Healthcare Provider Update: Healthcare Provider for Builders FirstSource The healthcare provider for Builders FirstSource is not explicitly named in the available resources; however, large employers generally partner with major insurance companies such as UnitedHealthcare, Anthem, Cigna, or Aetna to offer health plans to their employees. Potential Healthcare Cost Increases in 2026 In 2026, employees of Builders FirstSource may face significant healthcare cost increases as a result of anticipated hikes in health insurance premiums-some states may see raises of over 60%. Factors contributing to these increases include the potential expiration of enhanced federal premium subsidies under the Affordable Care Act (ACA) and rising medical care costs driven by inflation and specific expensive treatments. As a result, many employees could experience greater out-of-pocket expenses, compelling them to evaluate their healthcare plans and reassess their financial options carefully. Preparedness in understanding and managing these changes will be crucial for maintaining affordability in the coming year. Click here to learn more
A recent Fidelity Investments poll illuminates new trends in the ever-changing retirement planning landscape. Notably, 66% of respondents envision a phased-in approach to retirement, which deviates from the conventional full-stop strategy. This choice shows a shift towards flexible retirement solutions across generations, as evidenced by the significant interest shown by both Gen Zers and millennials.
The wide-ranging implications of this trend point to the necessity of flexibility in retirement advice and planning when preparing to retire from Builders FirstSource. The departure from traditional retirement models highlights a more comprehensive reassessment of retirement goals and work-life balance, reflecting shifting perspectives toward the end of your Builders FirstSource career. Advisors who want to fulfill their Builders FirstSource clients' complex needs must have a thorough understanding of these preferences as retirement planning continues to change.
A growing number of retirees who desire social connection and intellectual stimulation in addition to financial security are adopting the idea of 'Work for Pleasure' in phased retirement, a viable option for Builders FirstSource employees.
According to an American Psychological Association study, continuing to work after retirement can enhance mental well-being, increase life satisfaction, and facilitate the transition to complete retirement. Retirement is now seen as a new chapter with opportunity for learning, growth, and contribution rather than as an end. This is especially true for seasoned professionals from high-ranking roles.
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Retirement is becoming less and less like the unexpected curtain call at the end of a play and more like a well planned art display. Similar to how an exhibition progressively moves from one theme and era to another, providing visitors with an extensive array of experiences, the modern retirement trip, as defined by Fidelity Investments, takes place in stages. With this method, people can combine the elegant brushstrokes of their personal passions and hobbies with their professional creations. Today's retirees and soon-to-be retirees find joy and fulfillment in doing work that pleases them, much like an artist who paints for the love of art even after their formal career has concluded. This is creating a retirement experience that is as nuanced and fulfilling as a well-curated gallery.
What is the 401(k) plan offered by Builders FirstSource?
The 401(k) plan at Builders FirstSource is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How does Builders FirstSource match employee contributions to the 401(k) plan?
Builders FirstSource offers a matching contribution to the 401(k) plan, which typically matches a percentage of the employee's contributions, helping to boost retirement savings.
When can employees of Builders FirstSource enroll in the 401(k) plan?
Employees of Builders FirstSource can enroll in the 401(k) plan during their initial onboarding period or during the annual open enrollment period.
What are the eligibility requirements for the 401(k) plan at Builders FirstSource?
To be eligible for the 401(k) plan at Builders FirstSource, employees generally need to be at least 21 years old and have completed a specified period of service.
Can employees of Builders FirstSource take loans against their 401(k) savings?
Yes, Builders FirstSource allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What investment options are available in the Builders FirstSource 401(k) plan?
The Builders FirstSource 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.
How can employees of Builders FirstSource access their 401(k) account information?
Employees can access their 401(k) account information through the Builders FirstSource benefits portal or by contacting the plan administrator.
What happens to the 401(k) plan if an employee leaves Builders FirstSource?
If an employee leaves Builders FirstSource, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Builders FirstSource plan if eligible.
Does Builders FirstSource offer financial education resources for its 401(k) plan?
Yes, Builders FirstSource provides financial education resources and workshops to help employees make informed decisions about their 401(k) savings.
Are there any fees associated with the Builders FirstSource 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Builders FirstSource 401(k) plan, which are disclosed in the plan documents.