What Cardinal Health Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Cardinal Health Cardinal Health's operations primarily encompass the distribution of pharmaceuticals and medical products, but it does not operate as a traditional healthcare provider like a hospital or clinic. Instead, it partners with various healthcare providers, serving as a critical supply chain partner for hospitals, health systems, and pharmacies. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are projected to rise significantly, impacting employees at Cardinal Health. Factors such as the expiration of enhanced federal subsidies and rising medical expenses are leading to substantial increases in insurance premiums, with some markets expecting hikes of over 60%. As a result, many employees may face higher out-of-pocket costs for their healthcare, necessitating careful planning and benefit review to mitigate this financial strain. Companies, including Cardinal Health, are likely to adjust their benefit structures to manage these cost pressures, leading to higher deductibles and coinsurance for workers. Click here to learn more

For example, Cardinal Health employees planning on moving overseas need to have a clear plan of action to overcome the challenges of acquiring residency and citizenship in another country,' according to Brent Wolf from The Retirement Group at Wealth Enhancement Group.

Kevin Landis of The Retirement Group, a division of Wealth Enhancement Group, explains why detailed planning is crucial for Cardinal Health employees who intend to retire abroad. However,

In this article we will discuss:

1. The complexity of obtaining residency or citizenship abroad: Discussing the legal, financial, and cultural issues that are involved in moving overseas for Cardinal Health employees.

2. The necessity of professional advice and planning: Emphasizing the importance of thorough preparation and professional advice to ensure a smooth transition to retiring abroad.

3. Tax advantages and financial planning for retirees: Explaining the possible tax advantages that are available through international treaties and the strategic financial planning that needs to be done for the retirement savings of Cardinal Health employees.

Simply for political, economic, and social reasons, many Cardinal Health employees are looking to secure citizenship or residency in other countries if the United States is not as attractive as it once was. But, getting residency in another country and, perhaps, citizenship is not as simple as just buying a plane ticket and setting an itinerary.

This is because there are many processes that may take a few years to accomplish at times. The more people who are considering these options, the more difficult these choices become. It is therefore crucial to identify the legal, financial, and cultural implications that arise in order to ensure a smooth transition to a new home overseas before embarking on this journey.

Without a proper plan and some professional advice, it can be quite a challenge to switch gears and retire during your tenure at Cardinal Health.

The impact of potential tax advantages when retiring abroad will definitely affect your financial position. Many countries, including the United States, have tax treaties that prevent income from being taxed twice. For instance, pensioners are attracted to Portugal by the Non-Habitual Resident (NHR) regime that offers special tax concessions for up to 10 years.

You can enhance your retirement benefits by taking advantage of these perks and seeking the advice of a tax specialist. The IRS notes that because these treaties can be very different it is important to research and seek the advice of a professional (IRS, 2023). These advantages must be used by Cardinal Health employees to enhance their retirement.

Expatriating and retiring is a process of planning a long and beautiful road trip. Just as you would not travel without a map, a well-maintained car, and knowledge of your location, Cardinal Health employees who are retiring abroad need to plan carefully.

Featured Video

Articles you may find interesting:

Step by step, you will be guided on how to make your transition to your new home easier, from explaining cultural differences and tax benefits to helping you understand the legal and financial environment. Just as a road trip opens new views and experiences, retirement abroad presents a world of possibilities for a happy and comfortable retirement.

Sources:

1. The Warren Street Wealth Advisors Team. 'Cardinal Health and Large Company Employees.' Warren Street Wealth Advisors, 3 Feb. 2025, Accessed from warrenstreetwealth.com.

2. 'US Taxes for Americans Retiring Abroad in 2025.' MyExpatTaxes, 20 Nov. 2024, Accessed 3 Feb. 2025 from myexpattaxes.com.

3. Toms, Mary, CPA, MBA, MS. 'US Tax Implications of Retiring Abroad: What You Need to Know.' PBMares, 10 Dec. 2024, Accessed 3 Feb. 2025 from pbmares.com.

4. 'Financial Planning for US Expatriates.' The Expat Financial, Accessed 3 Feb. 2025 from expatfinancial.com.

5. 'Retiring Overseas: What You Need to Know About Your US Taxes and Financial Planning.' Expat CPA, Accessed 3 Feb. 2025 from expatcpa.com.

   What is the 401(k) plan offered by Cardinal Health?

   The 401(k) plan at Cardinal Health is a retirement savings plan that allows employees to save a portion of their earnings on a tax-deferred basis.

   How does Cardinal Health match employee contributions to the 401(k) plan?

   Cardinal Health offers a matching contribution to the 401(k) plan, where the company matches a percentage of employee contributions up to a certain limit.

   What are the eligibility requirements for Cardinal Health's 401(k) plan?

   Employees of Cardinal Health are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.

   Can employees of Cardinal Health change their contribution percentages to the 401(k) plan?

   Yes, employees can change their contribution percentages to the Cardinal Health 401(k) plan at any time, subject to certain guidelines.

   What investment options are available in Cardinal Health's 401(k) plan?

   Cardinal Health's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

   Is there a vesting schedule for Cardinal Health's 401(k) matching contributions?

   Yes, Cardinal Health has a vesting schedule for matching contributions, which means employees must work for a certain number of years to fully own the matched funds.

   How can employees access their 401(k) account information at Cardinal Health?

   Employees can access their 401(k) account information through Cardinal Health's employee portal or by contacting the plan administrator.

   What happens to my Cardinal Health 401(k) if I leave the company?

   If you leave Cardinal Health, you can choose to leave your 401(k) funds in the plan, roll them over to another retirement account, or withdraw the funds, subject to tax implications.

   Are there loan options available through Cardinal Health's 401(k) plan?

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

   What is the maximum contribution limit for Cardinal Health's 401(k) plan?

   The maximum contribution limit for Cardinal Health's 401(k) plan is in line with IRS guidelines, which may change annually.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Major distributor of pharmaceuticals
   Cardinal Health offers RSUs and stock options to certain employees. These RSUs vest over time, aligning employee interests with company performance.