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Healthcare Provider Update: Healthcare Provider for Henry Schein Henry Schein, Inc. is recognized as the world's largest provider of healthcare solutions for office-based dental and medical practitioners. The company distributes a wide range of products, including dental and medical supplies, equipment, and pharmaceuticals, making it a key player in the healthcare market. Potential Healthcare Cost Increases in 2026 As 2026 approaches, healthcare costs are projected to rise significantly, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Record premium hikes are expected, with some states eyeing increases exceeding 60%. This steep rise is primarily driven by escalating medical costs, the looming expiration of federal premium subsidies, and aggressive rate increases from major insurers. Without action from Congress to extend these enhanced subsidies, many enrollees may face out-of-pocket premium increases of over 75%, transforming healthcare affordability into a critical issue for millions. Click here to learn more
Most Henry Schein 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 Henry Schein 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 Henry Schein employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the purpose of the 401(k) plan offered by Henry Schein?
The purpose of the 401(k) plan offered by Henry Schein is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.
How can employees enroll in the Henry Schein 401(k) plan?
Employees can enroll in the Henry Schein 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
What types of contributions can employees make to the Henry Schein 401(k) plan?
Employees can make pre-tax contributions, Roth (after-tax) contributions, and potentially catch-up contributions if they are age 50 or older in the Henry Schein 401(k) plan.
Does Henry Schein offer any matching contributions to the 401(k) plan?
Yes, Henry Schein offers a matching contribution to the 401(k) plan, which helps employees boost their retirement savings.
What is the vesting schedule for the Henry Schein 401(k) matching contributions?
The vesting schedule for Henry Schein’s matching contributions typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a specified period.
Can employees take loans against their 401(k) balance at Henry Schein?
Yes, employees may have the option to take loans against their 401(k) balance at Henry Schein, subject to the plan's terms and conditions.
What investment options are available in the Henry Schein 401(k) plan?
The Henry Schein 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock, allowing employees to diversify their portfolios.
How often can employees change their contribution amounts in the Henry Schein 401(k) plan?
Employees can typically change their contribution amounts in the Henry Schein 401(k) plan on a quarterly basis or as specified by the plan’s rules.
What happens to the 401(k) plan if an employee leaves Henry Schein?
If an employee leaves Henry Schein, they have several options for their 401(k) plan, including rolling it over to another retirement account, cashing it out (subject to taxes and penalties), or leaving it in the Henry Schein plan if allowed.
Are there any fees associated with the Henry Schein 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Henry Schein 401(k) plan, which are disclosed in the plan documents.
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