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

How To Make The Most Of Your Jones Lang LaSalle Health Plan In 2024

Healthcare Provider Update: Healthcare Provider Information for Jones Lang LaSalle Jones Lang LaSalle (JLL) offers a comprehensive range of healthcare real estate services. The company specializes in managing, optimizing, and developing healthcare facilities, leveraging its deep expertise to support healthcare providers in enhancing operational efficiency and improving patient care environments. Through its Healthcare Center of Excellence, JLL provides clients with tailored real estate solutions to navigate the complexities of the healthcare landscape effectively. Potential Healthcare Cost Increases in 2026 As we head into 2026, healthcare costs are projected to see significant increases due to a perfect storm of factors. Record hikes in health insurance premiums for ACA marketplace plans, sometimes exceeding 60% in various states, combined with the likely expiration of enhanced federal subsidies, could result in over 75% more out-of-pocket premiums for the majority of enrollees. Coupled with persistent medical cost inflation driven by high hospital and drug prices, consumers may find healthcare increasingly unaffordable unless proactive steps are taken now. The evolving regulatory environment will further complicate the landscape, emphasizing the necessity for strategic decisions in coverage and care. Click here to learn more

As a Jones Lang LaSalle employee, understanding the changes in health plans in 2024 is not only about what is covered, but also how to use those benefits smartly to get the most value for your money,” advises Kevin Landis, a representative of The Retirement Group, a division of Wealth Enhancement Group. “It is essential to keep an eye on plan assessments to avoid costly surprises and to get the most out of your healthcare dollar.

Jones Lang LaSalle employees must always ensure they are very familiar with the annual changes in their health plans so as to ensure they are making the right decisions concerning their healthcare and their overall financial situation,” suggests Paul Bergeron, from The Retirement Group, a division of Wealth Enhancement Group. 'It is therefore important to have this knowledge to help avoid incurring unforeseen healthcare costs that would otherwise affect one’s personal financial situation.'

In this article we will discuss:

1. Understanding Your Health Insurance Costs: Explain the different types of Jones Lang LaSalle health insurance plans, including the deductibles, coinsurance, copayments, and out-of-pocket maximums, and how they affect your out-of-pocket costs.

2. Reviewing Changes from 2023 to 2024: Look at the annual changes of the Jones Lang LaSalle health plans, with emphasis on new benefits that have been introduced and potential reductions in benefit levels.

3. Meeting Your Annual Healthcare Needs: Offer ways to cut healthcare costs, such as postponing expensive procedures and using preventative care that is free of charge.

In the ever-changing world of Jones Lang LaSalle health plans, it is crucial for people to know what they are covered for so they can get the most out of their plan and avoid having to pay for something they shouldn’t have to. It is very important to have a clear idea of what the Jones Lang LaSalle health insurance plan covers and the changes made from the previous year as you begin a new year of healthcare in 2024.

This helps you understand how much you are paying for your health insurance on top of the monthly premium that is taken from your paycheck. You need to know about other parts of your plan, like deductibles, coinsurance, copay, and out-of-pocket limits as these can greatly affect the out-of-pocket costs.

The deductible is the amount you pay before the insurance company begins to pay for the services.

Coinsurance is the share of cost of covered services you are required to bear.

Copayments are set amounts you pay after meeting your deductible for certain services.

An out-of-pocket maximum is the total annual expenditure—which includes the deductible, copay, and coinsurance—for all covered expenses. The insurer will pay for the rest of the expenses once the limit is reached.

It is important that you manage your healthcare spending accordingly, as these charges are annual.

Reviewing Changes from 2023 to 2024

There are annual changes in Jones Lang LaSalle health plans, which means that it is crucial to review the coverage every year in January. Caitlin Donovan from the National Patient Advocate Foundation suggests that for more details, it is recommended to check the plan benefit guide and the plan’s website. Some of the key changes include: 15% of large companies offered menopause benefits in 2023 or planned to in 2024, according to Mercer, up from 4% in earlier years. More companies are offering perks like pet insurance and elder caregiving. More plans are covering for alternative providers like massage therapists, reiki practitioners, doulas, and acupuncturists. Some plans offer coverage for wellness programs and gym memberships, including Weight Watchers and meditation classes.

But be aware of any reduced cover that may limit your healthcare choices and spending. Preparing for Your Yearly Medical Needs. It is advisable to start thinking about medical care planning ahead of time, especially if one plans on meeting their deductible. Physician and certified financial planner Carolyn McClanahan recommends holding off on post-deductible expenses for pricey treatments at the end of the year and stocking up on necessary meds in the meantime.

Examples of preventive services that health insurers typically cover without meeting the deductible include wellness visits, mammograms, and colonoscopy. Checking In-Network Care. To avoid paying more than you have to, check the network status of your healthcare providers with your insurance company. So one can avoid being charged for the erroneous out-of-network balance in accordance with the No Surprises Act by capturing pictures of the in-network confirmations.

Financial Planning for Healthcare

As many of the Jones Lang LaSalle companies have their retirees coming in or coming up for retirement, the management of the healthcare expenses becomes one of the most important aspects of financial planning. It is crucial to understand the specifics of your employer’s health insurance and how it will affect your finances.

The impact of 401(k) rollovers on your healthcare funding strategy must also be considered.

Withdraw 401(k) Plans: What are the implications for your future medical spending?

Roth conversions: These can be used in combination with other strategies in order to minimize the taxes on inherited IRAs.

In order to navigate through your health plan in 2024 you must do so proactively. It is crucial to include healthcare costs into the overall financial plan, to know the prices of your plan, to know what is new in 2024 compared to the previous year, to plan your medical needs, and to make sure you get in-network care in order to get all the benefits while spending less. You can enhance the effectiveness of your health plan and your healthcare spending by being aware and planning ahead.

Those who are close to retirement and are employed by Jones Lang LaSalle in 2024 should be especially aware of the Medicare Advantage Disenrollment Period (MADP) that starts on January 1 and runs through February 14 every year. This enables the Medicare Advantage plan beneficiaries to return to Original Medicare.

It is especially important for retirees or people who are about to retire to know this. This is especially important for those who have taken a Medicare Advantage plan and have realized that their preferred healthcare providers or services were not covered. According to the Kaiser Family Foundation, 42% of people on Medicare enrolled in Medicare Advantage plans in 2021, and this disenrollment period is especially important for many retirees.

Managing your health plan in 2024 is as much like being the captain of a ship during a storm as it is. Similar to how a good captain needs to know every part of the ship and the weather conditions that may change any time, so people also need to understand the details of their health insurance policy. Knowing your insurance policy inside out including the co-insurance and deductibles is like knowing the waters you are going to navigate.

Modifying your health plan every year is as natural as changing the sails according to the wind direction. As with course planning, you make sure you get all the value you can, like when you’re meeting your deductible. Just as a commander has to look out for storms, knowing things like the Medicare Advantage Disenrollment Period helps you avoid certain pitfalls. This methodology is particularly important for people who are approaching or have reached retirement age, because it guarantees a smooth and stable financial and physical journey.

Fact:

A new trend that many Jones Lang LaSalle companies are implementing is incorporating telehealth into their health plans, which is a great advantage for the retirees and those who are about to retire and require healthcare services. The 2023 study by the American Telemedicine Association revealed that more than 80% of the Jones Lang LaSalle companies now offer telehealth services as a standard part of their health benefits. This provides the ability to consult with healthcare professionals and get the evaluation done through video calls or mobile applications and thus does not require a physical visit to the doctor. This innovation helps those with chronic diseases or those who want to get general treatment and at the same time reduces the costs of healthcare, which is why it is such an important feature for health plans in 2024.

Analogy:

Managing your Jones Lang LaSalle health plan in 2024 is as much like learning how to steer a ship in a stormy sea as it is. Just like a good captain has to know his ship, how to manipulate the sails to get the best out of the wind, and how to navigate through shifting tides, so people who are approaching retirement have to learn how to manage their health insurance. Knowledge of terms such as deductibles, co-insurance, and out-of-pocket maximums is as critical as knowing the ship’s ropes so as to avoid financial rocks. Monitoring annual changes in health plans is as critical as watching the weather, so you can take advantage of positive conditions and avoid the bad storm.

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Preventative care without cost, like a reservation on a ship, prevents worse misery in the future. Just as a sailor uses charts to plot the best course, telehealth services help chart a course to quality and convenient healthcare. This strategic approach ensures a smooth journey through the healthcare waters for retirees and those approaching retirement, allowing them to enjoy their later years with confidence and financial security.

Sources:

1. Lehman, Ed. 'Employers Enhanced Health Benefits in 2024, Adding Coverage for Weight-Loss Medications and IVF Despite Growing Health Cost.' Mercer , 20 Nov. 2024, www.mercer.com/newsroom/employers-enhanced-health-benefits-in-2024.html .

2. 'Four Pressures Shaping Health Plans in 2024.' HealthScape , www.healthscape.com/articles/four-pressures-shaping-health-plans-in-2024 . Accessed [date you accessed the article].

3. Thao, Kelly. '2024 Healthcare Policy Changes: Key Impacts on Health Plans in 2025.' HealthAxis , www.healthaxis.com/2024-healthcare-policy-changes-key-impacts-on-health-plans-in-2025 . Accessed [date you accessed the article].

4. '2024 Healthcare Trends.' Mass General Brigham Health Plan , www.massgeneralbrighamhealthplan.org/trend-report-2024 . Accessed [date you accessed the article].

5. 'Americans Navigate Changes in 2024 Health Plans.' GoodRx , www.goodrx.com/health-plan-changes-2024 . Accessed [date you accessed the article].

What is the 401(k) plan offered by Jones Lang LaSalle?

The 401(k) plan at Jones Lang LaSalle is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them build a nest egg for retirement.

Does Jones Lang LaSalle match employee contributions to the 401(k) plan?

Yes, Jones Lang LaSalle offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

How can employees at Jones Lang LaSalle enroll in the 401(k) plan?

Employees can enroll in the 401(k) plan at Jones Lang LaSalle by accessing the benefits portal or contacting the HR department for assistance.

What types of investment options are available in the Jones Lang LaSalle 401(k) plan?

The Jones Lang LaSalle 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

When can employees at Jones Lang LaSalle start contributing to their 401(k) plan?

Employees at Jones Lang LaSalle can typically start contributing to their 401(k) plan after completing their initial eligibility period, which is outlined in the employee handbook.

Is there a vesting schedule for the employer match in the Jones Lang LaSalle 401(k) plan?

Yes, Jones Lang LaSalle has a vesting schedule for the employer match, which means employees must work for a certain period to fully own the matched contributions.

Can employees take loans against their 401(k) savings at Jones Lang LaSalle?

Yes, employees can take loans against their 401(k) savings at Jones Lang LaSalle, subject to specific terms and conditions outlined in the plan documents.

What happens to the 401(k) plan if an employee leaves Jones Lang LaSalle?

If an employee leaves Jones Lang LaSalle, they have several options for their 401(k) plan, including rolling it over to an IRA or a new employer's plan, or cashing it out.

How often can employees change their contribution rate to the Jones Lang LaSalle 401(k) plan?

Employees at Jones Lang LaSalle can change their contribution rate to the 401(k) plan at designated times throughout the year, as specified in the plan guidelines.

Are there any fees associated with the 401(k) plan at Jones Lang LaSalle?

Yes, there may be fees associated with the 401(k) plan at Jones Lang LaSalle, which are disclosed in the plan documents and can vary based on investment choices.

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

Plan Name: Jones Lang LaSalle Employee Pension Plan Years of Service and Age Qualification: Employees typically need to complete a minimum number of years of service to qualify for the pension plan. The specific requirements can vary based on the plan’s terms. Pension Formula: The pension formula used by Jones Lang LaSalle is based on factors such as years of service, salary history, and age at retirement. The exact formula can be found in the pension plan documentation. Qualification for 401(k) Plan: Eligibility for the 401(k) plan generally includes all full-time employees who meet certain service and age requirements. 401(k) Plan Name: Jones Lang LaSalle 401(k) Plan

Layoffs and Restructuring: In early 2023, Jones Lang LaSalle (JLL) announced a significant restructuring plan, including the reduction of around 5% of its global workforce. This move was attributed to the company's strategy to streamline operations and adapt to changing market conditions. The reduction affects various departments, particularly those in support functions. It’s important to follow this news given the current economic climate, as companies are reassessing their structures amid economic uncertainty and shifting investment priorities. Understanding these changes can provide insights into broader market trends and potential impacts on employee benefits and job security. Changes to Benefits and Retirement Plans: In mid-2023, JLL also updated its employee benefits, including modifications to its pension and 401(k) plans. The company reduced its matching contributions to 401(k) plans and revised its pension plan options to align with its new business strategy and cost management efforts. These changes come as part of JLL's broader efforts to optimize financial performance amid fluctuating economic conditions. Monitoring these adjustments is crucial as they reflect broader trends in corporate benefits adjustments, influenced by tax and investment factors, and can impact employee retirement planning and financial security.

Stock Options: Jones Lang LaSalle (JLL) offered stock options primarily to senior executives and high-level employees in 2022. The company used stock options to align executives' interests with shareholders' interests. JLL’s stock options were generally tied to performance metrics and long-term strategic goals. RSUs: In 2022, Restricted Stock Units (RSUs) at Jones Lang LaSalle (JLL) were granted to employees across various levels, including middle management and above. RSUs served as a retention tool and were often granted based on performance evaluations and tenure. JLL utilized RSUs to provide employees with ownership stakes in the company, typically vesting over a period of time.

Health Benefits Information: JLL provides a comprehensive benefits package, including medical, dental, and vision coverage. They also offer health savings accounts (HSAs) and flexible spending accounts (FSAs). Specific details for 2022-2024 can be found in the benefits section of their career page or employee handbook, though exact details may vary based on location and employment status. Acronyms and Terms: HSAs (Health Savings Accounts), FSAs (Flexible Spending Accounts), PPO (Preferred Provider Organization), HMO (Health Maintenance Organization).