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Healthcare Provider Update: Healthcare Provider for NextEra Energy NextEra Energy collaborates with a few key healthcare providers, primarily focusing on offering its employees healthcare benefits through large national insurers. One of the noted providers in this context is UnitedHealthcare, which serves many employees in the organization. --- Potential Healthcare Cost Increases for NextEra Energy in 2026 As we look toward 2026, NextEra Energy and its employees may face significant increases in healthcare costs, driven largely by expected hikes in Insurance premiums. With healthcare insurers projecting average rate increases around 18% to 66.4% in various regions, NextEra Energy's workforce is likely to experience heightened out-of-pocket spending. The potential expiration of enhanced premium subsidies under the Affordable Care Act could exacerbate this situation, leading to average premium costs surging by more than 75% for many enrollees. This perfect storm of rising medical expenses and reduced financial assistance poses a serious challenge for both employers and employees alike. Click here to learn more
Most NextEra Energy 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 NextEra Energy 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 NextEra Energy employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the primary purpose of the 401(k) plan offered by NextEra Energy?
The primary purpose of the 401(k) plan offered by NextEra Energy is to help employees save for retirement in a tax-advantaged way.
How can employees of NextEra Energy enroll in the 401(k) plan?
Employees of NextEra Energy can enroll in the 401(k) plan through the company’s benefits portal during the enrollment period or after they become eligible.
What types of contributions can employees make to the NextEra Energy 401(k) plan?
Employees can make pre-tax contributions, Roth (after-tax) contributions, and, in some cases, catch-up contributions if they are age 50 or older.
Does NextEra Energy offer a company match for 401(k) contributions?
Yes, NextEra Energy offers a company match to eligible employees who contribute to the 401(k) plan, enhancing their retirement savings.
What is the vesting schedule for the company match in NextEra Energy's 401(k) plan?
The vesting schedule for the company match in NextEra Energy's 401(k) plan typically follows a graded vesting schedule, where employees become fully vested after a certain number of years of service.
Can employees take loans against their 401(k) balance at NextEra Energy?
Yes, NextEra Energy allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan.
What investment options are available in the NextEra Energy 401(k) plan?
The NextEra Energy 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
How often can employees change their contribution amounts to the NextEra Energy 401(k) plan?
Employees can change their contribution amounts to the NextEra Energy 401(k) plan at any time, subject to the plan’s guidelines.
What happens to the 401(k) plan if an employee leaves NextEra Energy?
If an employee leaves NextEra Energy, they have several options for their 401(k) plan, including rolling it over to another retirement account, leaving it in the NextEra Energy plan, or cashing it out.
Is there a penalty for withdrawing funds from the NextEra Energy 401(k) plan before retirement age?
Yes, generally, there is a penalty for withdrawing funds from the NextEra Energy 401(k) plan before age 59½, along with potential income tax implications.
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