<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=314834185700910&amp;ev=PageView&amp;noscript=1">

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

Learn More

Encompass Health Employees: Discover Which States Offer the Best Environment for a Stress-Free Retirement!

image-table

Healthcare Provider Update: Healthcare Provider for Encompass Health Encompass Health Corporation operates as a leader in post-acute healthcare services, particularly offering rehabilitation services through a network of inpatient rehabilitation hospitals, outpatient rehabilitation clinics, and home health agencies. Their integrated care model emphasizes rehabilitation for patients recovering from illness or injury, including stroke recovery, brain injury rehabilitation, and orthopedic recovery. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are anticipated to rise significantly, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Factors such as the potential expiration of enhanced federal premium subsidies and escalating medical costs could result in premium hikes of over 60% in some states. Reports indicate that nearly 92% of ACA enrollees may face out-of-pocket premium increases exceeding 75%, driven by high utilization of medical services and significant drug costs. Consequently, consumers will need to navigate these changes carefully to manage their healthcare expenses effectively. Click here to learn more

The contemporary era presents a myriad of stressors, from the unpredictable housing market to escalating grocery prices. Indeed, the intensity of stress an individual encounters can significantly hinge on their geographical location, as recent research reveals.

A comprehensive study conducted by WalletHub earlier in the year embarked on the ambitious task of ranking the “most and least stressed” states across the United States. This expansive report utilized a comparative analysis across the 50 states, examining them through the lens of 41 distinct metrics. These indicators encompassed a range of factors including the unemployment rate, income growth trajectory, separation and divorce rates, mental health statistics, and the affordability of medical consultations.

In order to distill these broad metrics into actionable insights for Encompass Health professionals, the states were evaluated based on four primary dimensions of stress:

  1. Work-related stress,
  2. Financial stress,
  3. Family-related stress, and
  4. Health and safety-related stress.

This intricate analysis was fortified by data sourced from reputable institutions such as the U.S. Census Bureau, the Bureau of Labor Statistics, and the Centers for Disease Control and Prevention, among others.

In an intriguing revelation, the report not only provided a holistic stress ranking but also delved into specific categories like the average number of sleep hours residents get each night, the number of practicing psychologists per capita, and the average weekly work hours.

Mississippi emerged at the forefront of this study, unfortunately bearing the title of the most stressed state. It was particularly impacted by financial stress despite boasting the lowest cost of living in the country. Contrasting its affordable living, it faces challenges with educational attainment and workforce productivity, alongside having one of the most substantial rates of worker migration, as detailed by a CNBC report.

Conversely, the spectrum's other end highlighted states like Utah, Connecticut, and South Dakota, known for their comparatively low stress levels. Interestingly, states like Hawaii and Florida, often celebrated for their high happiness indices, did not feature in the top ten of this list.

Topping the chart as the epitome of tranquility was Minnesota, recognized as the least stressed state. Minnesotans reported minimal stress related to finances and family. Moreover, Minnesota was celebrated for offering its residents nearly the highest average sleep hours, trailing only behind Colorado. Famously referred to as the “Land of 10,000 Lakes,” Minnesota has also been acclaimed as one of the prime states for both living and professional engagement, as per CNBC’s annual assessment.

Following closely was Utah, securing the second position. Remarkably, Utah recorded the fewest work hours per week on average, a low poverty rate, and the nation’s lowest divorce statistics. In an adjunct study by WalletHub, Utah was distinguished as the happiest state, partly owing to its impressive volunteer rate standing at 40.7% - a stark contrast to Florida’s significantly lower rate.

New Hampshire consolidated the top three, standing out with the lowest proportion of adults in fair or poor health and an impressive average credit score of 729, as per CNBC Select. It boasts one of the lowest poverty and crime rates per capita. The city of Nashua in Hillsborough County, New Hampshire, in particular, enjoys the reputation of being the safest in the country, making it one of the state's most desirable living destinations, according to Niche. Further, Census Bureau data indicates that New Hampshire ranks among the wealthiest and most educated in the nation, enhanced by its lack of income tax on wages and sales tax.

Articles you may find interesting:

Loading...

In an age where change is constant and often abrupt, savvy individuals and leaders understand the importance of adaptation and forward-thinking. CNBC's Evolve Global Summit, scheduled for November 2, offers a unique opportunity for insight into thriving in this dynamic business era. The summit promises strategies for adaptation, innovation, and success in contemporary business landscapes. Interested parties are encouraged to secure their participation by purchasing tickets through the appropriate channels.

A crucial aspect contributing to Minnesota's low stress levels, particularly relevant to Encompass Health professionals nearing or in retirement, is the state's robust healthcare system. According to U.S. News & World Report (2021), Minnesota is ranked 3rd in healthcare access and 11th in healthcare quality nationwide, ensuring its residents, especially those in older demographics, have ample access to superior medical care. This accessibility is paramount for those transitioning from active working life, as they can rely on high-quality healthcare services, a factor significantly alleviating health-related stress often accompanying this life stage.

Stay informed and empowered in your personal and professional life by subscribing to our latest newsletter, a valuable resource for navigating modern complexities in finance, work, and everyday life.

Navigating the states of America in search of the ideal place to retire is akin to sifting through a box of assorted chocolates, each piece uniquely flavored with different fillings representing various lifestyle factors. Minnesota, in this assortment, is the coveted dark chocolate truffle — rich in quality healthcare, laden with the sweetness of plentiful sleep, and enrobed in the smooth texture of low financial and family-related stress. Just as dark chocolate is known for its health benefits and stress-reducing antioxidants, Minnesota offers a blend of life-enhancing qualities that melt away worries, making it the choice morsel for those seasoned professionals stepping away from their bustling Encompass Health careers into a phase of life where tranquility and well-being become the ultimate luxury. 

What is the 401(k) plan offered by Encompass Health?

The 401(k) plan offered by Encompass Health is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

Does Encompass Health offer a matching contribution for the 401(k) plan?

Yes, Encompass Health offers a matching contribution to help employees maximize their retirement savings.

How can employees enroll in the Encompass Health 401(k) plan?

Employees can enroll in the Encompass Health 401(k) plan through the company's benefits portal during the enrollment period or after they become eligible.

What are the eligibility requirements for the Encompass Health 401(k) plan?

To be eligible for the Encompass Health 401(k) plan, employees typically need to meet certain criteria, such as completing a specified period of service.

Can employees make changes to their contributions in the Encompass Health 401(k) plan?

Yes, employees can make changes to their contribution amounts in the Encompass Health 401(k) plan at any time, subject to plan rules.

What investment options are available in the Encompass Health 401(k) plan?

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

When can employees start withdrawing funds from their Encompass Health 401(k) plan?

Employees can start withdrawing funds from their Encompass Health 401(k) plan upon reaching the age of 59½, or under certain circumstances such as financial hardship.

Are there penalties for early withdrawal from the Encompass Health 401(k) plan?

Yes, there are typically penalties for early withdrawal from the Encompass Health 401(k) plan unless specific exceptions apply, such as disability or financial hardship.

What happens to an employee's Encompass Health 401(k) plan if they leave the company?

If an employee leaves Encompass Health, they can roll over their 401(k) balance into another retirement account, cash out, or leave the funds in the plan if allowed.

How often does Encompass Health provide statements for the 401(k) plan?

Encompass Health provides regular statements for the 401(k) plan, typically on a quarterly basis, detailing account balances and investment performance.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Encompass Health offers a comprehensive benefits package that includes both a 401(k) plan and other retirement options. In 2022, 2023, and 2024, Encompass Health continued to provide the Encompass Health Retirement Investment Plan, which allows employees to contribute up to 100% of their pay on a pre-tax basis, subject to IRS limits. The company matches 50% of the first 6% of employee contributions to the 401(k). There is also a Roth option available for those preferring post-tax contributions. Employees aged 50 or older are eligible for additional catch-up contributions​ (Encompass Health). In terms of eligibility for the 401(k) plan, all full-time and part-time benefit-eligible employees of Encompass Health can participate. The plan is administered by Charles Schwab Investments and offers a variety of mutual funds for investment. This is an employer-sponsored defined contribution plan​ (Encompass Health)​ (Encompass Health). Encompass Health employees also have access to an Employee Stock Purchase Plan (ESPP), which allows them to purchase company stock at discounted rates through payroll deductions. Although this is a voluntary program, it provides a supplementary method for employees to invest in the company​
Restructuring and Layoffs: Encompass Health has recently undergone significant restructuring aimed at streamlining operations and reducing costs. In 2023, the company announced a series of layoffs affecting several departments to align with its strategic goals. This move is part of a broader trend in the healthcare sector to enhance operational efficiency amid economic pressures and rising costs. Importance: Given the current economic and investment climate, understanding these changes is crucial. The healthcare industry is adapting to economic uncertainties, and such restructuring efforts can have widespread impacts on employees and the overall market. Additionally, changes in company operations can influence investment decisions and tax implications.
Encompass Health offers stock options and RSUs to executives and key employees as part of their compensation package. These benefits are designed to align employee interests with the company's performance. Stock options allow employees to buy shares at a set price, while RSUs provide shares after certain conditions are met.
Encompass Health Careers: Check the company’s official careers page for specific details on health benefits. Encompass Health Benefits Information: Look for detailed benefits descriptions, plan options, and any recent updates in their employee benefits section. Glassdoor: Review employee reviews for insights on health benefits and any recent changes or updates. Indeed: Explore employee reviews and salary data, focusing on health benefits. LinkedIn: Look at company updates and posts that may include information on health benefits. Business Insider: Search for any articles related to employee benefits at Encompass Health. HR News Sites: Check specialized HR and benefits news websites for articles or reports on Encompass Health's employee health benefits. Healthcare-Related Terms and Acronyms: Health Savings Account (HSA): A tax-advantaged savings account used to pay for qualified medical expenses. Flexible Spending Account (FSA): An account that allows employees to use pre-tax dollars for eligible healthcare expenses. Co-Pay: A fixed amount paid by the insured for covered services. Deductible: The amount an employee pays out-of-pocket before insurance coverage begins. Premium: The amount paid for insurance coverage, typically monthly. Out-of-Pocket Maximum: The maximum amount an employee has to pay for covered services in a plan year.
New call-to-action

Additional Articles

Check Out Articles for Encompass Health employees

Loading...

For more information you can reach the plan administrator for Encompass Health at 9001 Liberty Parkway Birmingham, AL 35242; or by calling them at (205) 967-7116.

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Encompass Health employees