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

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Empowering Women at NetApp: 4 Essential Retirement Strategies to Consider

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Healthcare Provider Update: Healthcare Provider for NetApp NetApp employees typically use coverage from major national insurers for their healthcare needs, including UnitedHealthcare and Anthem. Specific provider details may vary based on individual employee plans and geographic location. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are anticipated to rise significantly, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Several states are facing increases exceeding 60%, largely driven by the potential expiration of enhanced federal premium subsidies and ongoing medical cost inflation. As a result, more than 22 million marketplace enrollees could see their out-of-pocket premiums spike by over 75%, placing considerable financial strain on consumers. This situation is compounded by record profit margins reported by major insurers, which have led to substantial rate increases that align poorly with consumer affordability. Click here to learn more

Preparing for retirement at NetApp can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. Research shows that 31% of women are currently or have been caregivers during their careers. Women who are working also tend to put less money aside for retirement. According to one report, women contribute 30% less to their retirement accounts than men.

These numbers may seem overwhelming, but you don’t have to be a statistic. With a little foresight, you can start taking steps now, which may help you in the long run. Here are three steps to consider that may put NetApp employees ahead of the curve.

  •  Talk about money.  Nowadays, discussing money is less taboo than it’s been in the past, and it’s crucial to take control of your financial future. If you’re single, consider writing down your retirement goals and keeping them readily accessible. If you have a partner, make sure you are both on the same page regarding your retirement goals. The more comfortably you can talk about your future, the more confident you may be to make important decisions when they come up.
  •  Be proactive about your retirement after NetApp.  Do you have clear, defined goals for what you want your retirement to look like? And do you know where your NetApp retirement accounts stand today? Being proactive with your NetApp retirement accounts allows you to create a goal-oriented roadmap. It may also help to adapt when necessary and continue their journey regardless of things like relationship status or market fluctuations.
  •  Make room for your future in your budget.  Adjust your budget to allow for retirement savings, just as you would for a new home or your dream vacation. Like any of your other financial goals, you may find it beneficial to review your retirement goals on a regular basis to make sure you’re on track.
  • Retirement may look a little different for women, but with the right strategies – and support – you’ll be able to live the retirement you’ve always dreamed of.
  •  Transamerica.com, 2021
  •  GAO.gov, 2021

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What type of retirement savings plan does NetApp offer to its employees?

NetApp offers a 401(k) savings plan to help employees save for retirement.

Does NetApp match employee contributions to the 401(k) plan?

Yes, NetApp provides a matching contribution to employees who participate in the 401(k) plan, enhancing their retirement savings.

What is the maximum contribution limit for the NetApp 401(k) plan?

The maximum contribution limit for the NetApp 401(k) plan follows the IRS guidelines, which can change annually. Employees should check the latest limits for the current year.

Can employees at NetApp choose how their 401(k) contributions are invested?

Yes, employees at NetApp can choose from a variety of investment options within the 401(k) plan to tailor their savings according to their risk tolerance and retirement goals.

When can employees at NetApp start contributing to their 401(k) plan?

Employees at NetApp can typically start contributing to their 401(k) plan after completing their initial eligibility period, which is outlined in the plan documents.

Does NetApp allow employees to take loans from their 401(k) accounts?

Yes, NetApp's 401(k) plan may allow employees to take loans against their account balance, subject to specific terms and conditions.

What happens to my 401(k) savings if I leave NetApp?

If you leave NetApp, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out, or leaving it in the NetApp plan if allowed.

Is there a vesting schedule for NetApp's 401(k) matching contributions?

Yes, NetApp has a vesting schedule for its matching contributions, which means employees must work for the company for a certain period before they fully own the matched funds.

Can employees at NetApp change their contribution percentage to the 401(k) plan?

Yes, employees at NetApp can change their contribution percentage at any time, subject to the plan's guidelines.

Are there any fees associated with NetApp's 401(k) plan?

Yes, like most 401(k) plans, NetApp's plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

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