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Healthcare Provider Update: Healthcare Provider for PVH PVH Corp., known for its popular brands such as Calvin Klein and Tommy Hilfiger, typically utilizes a range of healthcare providers for its employees. These may include major health insurance carriers like UnitedHealthcare, Aetna, and Cigna, depending on the specific needs and regional availability of services. The exact provider can vary based on employee location and plan options. Potential Healthcare Cost Increases in 2026 for PVH As healthcare premiums are anticipated to rise sharply in 2026, PVH could face significant cost increases for its employee health insurance. This surge is driven largely by rising medical costs and the potential expiration of enhanced federal premium tax credits, which could collectively increase out-of-pocket expenses by over 75% for many enrollees. In particular, some states are expecting premium hikes surpassing 60%, placing additional financial pressure on companies like PVH, which will need to strategically assess their healthcare options to manage these impending costs effectively. Click here to learn more
Most PVH 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 PVH 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 PVH employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the primary purpose of PVH's 401(k) Savings Plan?
The primary purpose of PVH's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a tax-deferred basis.
How can employees enroll in PVH's 401(k) Savings Plan?
Employees can enroll in PVH's 401(k) Savings Plan by accessing the enrollment portal through the company’s HR website or by contacting the HR department for assistance.
What types of contributions can employees make to PVH's 401(k) Savings 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 to PVH's 401(k) Savings Plan.
Does PVH offer a company match for the 401(k) contributions?
Yes, PVH offers a company match for employee contributions to the 401(k) Savings Plan, which helps employees maximize their retirement savings.
What is the vesting schedule for the company match in PVH's 401(k) Savings Plan?
The vesting schedule for the company match in PVH's 401(k) Savings Plan typically follows a graded vesting schedule, which means employees earn ownership of the match over a period of time.
Can employees change their contribution percentage to PVH's 401(k) Savings Plan at any time?
Yes, employees can change their contribution percentage to PVH's 401(k) Savings Plan at any time, usually through the online portal or by contacting HR.
What investment options are available in PVH's 401(k) Savings Plan?
PVH's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
Is there a minimum contribution requirement for PVH's 401(k) Savings Plan?
Yes, there is typically a minimum contribution requirement for PVH's 401(k) Savings Plan, which may vary based on the plan's guidelines.
How often can employees make changes to their investment allocations in PVH's 401(k) Savings Plan?
Employees can generally make changes to their investment allocations in PVH's 401(k) Savings Plan on a quarterly basis or as specified by the plan rules.
What happens to an employee's 401(k) balance if they leave PVH?
If an employee leaves PVH, they have several options for their 401(k) balance, including rolling it over to another retirement account, cashing it out (subject to taxes and penalties), or leaving it in the PVH plan if permitted.
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