Healthcare Provider Update: UFP Industries partners with UnitedHealthcare as its healthcare provider for employee health insurance plans. As the landscape of healthcare costs shifts, upcoming changes in 2026 are raising concerns for employees and employers alike. Factors such as the impending expiration of enhanced subsidies from the Affordable Care Act (ACA), rising medical costs, and premium hikes from major insurers are expected to significantly inflate healthcare expenses. Preliminary estimates indicate many UFP Industries employees might face premium increases of around 20%, with some states reporting hikes over 60%. This combination is projected to thrust out-of-pocket expenses for enrollees upward, often by more than 75%, compelling both individuals and families to reassess their healthcare budgeting for the upcoming year. 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 UFP Industries, 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. UFP Industries 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 UFP Industries 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 UFP Industries 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 UFP Industries, 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 type of retirement savings plan does UFP Industries offer to its employees?
UFP Industries offers a 401(k) retirement savings plan to help employees save for their future.
How does UFP Industries match employee contributions to the 401(k) plan?
UFP Industries provides a matching contribution to the 401(k) plan, which typically includes a percentage of the employee's contributions, subject to certain limits.
What is the eligibility criteria for employees to participate in UFP Industries' 401(k) plan?
Employees at UFP Industries are generally eligible to participate in the 401(k) plan after completing a specified period of service, usually within the first few months of employment.
Can employees of UFP Industries make pre-tax contributions to their 401(k) accounts?
Yes, UFP Industries allows employees to make pre-tax contributions to their 401(k) accounts, reducing their taxable income for the year.
Does UFP Industries offer a Roth 401(k) option for employees?
Yes, UFP Industries provides a Roth 401(k) option, allowing employees to make after-tax contributions that can grow tax-free.
What investment options are available in the UFP Industries 401(k) plan?
The 401(k) plan at UFP Industries includes a variety of investment options, such as mutual funds, target-date funds, and other investment vehicles.
How often can employees change their contribution amounts to the UFP Industries 401(k) plan?
Employees can typically change their contribution amounts to the UFP Industries 401(k) plan on a quarterly basis or as specified in the plan documents.
What happens to an employee's 401(k) balance if they leave UFP Industries?
If an employee leaves UFP Industries, they have several options for their 401(k) balance, including rolling it over to another retirement account, leaving it in the UFP Industries plan, or cashing it out.
Does UFP Industries charge fees for managing the 401(k) plan?
Yes, UFP Industries may charge administrative fees and investment-related fees for managing the 401(k) plan, which are disclosed in the plan documents.
How can employees access their 401(k) account information at UFP Industries?
Employees can access their 401(k) account information through the online portal provided by UFP Industries' plan administrator.