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

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

Healthcare Provider Update: Healthcare Provider for GXO Logistics GXO Logistics employees utilize the services provided through various health insurance companies, particularly those participating in the Affordable Care Act (ACA) marketplace. These providers vary by location and may include major insurers like UnitedHealthcare, Anthem, and others, depending on the state in which the employees reside. Anticipated Healthcare Cost Increases in 2026 As employees of GXO Logistics prepare for 2026, they should brace for considerable healthcare cost increases driven primarily by surging insurance premiums in the ACA marketplace. Reports indicate that many states will experience steep hikes, with some insurers proposing increases exceeding 60%. This trend is largely attributed to rising medical costs, projected losses of enhanced federal premium subsidies, and the pressure on employers to shift more healthcare costs onto workers. As a result, GXO Logistics employees could face significantly higher out-of-pocket expenses, making it crucial to review benefit selections and options available early in the upcoming enrollment period. Click here to learn more

Most GXO Logistics 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 GXO Logistics 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 GXO Logistics employee could secure may surprise you.

Finder.com, 2019

StudentAid.gov, 2020

What is the 401(k) plan offered by GXO Logistics?

The 401(k) plan at GXO Logistics is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

How can I enroll in the 401(k) plan at GXO Logistics?

Employees can enroll in the GXO Logistics 401(k) plan by completing the enrollment form available on the company’s HR portal or by contacting the HR department for assistance.

Does GXO Logistics offer a company match for the 401(k) contributions?

Yes, GXO Logistics offers a company match for employee contributions to the 401(k) plan, which helps employees maximize their retirement savings.

What is the vesting schedule for the GXO Logistics 401(k) company match?

The vesting schedule for the GXO Logistics 401(k) company match typically follows a graded vesting schedule, where employees earn ownership of the company match over a period of years.

Can I change my contribution percentage to the GXO Logistics 401(k) plan?

Yes, employees can change their contribution percentage to the GXO Logistics 401(k) plan at any time by submitting a request through the HR portal.

What types of investment options are available in the GXO Logistics 401(k) plan?

The GXO Logistics 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

When can I start withdrawing funds from my GXO Logistics 401(k) account?

Employees can start withdrawing funds from their GXO Logistics 401(k) account without penalty after reaching the age of 59½, although there are specific rules regarding hardship withdrawals.

How does GXO Logistics handle loan provisions in the 401(k) plan?

The GXO Logistics 401(k) plan allows employees to take loans against their account balance, subject to certain limits and repayment terms.

Is there a minimum contribution requirement for the GXO Logistics 401(k) plan?

Yes, there is a minimum contribution requirement for the GXO Logistics 401(k) plan, which is typically set at a percentage of the employee's salary.

What happens to my GXO Logistics 401(k) account if I leave the company?

If you leave GXO Logistics, you can choose to roll over your 401(k) balance to another retirement account, cash out your balance (subject to taxes and penalties), or leave it in the GXO Logistics plan if you have a sufficient balance.

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

Pension Plan Name of Pension Plan: GXO Logistics does not appear to offer a traditional defined benefit pension plan. The company primarily provides a 401(k) plan for retirement savings. Years of Service and Age Qualification: Not applicable for a traditional pension plan as GXO Logistics does not provide one. Pension Formula: Not applicable as there is no traditional pension plan. Source Document: Information on the lack of a traditional pension plan is available in the company's annual report and benefits guide. 401(k) Plan Name of 401(k) Plan: GXO Logistics 401(k) Plan Qualification Criteria: Employees are generally eligible to participate in the 401(k) plan after 30 days of employment. Eligibility details may vary based on employment status and job role. 401(k) Plan Details: The company matches contributions up to a certain percentage of employee contributions. Specific match rates and contribution limits are detailed in the plan documents.

GXO Logistics has been undergoing significant restructuring in 2023, focusing on optimizing its operations and expanding its technology-driven logistics solutions. The company announced a series of layoffs as part of its efforts to streamline operations and reduce costs. This restructuring move is aimed at enhancing operational efficiency and positioning the company for future growth in the evolving logistics market. As economic and investment conditions fluctuate, it's crucial to stay informed about such developments. Changes in company structure and workforce can have broader implications for the job market and investment landscape.

GXO Logistics Stock Options: GXO Logistics typically offers stock options to executives and key employees as part of their compensation package. The specific terms of these options, including vesting schedules and exercise prices, are detailed in the company’s annual proxy statements and financial reports. RSUs: GXO Logistics provides RSUs to a broader range of employees, including senior management and high-performing employees. The vesting of RSUs usually occurs over a period of several years, with the specific vesting conditions outlined in the company’s equity compensation plan.

Company Official Website Healthcare Coverage: GXO Logistics offers a range of health benefits including medical, dental, and vision insurance. Plans often include options for Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Terms and Acronyms: HSA: Health Savings Account FSA: Flexible Spending Account HDHP: High Deductible Health Plan EAP: Employee Assistance Program LinkedIn Healthcare Plans: Information on LinkedIn highlights that GXO provides comprehensive health plans that may include wellness programs and preventive care services. Employee Feedback: Reviews mention that benefits are competitive, but the extent of coverage can vary depending on the employee's role and location. Glassdoor Benefits Details: Employees have reported that GXO offers a standard benefits package including medical, dental, and vision insurance, with some flexibility in choosing plans. There are also mentions of additional perks like wellness initiatives. Recent Updates: No major changes to health benefits were noted in recent reviews. Indeed Healthcare Benefits: Similar to other sources, Indeed confirms GXO’s provision of health insurance options including HSAs and FSAs. Employee reviews often highlight the benefits package as a positive aspect of working for GXO. Acronyms: Commonly used terms include PPO (Preferred Provider Organization) and EPO (Exclusive Provider Organization). Company News Outlets Recent Employee Healthcare News: GXO has been focusing on enhancing employee wellness programs. Recent news includes investments in mental health resources and expanding telemedicine options. No significant recent changes to core health benefits were reported.