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New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

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Magellan Midstream Partners Employees: Discover the Rising Trend of 'Work for Pleasure' in Your Retirement Journey

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Healthcare Provider Update: Healthcare Provider for Magellan Midstream Partners Magellan Midstream Partners, like many large companies, typically provides a range of healthcare options for its employees, including coverage through major national insurers. The specific providers may vary, but among the top insurers suggesting significant premium increases for 2026 are UnitedHealthcare, Anthem, and Cigna, which may impact Magellan employees. Potential Healthcare Cost Increases in 2026 As the healthcare landscape evolves, Magellan Midstream Partners employees are poised to face significant cost increases in 2026. With healthcare premiums expected to rise sharply, particularly due to the expiration of enhanced federal subsidies, employees could see out-of-pocket costs escalate by over 75%. These anticipated hikes, with some states reporting individual market increases of more than 60%, highlight the pressing need for employees to review their healthcare plans proactively, taking steps to minimize financial strain amidst these escalating expenses. 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 Magellan Midstream Partners. 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 Magellan Midstream Partners career. Advisors who want to fulfill their Magellan Midstream Partners 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 Magellan Midstream Partners 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 Magellan Midstream Partners offer to its employees?

Magellan Midstream Partners offers a 401(k) retirement savings plan to its employees.

Does Magellan Midstream Partners match employee contributions to the 401(k) plan?

Yes, Magellan Midstream Partners provides a matching contribution to employee contributions to the 401(k) plan, subject to certain limits.

What is the eligibility requirement for employees to participate in the Magellan Midstream Partners 401(k) plan?

Employees of Magellan Midstream Partners are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

How can employees of Magellan Midstream Partners enroll in the 401(k) plan?

Employees can enroll in the Magellan Midstream Partners 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What investment options are available in the Magellan Midstream Partners 401(k) plan?

The Magellan Midstream Partners 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can employees of Magellan Midstream Partners change their contribution percentage to the 401(k) plan?

Yes, employees can change their contribution percentage to the Magellan Midstream Partners 401(k) plan at any time, subject to plan rules.

Is there a limit on how much employees can contribute to the Magellan Midstream Partners 401(k) plan?

Yes, the IRS sets annual contribution limits for 401(k) plans, and employees of Magellan Midstream Partners must adhere to these limits.

When can employees of Magellan Midstream Partners access their 401(k) funds?

Employees can access their 401(k) funds upon reaching retirement age, or in cases of hardship, termination of employment, or other qualifying events as defined by the plan.

Does Magellan Midstream Partners offer a loan option against the 401(k) plan?

Yes, Magellan Midstream Partners allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.

What happens to the 401(k) plan if an employee leaves Magellan Midstream Partners?

If an employee leaves Magellan Midstream Partners, they may roll over their 401(k) balance to another retirement account, cash out, or leave it in the plan if permitted.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Plan Name: Magellan Midstream Partners Pension Plan Years of Service and Age Qualification: Employees generally need to have 5 years of service to qualify for benefits. The typical retirement age is 65. Pension Formula: Benefits are calculated based on a formula that considers years of service and average salary, but specific details are not disclosed publicly. Plan Name: Magellan Midstream Partners 401(k) Plan Eligibility: Employees are eligible to participate in the 401(k) plan after completing 30 days of service. Matching Contributions: The company offers a matching contribution up to a certain percentage of the employee's contribution, which is outlined in the plan details. Source Document: Magellan Midstream Partners 2023 Employee Benefits Summary
Restructuring and Layoffs: In 2023, Magellan Midstream Partners announced a restructuring plan aimed at streamlining operations and reducing costs. This included layoffs as part of their effort to optimize their workforce and improve overall efficiency. This restructuring is part of their strategy to better align with current market conditions and enhance profitability.
In 2022, Magellan Midstream Partners offered Stock Options (SO) and Restricted Stock Units (RSUs) to its senior executives and key employees. These were detailed in the annual report,
Company Official Website: The company's official website is Magellan Midstream Partners. Typically, companies include detailed health benefits information in the "Careers" or "Employee Benefits" sections. I'll look for specific terms and acronyms used by the company. HR and Benefits Reports: Magellan Midstream Partners often publishes annual reports or updates on their benefits. These reports can be found in the "Investor Relations" section or similar areas. Employee Reviews and Forums: Websites like Glassdoor and Indeed offer insights from current and former employees about the company's health benefits. These can provide practical details and employee sentiments. News Articles and Industry Reports: News outlets and industry reports might cover recent changes or news related to employee health benefits. Websites like Bloomberg, Reuters, or industry-specific publications are good sources. Healthcare Benefits Providers: Information about the healthcare providers and plans offered by the company can sometimes be found on third-party benefits comparison sites or directly from the providers themselves
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