Healthcare Provider Update: Syneos Health and Upcoming Healthcare Costs Healthcare Provider for Syneos Health: Syneos Health primarily collaborates with multiple healthcare providers across various sectors in the healthcare industry, including pharmaceutical companies, biotechnology firms, and medical device manufacturers. Their services typically encompass clinical development, commercialization, and consulting services to help healthcare organizations efficiently manage their clinical trials and product launches. Potential Healthcare Cost Increases in 2026: In 2026, Syneos Health employees may face significant increases in healthcare costs driven by expected premium hikes in ACA marketplace plans. These could exceed 60% in some states, resulting from higher medical expenses and the potential expiration of enhanced federal premium subsidies. With insurers projecting medical cost trends between 7% and 10%, employees should prepare for an increased financial burden. Adjustments in company benefits, including higher deductibles and out-of-pocket maximums, may further impact out-of-pocket expenses, urging employees to carefully review benefit changes and make informed plan selections to navigate the rising costs effectively. Click here to learn more
Are Syneos Health employees responsible for the damage caused by a tree on their property that hits their neighbor’s home or other insured structure, such as a garage or shed?
In most cases, the answer is “no.”
When such damage occurs to your neighbor’s home due to forces outside your control (e.g., weather events), your neighbors may have to file a claim with their insurer to receive a reimbursement for the damage a fallen down tree caused.
There is one exception, however.
If it is determined that the tree damage stems from your negligence (e.g., dead limbs that you refused to cut down, or you chose to trim your tree as a weekend project), then the neighbor’s insurer may come after you to recover their loss—a process called subrogation.¹
You may want to check your policy or speak to your insurance agent to ascertain if your homeowner's policy covers your liability in cases of negligence.
When Neighbors Sue
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Some neighbors may seek to bring legal action against you, though often that is unnecessary.
For those working at Syneos Health, determine what municipal laws are in place to cover such instances. Generally speaking, you are not responsible unless you knew, or should have known, about the danger. Proving what you knew or should have known can be difficult and costly in a court of law. It typically benefits both parties to arrive at a compromise that avoids an expensive legal process.
The information in this material is not intended as legal advice. Please consult legal or insurance professionals for specific information regarding your individual situation.
What is the 401(k) plan offered by Syneos Health?
The 401(k) plan at Syneos Health is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out, helping them prepare for retirement.
Does Syneos Health match contributions to the 401(k) plan?
Yes, Syneos Health offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.
How can I enroll in the Syneos Health 401(k) plan?
Employees can enroll in the Syneos Health 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
What is the eligibility requirement to participate in the Syneos Health 401(k) plan?
Employees of Syneos Health are typically eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documentation.
How much can I contribute to the Syneos Health 401(k) plan each year?
The contribution limits for the Syneos Health 401(k) plan are in line with IRS regulations, which may change annually. Employees should check the latest guidelines for the current limits.
Can I take a loan from my Syneos Health 401(k) plan?
Yes, Syneos Health allows employees to take loans against their 401(k) balance, subject to certain terms and conditions outlined in the plan.
What investment options are available in the Syneos Health 401(k) plan?
The Syneos Health 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees diversify their portfolios.
How often can I change my investment choices in the Syneos Health 401(k) plan?
Employees can change their investment choices in the Syneos Health 401(k) plan at any time, allowing for flexibility in managing their retirement savings.
What happens to my Syneos Health 401(k) if I leave the company?
If you leave Syneos Health, 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 Syneos Health plan, depending on the plan’s rules.
Is there a vesting schedule for the Syneos Health 401(k) plan?
Yes, Syneos Health has a vesting schedule for employer contributions, meaning employees must work for the company for a certain period before they fully own the employer-matched funds.