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Healthcare Provider Update: Healthcare Provider for Vishay Intertechnology Vishay Intertechnology's employees typically access healthcare benefits through various providers, with commonly used insurance carriers including UnitedHealthcare, Aetna, and Anthem. The specific healthcare provider may vary based on the employee's chosen insurance plan and geographic location. Potential Healthcare Cost Increases in 2026 As 2026 approaches, Vishay Intertechnology employees face the likelihood of significant healthcare cost increases. The combination of anticipated double-digit premium hikes-some exceeding 60%-and the potential expiration of enhanced federal ACA subsidies is poised to heighten financial pressures on workers. Many employers are shifting more costs onto employees, with adjustments in deductibles, coinsurance, and out-of-pocket maximums becoming increasingly common. As these changes unfold, employees need to be proactive in understanding their benefits and preparing for escalating healthcare expenditures. This proactive approach may help mitigate the adverse effects of rising costs in the coming year. Click here to learn more
Most Vishay Intertechnology 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 Vishay Intertechnology 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 Vishay Intertechnology employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What retirement savings options does Vishay Intertechnology offer to its employees?
Vishay Intertechnology offers a 401(k) savings plan that allows employees to save for retirement through pre-tax contributions.
How can employees at Vishay Intertechnology enroll in the 401(k) plan?
Employees at Vishay Intertechnology can enroll in the 401(k) plan by completing the enrollment forms available through the HR department or the company’s benefits portal.
What is the employer match for the 401(k) plan at Vishay Intertechnology?
Vishay Intertechnology provides a matching contribution to the 401(k) plan, which is typically a percentage of the employee's contributions, subject to specific limits.
Are there any eligibility requirements to participate in Vishay Intertechnology’s 401(k) plan?
Yes, employees must meet certain eligibility criteria, such as a minimum length of service, to participate in Vishay Intertechnology's 401(k) plan.
What types of investments are available in Vishay Intertechnology's 401(k) plan?
Vishay Intertechnology's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to diversify their retirement savings.
Can employees at Vishay Intertechnology take loans against their 401(k) savings?
Yes, Vishay Intertechnology allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.
How often can employees change their contribution amounts to the 401(k) plan at Vishay Intertechnology?
Employees at Vishay Intertechnology can change their contribution amounts to the 401(k) plan during designated enrollment periods or as specified by the plan guidelines.
What happens to the 401(k) savings if an employee leaves Vishay Intertechnology?
If an employee leaves Vishay Intertechnology, they have several options for their 401(k) savings, including rolling over the balance to another retirement account or cashing out, subject to taxes and penalties.
Does Vishay Intertechnology offer any financial education resources for 401(k) participants?
Yes, Vishay Intertechnology provides financial education resources, including workshops and online tools, to help employees make informed decisions about their 401(k) savings.
What is the vesting schedule for employer contributions in Vishay Intertechnology's 401(k) plan?
The vesting schedule for employer contributions at Vishay Intertechnology typically follows a graded or cliff vesting approach, which determines when employees fully own the employer's contributions.
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