Healthcare Provider Update: Vulcan Materials Company utilizes the services of various healthcare providers, primarily focusing on employer-sponsored health plans to offer coverage to its employees. This means that healthcare costs for these employees are directly influenced by the company's insurance choices and market conditions. As we approach 2026, healthcare costs are predicted to see significant escalations-especially for those covered under plans tied to the Affordable Care Act (ACA). Record premium increases, with 2026 projected hikes exceeding 60% in certain states, are anticipated due to a combination of factors including skyrocketing medical expenses and the likely expiration of enhanced federal subsidies. Vulcan Materials employees, along with many others, may face a drastic increase in out-of-pocket costs, with estimates suggesting a rise of up to 75% for those reliant on ACA marketplace insurance. This forthcoming burden highlights the need for careful evaluation of health benefits and proactive financial planning as 2026 approaches. Click here to learn more
Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Vulcan Materials employees who are ready to sign up for Medicare. Medicare Advantage plans are offered by private insurers in conjunction with the Medicare program and can provide you with additional health insurance coverage.
What’s in them?
In addition to signing up for Medicare Part A (hospital stays) and Part B (medical coverage), Medicare Advantage plans offer their subscribers extra features. This frequently, but not always, includes the Medicare Part D prescription drug plan. In some cases, Medicare Advantage plans offer coverage for areas not normally offered within regular Medicare plans. This can include dental, hearing, and vision insurance.
What are the rules?
Medicare pays for a fixed amount of your health care to Vulcan Materials offering your Medicare Advantage (MA) plan. Beyond that, each MA plan requires different out-of-pocket fees. Those fees can vary from plan to plan. Depending on your plan, you may have different rules you need to follow when seeking a medical referral to get treatment from a specialist or if you are seeking non-urgent care (even from health care providers within the plan). It’s also important to remember that rules, requirements, and features may change from year to year. It will be important to make sure that those changes line up with any treatment that you need.
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What about my prescriptions?
While most MA plans offer Part D coverage for prescription drugs, some don’t. One example would be Medicare Medical Savings Account plans. In cases where the plan can’t or chooses not to offer prescription drug coverage, you may have the ability to join a separate Medicare Prescription Drug Plan, depending on the type of plan you enroll in. You will likely have a number of questions and concerns as you examine your options for Medicare Advantage plans. Discuss these with a trusted financial professional who can help you make choices that may best fit your lifestyle.
1. Medicare.gov, 2022
What type of retirement plan does Vulcan Materials offer to its employees?
Vulcan Materials offers a 401(k) Savings Plan to help employees save for retirement.
Does Vulcan Materials provide a company match for contributions made to the 401(k) plan?
Yes, Vulcan Materials provides a company match for employee contributions to the 401(k) plan, subject to specific terms.
What is the minimum age requirement to participate in Vulcan Materials' 401(k) Savings Plan?
Employees must be at least 21 years old to participate in Vulcan Materials' 401(k) Savings Plan.
How can employees enroll in the 401(k) Savings Plan at Vulcan Materials?
Employees can enroll in the 401(k) Savings Plan at Vulcan Materials through the company’s benefits portal or by contacting the HR department.
What are the contribution limits for the Vulcan Materials 401(k) plan?
Contribution limits for the Vulcan Materials 401(k) plan align with IRS regulations, which may change annually.
Can employees of Vulcan Materials take loans against their 401(k) savings?
Yes, Vulcan Materials allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What investment options are available in Vulcan Materials' 401(k) Savings Plan?
Vulcan Materials offers a variety of investment options within the 401(k) Savings Plan, including mutual funds and target-date funds.
Is there a vesting schedule for the company match in Vulcan Materials' 401(k) plan?
Yes, Vulcan Materials has a vesting schedule for the company match, which outlines when employees fully own the matched contributions.
How often can employees change their contribution amounts to the Vulcan Materials 401(k) plan?
Employees can change their contribution amounts to the Vulcan Materials 401(k) plan at any time, subject to specific deadlines.
What happens to my 401(k) savings if I leave Vulcan Materials?
If you leave Vulcan Materials, you have several options for your 401(k) savings, including rolling it over to another retirement account or cashing it out.