<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

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

image-table

Healthcare Provider Update: Healthcare Provider for Sonic Automotive Sonic Automotive primarily offers its employees health insurance through a plan established with Aetna, which provides comprehensive healthcare coverage and plans tailored for the company's workforce needs. Potential Healthcare Cost Increases in 2026 In 2026, Sonic Automotive and its employees are likely to face significant healthcare cost increases, driven predominantly by a convergence of factors. A projected rise of 8.5% in employer-sponsored insurance costs reflects ongoing inflation in medical expenses and the staggering demands placed on health providers. Additionally, the potential expiration of enhanced ACA premium subsidies may force many employees to bear higher out-of-pocket costs. As these shifts unfold, it may become critical for Sonic Automotive to evaluate its healthcare strategies and potentially adjust its offerings to mitigate the financial impact on its workforce. 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 Sonic Automotive 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 Sonic Automotive 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 Sonic Automotive careers into a phase of life where tranquility and well-being become the ultimate luxury. 

What is the 401(k) plan offered by Sonic Automotive?

The 401(k) plan at Sonic Automotive is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

Does Sonic Automotive match contributions to the 401(k) plan?

Yes, Sonic Automotive offers a company match for employee contributions to the 401(k) plan, helping to boost your retirement savings.

When can employees at Sonic Automotive enroll in the 401(k) plan?

Employees at Sonic Automotive can enroll in the 401(k) plan during their initial onboarding or during the annual open enrollment period.

How much can employees contribute to the Sonic Automotive 401(k) plan?

Employees can contribute up to the IRS limit set for the year, which can vary annually. Sonic Automotive encourages employees to check the current limits.

What types of investments are available in the Sonic Automotive 401(k) plan?

The Sonic Automotive 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to diversify their portfolios.

Is there a vesting schedule for the company match in Sonic Automotive's 401(k) plan?

Yes, Sonic Automotive has a vesting schedule for the company match, which means that employees must work for a certain period before they fully own the matched contributions.

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

Yes, Sonic Automotive allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.

What happens to my 401(k) savings if I leave Sonic Automotive?

If you leave Sonic Automotive, you can roll over your 401(k) savings into another qualified retirement plan, withdraw the funds, or leave them in the Sonic Automotive plan, depending on the balance.

How can employees at Sonic Automotive access their 401(k) account information?

Employees can access their 401(k) account information through the online portal provided by Sonic Automotive’s plan administrator.

Does Sonic Automotive offer financial planning resources for employees regarding their 401(k)?

Yes, Sonic Automotive provides access to financial planning resources and tools to help employees make informed decisions about their 401(k) savings.

New call-to-action

Additional Articles

Check Out Articles for Sonic Automotive employees

Loading...

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

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Sonic Automotive employees