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

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Should Continental Resources Employees Embrace Extended Careers Beyond 62

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Healthcare Provider Update: Healthcare Provider for Continental Resources Continental Resources typically offers healthcare coverage through major national insurers, with benefits administered by UnitedHealthcare. This enables the company to provide its employees with comprehensive health plans that include a range of medical services, preventive care, and wellness programs. Potential Healthcare Cost Increases in 2026 As we approach 2026, Continental Resources, like many other employers, faces a significant surge in healthcare costs that are projected to rise by approximately 8.5%. This increase arises from a perfect storm of factors, including heightened medical expenses driven by inflation, the potential loss of enhanced federal subsidies, and substantial rate hikes from insurers. Without congressional action to extend subsidy programs, employees could see their out-of-pocket costs escalate dramatically, potentially exceeding 75% for many, placing further financial strain on individuals and families. With these developments, strategic planning for healthcare expenditures will be essential for both employers and employees moving forward. Click here to learn more

Recent research indicates that fewer workers expect to continue full-time employment past the typical retirement age, a concerning trend for retirement fund sustainability in the US. Continental Resources, like many companies, are likely impacted by this as the Employee Benefit Research Institute identifies 62 as the median retirement age in the United States. The often-advised strategy of extending careers to counter insufficient retirement savings is being challenged by this shift.


A study by the Federal Reserve Bank of New York highlights a significant shift in job expectations post-pandemic. As of early 2024, only 46% of employees envisioned working full-time beyond the age of 62, down from 55% before the COVID-19 outbreak.  This trend spans various demographics, impacting age groups, income brackets, and educational backgrounds, with a notable decline among women.

While the survey did not delve into the reasons behind this change, researchers suggest several factors, including a growing preference for part-time work, increases in household wealth, more confidence in financial futures, shifts in workplace culture, and uncertainties about life expectancy.

These evolving workforce expectations have profound implications, especially for addressing the nation's retirement savings shortfall. The Pew Charitable Trusts project a deficit that could cost federal and state governments approximately $1.3 trillion between 2021 and 2040. BlackRock CEO Larry Fink, in his annual shareholder letter, highlighted the necessity of integrating older workers for longer durations to tackle this issue.


Moreover, funding Social Security remains a critical concern. The Social Security Trustees' latest annual report warns that the retirement trust fund will be depleted by 2033.  Proposed measures include raising the full retirement age from 67 to 68 for those born in 1960 or later, a strategy expected to bridge only 12% of the financial gap. Although this approach reduces benefits, it is seen as a feasible political solution.

The perspective of John Rekenthaler, a sixty-three-year-old vice president of research at Morningstar, embodies the broader sentiment among those who may find full-time work challenging, often due to health issues. His experiences reflect the human side of these broad economic trends.

For Continental Resources, the challenge is balancing the expansion of employment opportunities for older workers with the systemic issues of retirement planning and Social Security sustainability. As workforce dynamics evolve, merely prolonging careers may not fully address the retirement savings dilemma, necessitating a broader review of corporate policies and legislative actions.

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Many companies recognize the value of mature employees' contributions, with trends towards delaying retirement gaining traction. A 2022 AARP survey noted that employers value individuals aged 60 and above for their expertise and reliability, leading over 60% of top companies, including Continental Resources, to develop targeted programs. These initiatives often include flexible working conditions, mentorship roles, and tasks that utilize their extensive industry knowledge, supporting a gradual transition into retirement.

Think of the changing retirement landscape as the final act of a play. Traditionally, employees would take their final bow at 62, concluding their tenure as full-time workers in a predictable manner. However, recent research suggests a different narrative is emerging. Older workers are increasingly considering extended careers, akin to an experienced actor choosing to stay on stage due to the audience's appreciation and their passion for the craft. A blend of their seasoned expertise, financial necessity, and personal choice is influencing this shift. Many are opting for an encore, transforming the conclusion of their careers.

What type of retirement savings plan does Continental Resources offer to its employees?

Continental Resources offers a 401(k) retirement savings plan to help employees save for retirement.

Does Continental Resources provide a matching contribution for its 401(k) plan?

Yes, Continental Resources provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

How can employees at Continental Resources enroll in the 401(k) plan?

Employees at Continental Resources can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal.

What is the eligibility requirement for participating in Continental Resources' 401(k) plan?

Employees must be at least 21 years old and have completed a minimum period of service to be eligible for Continental Resources' 401(k) plan.

Can employees of Continental Resources choose how much they want to contribute to their 401(k) plan?

Yes, employees of Continental Resources can choose their contribution percentage, subject to IRS limits.

What investment options are available in the Continental Resources 401(k) plan?

The Continental Resources 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.

How often can employees at Continental Resources change their 401(k) contributions?

Employees at Continental Resources can change their 401(k) contributions at any time, subject to payroll processing deadlines.

What happens to the 401(k) savings if an employee leaves Continental Resources?

If an employee leaves Continental Resources, they can roll over their 401(k) balance to another retirement account or take a distribution, subject to tax implications.

Does Continental Resources allow for loans against the 401(k) plan?

Yes, Continental Resources allows employees to take loans against their 401(k) plan, subject to specific terms and conditions.

Are there any fees associated with the Continental Resources 401(k) plan?

Yes, there may be administrative fees associated with the Continental Resources 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.
Restructuring Layoffs: In 2024, Continental Resources announced a significant restructuring plan, leading to the layoff of approximately 15% of its workforce. This decision is part of a broader strategy to streamline operations and reduce costs amid fluctuating oil prices.
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For more information you can reach the plan administrator for Continental Resources at 20 N. Broadway Oklahoma City, OK 73102; or by calling them at (405) 234-9000.

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