<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

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

image-table

Healthcare Provider Update: Hillenbrand Healthcare Provider Overview: Hillenbrand, Inc., a global diversified industrial company headquartered in Batesville, Indiana, primarily functions in markets related to advanced funeral and cremation equipment, medical devices, and industrial process solutions. As of recent data, Hillenbrand does not specifically provide healthcare services or insurance directly but operates through significant subsidiaries in the healthcare sector, such as the medical equipment arm of its subsidiary, Batesville. Potential Healthcare Cost Increases in 2026: In 2026, healthcare costs are projected to surge significantly, primarily due to the looming expiration of enhanced federal premium subsidies under the Affordable Care Act (ACA). This situation could lead to a rise in out-of-pocket premiums by over 75% for nearly 22 million enrollees, pushing some states to see increases exceeding 60%. Factors such as escalating medical expenses and substantial insurer rate hikes are contributing to this unprecedented increase. This perfect storm of conditions may leave many individuals priced out of essential healthcare coverage, negatively impacting their financial stability and access to necessary medical services. 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 Hillenbrand 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 Hillenbrand 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 Hillenbrand careers into a phase of life where tranquility and well-being become the ultimate luxury. 

What type of retirement savings plan does Hillenbrand offer to its employees?

Hillenbrand offers a 401(k) retirement savings plan to its employees.

How can employees at Hillenbrand enroll in the 401(k) plan?

Employees at Hillenbrand can enroll in the 401(k) plan through the company’s HR portal during the open enrollment period or upon hire.

Does Hillenbrand match employee contributions to the 401(k) plan?

Yes, Hillenbrand offers a matching contribution to employee 401(k) plan contributions, subject to certain limits.

What is the maximum contribution limit for Hillenbrand's 401(k) plan?

The maximum contribution limit for Hillenbrand's 401(k) plan aligns with IRS guidelines, which are updated annually.

Can employees at Hillenbrand take loans against their 401(k) savings?

Yes, Hillenbrand allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

What investment options are available in Hillenbrand's 401(k) plan?

Hillenbrand's 401(k) plan offers a variety of investment options, including mutual funds and target-date funds.

How often can employees at Hillenbrand change their 401(k) contribution amounts?

Employees at Hillenbrand can change their 401(k) contribution amounts during open enrollment or after a qualifying life event.

Does Hillenbrand provide financial education resources for employees regarding their 401(k)?

Yes, Hillenbrand provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.

What happens to my 401(k) plan if I leave Hillenbrand?

If you leave Hillenbrand, you can choose to roll over your 401(k) balance to another qualified plan, cash out, or leave it in the Hillenbrand plan if eligible.

Are there any fees associated with Hillenbrand's 401(k) plan?

Yes, there may be fees associated with managing the 401(k) plan, which are disclosed in the plan documents provided by Hillenbrand.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Name of Pension Plan: Hillenbrand does not appear to offer a traditional defined benefit pension plan. Instead, the company focuses on a 401(k) plan as the primary retirement benefit for employees. Qualifications (Years of Service and Age): Since Hillenbrand primarily offers a 401(k) plan, detailed qualifications for a traditional pension plan are not applicable. For the 401(k) plan, there are typically vesting schedules and eligibility requirements, but specifics on years of service and age requirements are usually detailed in the plan documentation provided by the company. 401(k) Plan Overview: Name of 401(k) Plan: Hillenbrand 401(k) Plan Qualifications (Years of Service and Age): Employees generally become eligible for the Hillenbrand 401(k) Plan upon reaching a certain period of service, which is often outlined in the plan document. Eligibility criteria typically include completing a probationary period, if applicable, and reaching a minimum age (usually 21). Plan Details: Contributions to the Hillenbrand 401(k) Plan are typically made via payroll deductions. The company may offer matching contributions up to a specified percentage
Restructuring and Layoffs: In 2023, Hillenbrand undertook significant restructuring efforts to streamline its operations and improve efficiency. The company announced a reduction in its workforce as part of these efforts, impacting various departments. This move was aimed at adapting to changing market conditions and enhancing overall performance. It's crucial to follow these developments due to the current economic climate, which may influence investment decisions, tax implications, and political factors that could affect the company's future.
Hillenbrand provided stock options and RSUs as part of their compensation packages for employees in 2022. Employees eligible for these incentives generally include executives and key personnel. Hillenbrand typically issues stock options and RSUs to attract and retain top talent and align employee interests with shareholder interests. Hillenbrand’s 2022 annual report (Page 35) details these incentives and eligibility criteria.
Hillenbrand Benefits Overview: The official Hillenbrand website provides a comprehensive overview of their employee benefits. The company typically offers a range of health benefits including medical, dental, and vision insurance. Specific details for 2022-2024 may include plans such as High Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs) and traditional PPO plans. Healthcare Terms: Common acronyms and terms include HDHP (High Deductible Health Plan), PPO (Preferred Provider Organization), HSA (Health Savings Account), and FSA (Flexible Spending Account
New call-to-action

Additional Articles

Check Out Articles for Hillenbrand employees

Loading...

For more information you can reach the plan administrator for Hillenbrand at , ; or by calling them at .

https://www.thelayoff.com/ https://hillenbrand.com/

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Hillenbrand employees