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

Henry Schein Employees, Prepare for Enhanced HSA Benefits in 2025

Healthcare Provider Update: Healthcare Provider for Henry Schein Henry Schein, Inc. is recognized as the world's largest provider of healthcare solutions for office-based dental and medical practitioners. The company distributes a wide range of products, including dental and medical supplies, equipment, and pharmaceuticals, making it a key player in the healthcare market. Potential Healthcare Cost Increases in 2026 As 2026 approaches, healthcare costs are projected to rise significantly, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Record premium hikes are expected, with some states eyeing increases exceeding 60%. This steep rise is primarily driven by escalating medical costs, the looming expiration of federal premium subsidies, and aggressive rate increases from major insurers. Without action from Congress to extend these enhanced subsidies, many enrollees may face out-of-pocket premium increases of over 75%, transforming healthcare affordability into a critical issue for millions. Click here to learn more

For Henry Schein employees, maximizing contributions to your HSA in 2025 may be a smart way to control costs around healthcare and also grow your long-term savings for retirement, said.

With the increase in HSA contribution limits coming soon, Henry Schein employees approaching retirement should take advantage of this opportunity to grow their healthcare savings now so they can take a tax-efficient approach to future medical costs, said Sullivan.

In this article, we will discuss:

1. Limits on 2025 IRS health savings account (HSA) contributions.

2. How HSAs give you a triple tax advantage and help you control costs for healthcare.

3. HSAs & retirement planning & Medicare premiums.

The IRS has announced inflation-adjusted increases to the health savings account (HSA) contribution limits for 2025. The contribution cap for those with self-only health coverage will increase from USD 4,150 in 2024 to USD 4,300 in 2025, and for families, the maximum will increase from USD 8,300 to USD 8,550.

HSAs provide a triple tax benefit - contributions are deductible, account assets grow tax-free, and withdrawals for approved medical expenses are tax-free. Such features help HSAs manage healthcare costs.

Your high-deductible health plan must offer an HSA. For the year 2025, the IRS says the plans must carry a USD 1,650 individual deductible and USD 3,300 family deductible.Even with all these benefits, a 2023 survey by the Plan Sponsor Council of America found only 19% of HSA account holders invest—most keep their savings in cash—potentially missing big growth opportunities.

The IRS is also updating the catch-up contribution limit for Henry Schein employees over age 55 this year—keeping the USD 1,000 catch-up contribution for now.Understand HSAs and how they could benefit your financial strategy—especially with the rise of healthcare costs and retirement planning. Prompt financial decisions such as switching to a Roth IRA or drafting a will are life planning steps as well.

And for Henry Schein employees approaching retirement age: HSA money can help pay for Medicare premiums when you turn 65. That includes Medicare Advantage plans, as well as Parts B and D premiums, although Medigap premiums are not eligible for HSA expenditure. While not all medical expenses are covered by Medicare, funding these costs through HSAs could optimize your healthcare spending in retirement. A 2022 study by Fidelity Investments estimated medical costs for a retired couple would be around USD 315,000 after taxes.

Consider your health savings account (HSA) an essential tool in your financial toolkit. Like getting a new phone, increasing HSA contribution limits for 2025 gives you more options to manage and invest in your healthcare. You can think of contributing to your HSA as downloading an app that gives you triple tax benefits—deductions on contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. This keeps your health coverage as current and efficient as new technology—making your HSA a critical component of your Henry Schein retirement planning strategy.

Articles you may find interesting:

Sources:

1. Fidelity Investments. 'HSA Contribution Limits 2024 and 2025.' Fidelity.com , 23 Jan. 2025, https://www.fidelity.com/learning-center/smart-money/hsa-contribution-limits . Accessed 5 Mar. 2025.

2. Plan Sponsor Council of America (PSCA). 'Helping Employees Enroll in HSAs.' PSCA.org , 9 Nov. 2023, https://www.psca.org/news/psca-news/2023/11/PR_2023_HSAreprot . Accessed 5 Mar. 2025.

3. Internal Revenue Service (IRS). 'Part III Administrative, Procedural, and Miscellaneous.' IRS.gov , May 2024, https://www.irs.gov/pub/irs-drop/rp-24-25.pdf . Accessed 5 Mar. 2025.

4. Woodruff Sawyer. 'IRS Releases 2025 HSA Contribution Limits and HDHP Deductible and Out-of-Pocket Limits.' Woodruffsawyer.com , 13 May 2024, https://woodruffsawyer.com/insights/2025-hsa-limits-released . Accessed 5 Mar. 2025.

5. Plan Sponsor Council of America (PSCA). 'HSAs: A Growing Retirement Savings Strategy.' 401k Specialist , Nov. 2023, https://401kspecialistmag.com/higher-numbers-of-hsas-positioned-as-retirement-savings-strategy . Accessed 5 Mar. 2025.

What is the purpose of the 401(k) plan offered by Henry Schein?

The purpose of the 401(k) plan offered by Henry Schein is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.

How can employees enroll in the Henry Schein 401(k) plan?

Employees can enroll in the Henry Schein 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.

What types of contributions can employees make to the Henry Schein 401(k) plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and potentially catch-up contributions if they are age 50 or older in the Henry Schein 401(k) plan.

Does Henry Schein offer any matching contributions to the 401(k) plan?

Yes, Henry Schein offers a matching contribution to the 401(k) plan, which helps employees boost their retirement savings.

What is the vesting schedule for the Henry Schein 401(k) matching contributions?

The vesting schedule for Henry Schein’s matching contributions typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a specified period.

Can employees take loans against their 401(k) balance at Henry Schein?

Yes, employees may have the option to take loans against their 401(k) balance at Henry Schein, subject to the plan's terms and conditions.

What investment options are available in the Henry Schein 401(k) plan?

The Henry Schein 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock, allowing employees to diversify their portfolios.

How often can employees change their contribution amounts in the Henry Schein 401(k) plan?

Employees can typically change their contribution amounts in the Henry Schein 401(k) plan on a quarterly basis or as specified by the plan’s rules.

What happens to the 401(k) plan if an employee leaves Henry Schein?

If an employee leaves Henry Schein, they have several options for their 401(k) plan, including rolling it over to another retirement account, cashing it out (subject to taxes and penalties), or leaving it in the Henry Schein plan if allowed.

Are there any fees associated with the Henry Schein 401(k) plan?

Yes, there may be administrative fees and investment-related fees associated with the Henry Schein 401(k) plan, which are disclosed in the plan documents.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Pension Plan: Henry Schein Pension Plan Years of Service/Age Qualification: 10 years of service or age 55 with 5 years of service Pension Formula: Final average pay multiplied by years of service 401(k) Plan: Henry Schein 401(k) Plan Eligibility: Employees over 21 years of age and have completed 1 year of service Company Match: 50% match on the first 6% of contributions

Restructuring and Layoffs: In 2023, Henry Schein announced a strategic restructuring plan aimed at enhancing operational efficiency and streamlining its global operations. This decision led to a reduction in workforce by approximately 5% to align with the company's new focus on digital transformation and expanded healthcare services. This restructuring is part of a broader effort to optimize performance and adapt to evolving market conditions. Importance: Addressing this news is crucial given the current economic climate and investment environment. Companies are continuously adapting to market changes, which impacts their workforce and operational strategies. Keeping informed about such developments helps stakeholders understand the broader implications for investment and economic stability.

Henry Schein offers stock options and RSUs to its employees as part of its compensation packages. In 2022, Henry Schein provided stock options under the acronym "SO" and RSUs under "RSU" to eligible employees, including executives and key personnel. These options and units are intended to align employee interests with company performance and long-term goals. [Source: Henry Schein Annual Report 2022, Page 47]

Healthcare Benefits (2023/2024): Henry Schein offers a range of health benefits including medical, dental, and vision coverage. They provide health insurance through major providers, and the plans often include wellness programs, preventative care, and employee assistance programs (EAP). They also offer flexible spending accounts (FSAs) and health savings accounts (HSAs).

Additional Articles

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For more information you can reach the plan administrator for Henry Schein at , ; or by calling them at .

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