Healthcare Provider Update: Healthcare Provider for Global Payments Global Payments, a prominent payment technology and software solutions provider, collaborates with various insurance providers to offer healthcare benefits to its employees. While specific healthcare providers may vary by region and plan, large insurers like Anthem and UnitedHealthcare are commonly associated with companies of this size, offering employer-sponsored health coverage options. Potential Healthcare Cost Increases in 2026 As we look toward 2026, employees of Global Payments may face significant increases in healthcare costs. A projected wave of premium hikes could see rates exceed 60% in some states, severely impacting out-of-pocket expenses. With many employers eyeing strategies to offset rising expenses, such as increasing deductibles and out-of-pocket maximums, employees must prepare for a potential financial strain. A recent study indicates that over 51% of large companies plan to shift more healthcare costs onto their workforce, coupled with the expiration of enhanced federal subsidies, which might ultimately leave employees with thousands in additional costs for same or lesser coverage. Careful planning and early decision-making regarding benefits will be crucial for navigating these changes effectively. 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 Global Payments. 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 Global Payments career. Advisors who want to fulfill their Global Payments 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 Global Payments 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 type of retirement savings plan does Global Payments offer to its employees?
Global Payments offers a 401(k) retirement savings plan to help employees save for their future.
Does Global Payments match employee contributions to the 401(k) plan?
Yes, Global Payments provides a matching contribution to employee 401(k) accounts, subject to certain terms and conditions.
What is the eligibility requirement for Global Payments employees to participate in the 401(k) plan?
Employees of Global Payments are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.
Can Global Payments employees choose how their 401(k) contributions are invested?
Yes, Global Payments employees can choose from a variety of investment options within the 401(k) plan to align with their personal financial goals.
What is the maximum contribution limit for the Global Payments 401(k) plan?
The maximum contribution limit for the Global Payments 401(k) plan is subject to IRS annual limits, which can change each year.
How often can Global Payments employees change their contribution amounts to the 401(k) plan?
Global Payments employees can typically change their contribution amounts at any time, allowing for flexibility in their savings strategy.
Does Global Payments allow for loans against the 401(k) plan?
Yes, Global Payments may allow employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.
What happens to my Global Payments 401(k) if I leave the company?
If you leave Global Payments, you can choose to roll over your 401(k) balance to another retirement account, leave it in the plan, or withdraw it, subject to tax implications.
Is there a vesting schedule for the Global Payments 401(k) matching contributions?
Yes, Global Payments has a vesting schedule for matching contributions, which means you earn rights to the employer match over time.
Can I access my Global Payments 401(k) funds before retirement?
While accessing your Global Payments 401(k) funds before retirement is generally discouraged, there are certain circumstances, such as financial hardship, that may allow for early withdrawals.