New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Weighing the Options: Evaluating the Pros and Cons of Retiring at 55 for Century Communities Employees

Healthcare Provider Update: Healthcare Provider for Century Communities The primary healthcare provider for Century Communities is often facilitated through the company's employee benefits program, which includes options for major insurers. However, specific healthcare providers may vary based on the employees' locations and plans selected. Generally, employees can access several national insurers that are common in employer-sponsored health plans. Potential Healthcare Cost Increases in 2026 As health insurance premiums for the Affordable Care Act (ACA) marketplace are projected to surge in 2026, many employees of Century Communities could face significant financial strain. A combination of escalating medical costs and the potential expiration of federal subsidies may result in average premium increases of over 60% in certain states, with some individuals seeing their out-of-pocket costs jump by approximately 75%. This drastic rise in expenses can disproportionately affect middle-income families, complicating retirement planning and financial stability. With proactive budgeting and strategic healthcare planning becoming increasingly essential, employees should prepare for these potentially daunting changes ahead. Click here to learn more

'' Organizational culture forces 55-year-old employees of Century Communities companies to think about the long-term sustainability of their income because they want their retirement funds to be safe and diverse enough to last the rest of their lifetime.'

'Retiring at 55 is a great privilege, but no one should forget about the healthcare costs and other sources of income to ensure that the retiree leads a healthy life after retiring from work.'

'This article is going to look at:

1. The pros and cons of retiring at 55 and the financial implications of it.
2. Ways of generating diverse sources of income and planning for the future.
3. A healthcare analysis and the need to have adequate coverage until Medicare age.'

Criterion. Both the pros and cons of retiring at 55 shall be explored in this article. The healthcare implications of early retirement and tips on how to plan for the future shall also be covered.

Heading into retirement, there are many things to consider, especially for the employees of Century Communities companies who are planning for retirement at 55.

The Rule of 55:

This is important for those who decide to retire early and want to withdraw from their 401(k) accounts without incurring penalties. As long as you retire before you turn 55, you can withdraw from your 401(k) account without having to pay penalties even though you have not yet reached the age of 59 ½. This exception makes it possible for early retirees to make decisions about their money more flexibly.

Financial Aspects:

A Plan for the Future:

Financial planning for retirement at 55 means that one has to consider the sustainability of the financial situation in the future. It is important that Century Communities employees consider the length of the retirement period as life expectancy has increased and retirement may last for 30 years or more. So, the nest egg, which includes retirement accounts, rental income, and maybe Social Security benefits, must be enough to support the expenses. To establish the amount of money needed in the nest egg, it is crucial to consider the annual expenses, possible healthcare costs, and other unpredictable costs.

A Safety Net for the Future:

Diversifying your sources of income is important to ensure that you are not dependent on the rental income alone to support your lifestyle. It is possible that rental income will not be enough to support all the needs or to become the only source of income. Turning to part-time work or other job opportunities can help enhance retirement savings. It can also help to have a job that provides health insurance and a retirement plan to give one a sense of security and to add to one’s income.

Health Care Issues:

Research and planning of the healthcare costs and needs during this period cannot be overemphasized as individual health insurance may be required. It is crucial to learn more about the costs and make arrangements for the healthcare expenses to avoid surprise costs. Some of the strategies that can be used include seeking other health insurance plans or even joining your spouse’s employer-based plan to reduce the costs associated with affordable coverage.

Purposeful Retirement:

New Pursuits for Meaningful Living After leaving work, people do not automatically retire but rather find ways to keep themselves busy. It is possible that people can find new jobs, start their own businesses, or volunteer to help others and, perhaps, earn some money. Such activities can also help improve the quality of life and keep the mind active during the retirement period.

Planning for the Future:

A Balanced Approach However, it is important that Century Communities employees consider the pros and cons of retiring at 55. This article helps employees of Century Communities companies to analyze their individual financial situation, develop plans for the future, and predict their future requirements.

In this paper, the authors would like to express their gratitude to financial advisors and retirement planning specialists for their valuable recommendations which have been incorporated into this paper based on the authors’ specific situation.'

Sources:

1. SmartAsset . 'How to Retire at 55: A Step-by-Step Plan.' SmartAsset , 2025, https://smartasset.com/retirement/how-to-retire-at-55 . Accessed 8 Feb. 2025.

2. Kiplinger . 'The Rule of 55: One Way to Fund Early Retirement.' Kiplinger , Nov. 2024, https://www.kiplinger.com/retirement/the-rule-of-55-one-way-to-fund-early-retirement . Accessed 8 Feb. 2025.

Featured Video

Articles you may find interesting:

3. Investopedia . 'Top Retirement Savings Tips for 55-to-64-Year-Olds.' Investopedia , July 2024, https://www.investopedia.com/retirement/top-retirement-savings-tips-55-to-64-year-olds . Accessed 8 Feb. 2025.

4. T. Rowe Price . 'Six Steps to Achieve Financial Independence and Retire Early (FIRE).' T. Rowe Price , Oct. 2024, https://www.troweprice.com/personal-investing/resources/insights/6-steps-to-achieve-financial-independence-and-retire-early.html . Accessed 8 Feb. 2025.

5. U.S. Bank . 'How to Retire Early: 8 Early Retirement Tips.' U.S. Bank , Jan. 2025, https://www.usbank.com/retirement-planning/financial-perspectives/how-to-retire-early.html . Accessed 8 Feb. 2025.

What type of retirement plan does Century Communities offer to its employees?

Century Communities offers a 401(k) retirement savings plan to help employees save for their future.

Is there a company match for contributions to the Century Communities 401(k) plan?

Yes, Century Communities provides a company match for employee contributions to the 401(k) plan, helping to enhance your retirement savings.

How can employees enroll in the Century Communities 401(k) plan?

Employees can enroll in the Century Communities 401(k) plan through the company’s designated benefits portal or by contacting the HR department for assistance.

What is the eligibility requirement to participate in the Century Communities 401(k) plan?

Generally, employees of Century Communities who meet specific criteria, such as age and length of service, are eligible to participate in the 401(k) plan.

Can employees change their contribution percentage to the Century Communities 401(k) plan?

Yes, employees can change their contribution percentage to the Century Communities 401(k) plan at any time, subject to the plan's rules.

What investment options are available in the Century Communities 401(k) plan?

The Century Communities 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Does Century Communities provide financial education resources for employees regarding the 401(k) plan?

Yes, Century Communities offers financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

What happens to my Century Communities 401(k) if I leave the company?

If you leave Century Communities, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the plan if permitted.

Are there any fees associated with the Century Communities 401(k) plan?

Yes, like most 401(k) plans, the Century Communities 401(k) plan may have administrative and investment fees. Employees can review the plan documents for detailed information.

How often can employees contribute to the Century Communities 401(k) plan?

Employees can contribute to the Century Communities 401(k) plan through payroll deductions, which occur on each pay period.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

In 2024, Century Communities announced a restructuring plan that includes reducing its workforce by 8% and making significant changes to its benefits package, including increased employee contributions to retirement plans.

Additional Articles

Check Out Articles for Century Communities employees

For more information you can reach the plan administrator for Century Communities at 8390 East Crescent Parkway, Suite 650 Greenwood, CO 80111; or by calling them at 1-303-268-8390.