Healthcare Provider Update: Healthcare Provider for EPAM Systems EPAM Systems primarily partners with large health insurers, but specific healthcare providers may vary depending on the regional office and employee benefits package they offer. Typically, recognized national insurers such as UnitedHealthcare, Anthem, and Cigna are among those involved in providing healthcare coverage to EPAM Systems employees. Potential Healthcare Cost Increases in 2026 As 2026 approaches, EPAM Systems employees should prepare for potential healthcare cost increases, significantly influenced by the anticipated rise in Affordable Care Act (ACA) premiums. States may see hikes upwards of 60%, with many large insurers adjusting their rates to counteract escalating medical expenses and the possible expiration of federal premium subsidies. Without these subsidies, over 22 million participants could face out-of-pocket premium increases of over 75%. Consequently, employees at EPAM Systems could find themselves absorbing a larger share of healthcare costs, prompting the need for proactive planning and informed decision-making regarding their healthcare benefits. Click here to learn more
A recent study conducted by Security.org unveiled surprising trends regarding social media usage across generations,
with a significant focus on baby boomers. Contrary to popular belief, which often associates social media prowess with younger demographics like millennials, it appears that baby boomers are not only active users but also greatly benefit from their online interactions. This revelation questions the stereotype of social media being predominantly a young person’s arena.
The research led by Corie Colliton reveals an impressive 84% of baby boomers believe that social media positively influences their lives—a stark contrast to the 33%
of millennials who view their online interactions negatively. This difference is especially striking given the high integration of social media in the daily routines of younger generations.
For baby boomers at EPAM Systems, this affinity for social media may stem from their unique historical context. Having witnessed the dawn of television, the expansion of cable, and the birth of the internet, they have embraced each new technological wave as a fresh media outlet. This extensive exposure to tech innovations likely contributes to their adaptive and favorable use of social media platforms.
However, the way baby boomers engage with social media differs significantly from younger users. They tend to spend less time online, which might lead to a more satisfying and less overwhelming online experience. EPAM Systems employees from this generation typically use social platforms to stay connected with friends and family, enhancing their sense of happiness linked to these interactions.
According to Statista, YouTube tops the charts as the favorite platform among baby boomers, with 70% using it regularly, closely followed by Facebook.
This preference aligns with traditional media consumption patterns that favor content viewing over interactive engagement. Usage rates for other platforms like Pinterest, LinkedIn, and Instagram vary, with Twitter and Snapchat being less popular among this demographic.
When interacting with technology, baby boomers at EPAM Systems often utilize a single index finger for typing on smartphones—a method reminiscent of older dialing techniques. This contrasts with the thumb-typing speed common among younger generations.
The study also sheds light on broader cultural attitudes toward social media. Only 26.5% of boomers believe social media should not exist, compared to 44% of millennials. This indicates a generational divide in how social media is perceived within society.
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Interestingly, the study finds that positive sentiments about social media often come from Southern male boomers who are married, hold at least an associate degree, and lean politically to the right. In contrast, millennial women from the Midwest, who are single and lean left politically, generally have a less favorable view of social media.
For EPAM Systems employees approaching retirement, the role of social media is increasingly vital.
A 2022 Financial Times survey
highlighted that about 60% of baby boomers now engage with financial content on platforms like Facebook and YouTube. They use these sites not only for personal connections but also to monitor market trends, seek financial advice, and manage their retirement planning.
For baby boomers at EPAM Systems, mastering social media is like rediscovering a cherished classic car with modern updates. They appreciate the blend of traditional engagement and new-age digital tools, enjoying the journey much like driving a well-loved, refurbished car on modern roads. This generation values the integration of conventional wisdom with innovative technologies, enhancing their experience as they navigate through the evolving digital landscape.
What retirement savings options does EPAM Systems offer to its employees?
EPAM Systems offers a 401(k) plan as a primary retirement savings option for its employees.
Does EPAM Systems match employee contributions to the 401(k) plan?
Yes, EPAM Systems provides a matching contribution to the 401(k) plan, helping employees maximize their retirement savings.
What is the eligibility requirement to participate in the EPAM Systems 401(k) plan?
Employees of EPAM Systems are eligible to participate in the 401(k) plan after completing a specified period of employment, typically within the first year.
How can employees at EPAM Systems enroll in the 401(k) plan?
Employees at EPAM Systems can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What types of investment options are available in the EPAM Systems 401(k) plan?
The EPAM Systems 401(k) plan offers a variety of investment options, including mutual funds, index funds, and target-date funds.
Can employees at EPAM Systems take loans against their 401(k) savings?
Yes, EPAM Systems allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.
What is the vesting schedule for EPAM Systems’ 401(k) matching contributions?
The vesting schedule for EPAM Systems’ 401(k) matching contributions typically follows a graded vesting schedule, which employees can review in the plan documents.
How often can employees at EPAM Systems change their 401(k) contribution amounts?
Employees at EPAM Systems can change their 401(k) contribution amounts during designated enrollment periods or as specified by the plan guidelines.
What happens to the 401(k) plan if an employee leaves EPAM Systems?
If an employee leaves EPAM Systems, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the EPAM Systems plan if allowed.
Are there any fees associated with the EPAM Systems 401(k) plan?
Yes, the EPAM Systems 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.