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Healthcare Provider Update: Healthcare Provider for Walgreens Boots Alliance Walgreens Boots Alliance primarily operates through its retail pharmacy network, including Walgreens and Boots pharmacies, along with a range of healthcare services. The company partners with various insurance and healthcare providers to offer accessible pharmacy services, health and wellness products, and integrated healthcare solutions aimed at enhancing patient care. Potential Healthcare Cost Increases in 2026 In 2026, employees of Walgreens Boots Alliance are likely to face significant increases in healthcare costs as insurance premiums for ACA marketplace plans are projected to rise sharply, in some instances exceeding 60%. With the potential expiration of enhanced federal subsidies, many enrollees may see their out-of-pocket costs escalate by over 75%. Coupled with rising medical costs driven by inflation and increased demand for expensive treatments, employees need to be proactive in understanding their health benefits and planning accordingly to manage these anticipated financial burdens. Click here to learn more
Most Walgreens Boots Alliance 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 Walgreens Boots Alliance 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 Walgreens Boots Alliance employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What type of retirement savings plan does Walgreens Boots Alliance offer to its employees?
Walgreens Boots Alliance offers a 401(k) retirement savings plan to its employees.
How can employees of Walgreens Boots Alliance enroll in the 401(k) plan?
Employees of Walgreens Boots Alliance can enroll in the 401(k) plan through the company’s HR portal or by contacting the benefits department for assistance.
Does Walgreens Boots Alliance match employee contributions to the 401(k) plan?
Yes, Walgreens Boots Alliance provides a matching contribution to the 401(k) plan, subject to certain limits.
What is the maximum employee contribution percentage allowed in the Walgreens Boots Alliance 401(k) plan?
The maximum employee contribution percentage allowed in the Walgreens Boots Alliance 401(k) plan is in line with IRS limits, which can change annually.
Are there any waiting periods for new employees to join the Walgreens Boots Alliance 401(k) plan?
Walgreens Boots Alliance typically allows new employees to join the 401(k) plan after completing a specified waiting period, usually within the first few months of employment.
Can employees of Walgreens Boots Alliance take loans against their 401(k) savings?
Yes, employees of Walgreens Boots Alliance may have the option to take loans against their 401(k) savings, subject to the plan's terms.
What investment options are available within the Walgreens Boots Alliance 401(k) plan?
The Walgreens Boots Alliance 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How often can employees change their contribution amounts to the Walgreens Boots Alliance 401(k) plan?
Employees of Walgreens Boots Alliance can typically change their contribution amounts at any time, subject to the plan’s guidelines.
What happens to the 401(k) savings if an employee leaves Walgreens Boots Alliance?
If an employee leaves Walgreens Boots Alliance, they can choose to roll over their 401(k) savings to another retirement account, cash out, or leave the savings in the plan, depending on the balance and plan rules.
Does Walgreens Boots Alliance provide educational resources to help employees understand their 401(k) options?
Yes, Walgreens Boots Alliance offers educational resources and workshops to help employees understand their 401(k) options and make informed decisions.
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