Education

Healthcare Provider Update: Healthcare Provider for Autoliv For Autoliv employees, the primary healthcare provider associated with their benefits package is Blue Cross Blue Shield. Employees may access various plans under this provider, which often include options tailored to meet a range of healthcare needs. Potential Healthcare Cost Increases in 2026 As Autoliv employees prepare for 2026, they should brace for potential healthcare costs significantly increasing due to various market pressures. Premium rates in the Affordable Care Act (ACA) marketplace are projected to rise sharply, with some states experiencing hikes of over 60%. Additionally, the expiration of enhanced federal premium subsidies will likely result in over 75% of enrollees facing much higher out-of-pocket premiums. This one-two punch of soaring insurer rate hikes and lost subsidies means Autoliv employees may see a substantial increase in their healthcare expenses, requiring careful planning and benefit assessment to mitigate financial strains in the coming year. Click here to learn more

Most Autoliv 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 Autoliv 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 Autoliv employee could secure may surprise you.

Finder.com, 2019

StudentAid.gov, 2020

What is the purpose of Autoliv's 401(k) Savings Plan?

The purpose of Autoliv's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary to a tax-advantaged account.

How can I enroll in Autoliv's 401(k) Savings Plan?

You can enroll in Autoliv's 401(k) Savings Plan by completing the enrollment process through the company's benefits portal or by contacting the HR department for assistance.

Does Autoliv offer a company match for contributions to the 401(k) Savings Plan?

Yes, Autoliv offers a company match for contributions to the 401(k) Savings Plan, which helps employees maximize their retirement savings.

What are the contribution limits for Autoliv's 401(k) Savings Plan?

The contribution limits for Autoliv's 401(k) Savings Plan are set annually by the IRS, and employees should refer to the plan documents or HR for the current limits.

Can I change my contribution amount to Autoliv's 401(k) Savings Plan?

Yes, you can change your contribution amount to Autoliv's 401(k) Savings Plan at any time, typically through the benefits portal or by contacting HR.

When can I start withdrawing from my Autoliv 401(k) Savings Plan?

You can start withdrawing from your Autoliv 401(k) Savings Plan without penalties at age 59½, although you may be able to take loans or hardship withdrawals earlier under certain conditions.

What investment options are available in Autoliv's 401(k) Savings Plan?

Autoliv's 401(k) Savings Plan offers a variety of investment options, including mutual funds and target-date funds, allowing employees to choose investments that align with their retirement goals.

Is there a vesting schedule for Autoliv's 401(k) company match?

Yes, Autoliv has a vesting schedule for the company match in the 401(k) Savings Plan, which determines how much of the matched contributions you own based on your years of service.

How often can I review my investment choices in Autoliv's 401(k) Savings Plan?

You can review and change your investment choices in Autoliv's 401(k) Savings Plan at any time, typically through the plan's online platform.

What happens to my Autoliv 401(k) Savings Plan if I leave the company?

If you leave Autoliv, you can roll over your 401(k) Savings Plan balance to another retirement account, cash it out, or leave it in the plan if you meet certain criteria.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

News: Autoliv has announced a restructuring plan to optimize its operations, which includes layoffs and consolidations across several global locations. Importance: This restructuring is crucial to monitor due to its impact on employment and benefits within the company, reflecting broader trends in the automotive industry as companies adjust to economic uncertainties and evolving market demands. Additionally, these changes could influence pension and 401(k) plans, making it essential for stakeholders to stay informed.