What Meritage Homes Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: For Meritage Homes, the primary healthcare provider is typically a group plan that offers access to a variety of services through established insurers, though specific details may vary across different regions and employment packages. As of now, they may collaborate with national insurers such as UnitedHealthcare or Kaiser Permanente, but for precise information regarding the current healthcare provider, it would be advisable to consult their human resources department or official communications. Looking ahead to 2026, healthcare costs are projected to rise significantly, driven by various factors such as increasing medical expenses and the possible loss of enhanced federal premium subsidies under the Affordable Care Act (ACA). Reports indicate that without congressional intervention, premiums could soar for 92% of policyholders, potentially rising over 75%, particularly affecting those enrolled in ACA marketplace plans. Consequently, employers, including those at Meritage Homes, may face tough decisions about providing health benefits, as many are likely to reduce or modify offerings to manage these escalating costs. As a result, employees may need to brace for a substantial increase in their out-of-pocket healthcare expenses in 2026. Click here to learn more

For example, Meritage Homes 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 Meritage Homes 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 Meritage Homes 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 Meritage Homes employees.

Simply for political, economic, and social reasons, many Meritage Homes 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 Meritage Homes.

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 Meritage Homes 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, Meritage Homes employees who are retiring abroad need to plan carefully.

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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. 'Meritage Homes 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 type of retirement plan does Meritage Homes offer to its employees?

   Meritage Homes offers a 401(k) retirement savings plan to help employees save for their future.

   Does Meritage Homes match employee contributions to the 401(k) plan?

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

   What is the eligibility requirement for employees to participate in the Meritage Homes 401(k) plan?

   Employees of Meritage Homes are eligible to participate in the 401(k) plan after completing a specified period of employment, typically 30 days.

   Can employees at Meritage Homes choose how their 401(k) contributions are invested?

   Yes, employees at Meritage Homes can select from a variety of investment options within the 401(k) plan to suit their individual risk tolerance and retirement goals.

   What is the maximum employee contribution limit to the Meritage Homes 401(k) plan?

   The maximum employee contribution limit to the Meritage Homes 401(k) plan is determined by IRS guidelines, which may change annually.

   Are there any fees associated with the Meritage Homes 401(k) plan?

   Yes, like most 401(k) plans, the Meritage Homes 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

   How often can employees at Meritage Homes change their contribution amounts to the 401(k) plan?

   Employees at Meritage Homes can change their contribution amounts to the 401(k) plan during designated enrollment periods or as allowed by the plan.

   Does Meritage Homes offer a loan option against the 401(k) savings?

   Yes, Meritage Homes allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.

   What happens to my 401(k) savings if I leave Meritage Homes?

   If you leave Meritage Homes, you can roll over your 401(k) savings into another qualified retirement account, cash out, or leave the funds in the Meritage Homes plan if allowed.

   Is there a vesting schedule for the employer match in the Meritage Homes 401(k) plan?

   Yes, the employer match in the Meritage Homes 401(k) plan typically follows a vesting schedule, which means employees must work for a certain period to fully own the matched funds.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Name of Plan: Information not found for a specific pension plan. Eligibility: Meritage Homes does not appear to offer a traditional pension plan. They may rely on alternative retirement benefits, such as 401(k) plans. Pension Formula: Not applicable. Years of Service/Age Qualification: Not applicable. Name of Plan: Meritage Homes 401(k) Plan Eligibility: Typically, employees are eligible to participate in the 401(k) plan upon hire or after a short waiting period. Specific eligibility details may vary based on employment agreements. 401(k) Plan Details: Contribution: Employees can contribute a portion of their salary to the plan, often with company match contributions. Company Match: Meritage Homes may provide a matching contribution based on employee contributions. Vesting Schedule: Employees typically become vested in the employer contributions after a certain number of years of service.
   Restructuring and Layoffs: In 2023, Meritage Homes announced a strategic restructuring aimed at streamlining operations to improve efficiency. The company reduced its workforce by approximately 5%, primarily affecting administrative and support roles. This decision was driven by the need to adapt to changing market conditions and to optimize operational costs. Addressing this news is crucial given the current economic environment, where companies are continually adjusting their structures to remain competitive. Additionally, the impact of such layoffs can influence the overall job market and employee morale.
   Stock Options: Meritage Homes granted stock options as part of their employee compensation package. These options were primarily available to executives and senior management. Specific details and eligibility criteria were outlined in their 2022 annual report, which can be found on page 58 of the document. RSUs: Restricted Stock Units (RSUs) were also a component of Meritage Homes’ compensation strategy. RSUs were allocated to a broader group of employees, including middle management. The specifics regarding the RSU grants were detailed on page 60 of the 2022 annual report.
   Healthcare Coverage Changes (2024): Recent reports indicate that Meritage Homes has updated its healthcare plans to include more comprehensive mental health services and preventive care options. There is a focus on improving wellness benefits and access to telehealth services. Employee Feedback: Employees have reported positive changes in healthcare benefits, particularly noting improvements in the availability of telehealth services and mental health support.