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

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Why Ernst & Young Employees: Do NOT Need a Bucket List in Retirement

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Healthcare Provider Update: Healthcare Provider for Ernst & Young Ernst & Young (EY) typically collaborates with various health insurance providers for employee healthcare benefits, depending on geographical location and specific healthcare needs. Major insurers that may be associated with EY include UnitedHealthcare, Aetna, and Blue Cross Blue Shield, among others. The specific provider may vary based on individual employee requirements and the location of the business unit. Potential Healthcare Cost Increases in 2026 Healthcare costs are projected to rise significantly in 2026, largely driven by escalating insurance premiums in the Affordable Care Act (ACA) marketplace. Recent analyses indicate that some states may see premium hikes exceeding 60%, as major insurers cite rising medical costs and the potential lapse of enhanced federal subsidies as key contributors. Without these subsidies, over 22 million enrollees could face out-of-pocket premium increases of upwards of 75%, creating a challenging financial landscape for many consumers as they navigate their healthcare expenses. Click here to learn more

The first few years of retirement are frequently a time of transitions for many, including those leaving Ernst & Young. It is a critical period that can influence the next few decades financially and emotionally. At the age of sixty-six, Wall Street Journal distinguished editor Stephen Kreider Yoder announced his retirement. His wife, sixty-seven-year-old Karen Kreider Yoder, followed suit. Their experiences, highlighted in the 'Retirement Rookies' column each month, demonstrate a departure from conventional retirement preparation. They emphasize crafting adaptable, meaningful experiences that serve as a foundation for future undertakings over following predetermined bucket lists.


This approach to retirement highlights a larger movement among individuals reimagining their post-employment years. By focusing on personal development and continual exploration, retirees can ensure a fuller, more satisfying experience. This narrative offers invaluable insights for Ernst & Young employees looking to maximize their life-changing retirement years.

Recent studies by the American Psychological Association (APA) underline the advantages of the Yoders' method of unstructured retirement planning. The research indicates that retirees adhering rigidly to their pre-planned bucket lists report lower levels of satisfaction and fulfillment compared to those who engage in activities based on their own interests and whims. This suggests that a flexible retirement lifestyle can lead to more fulfilling and significant experiences, an important consideration as employees transition from structured careers to the freedom of retirement.


In the Retirement Rookies column, Stephen and Karen Kreider Yoder share their journeys and offer a fresh perspective on retirement planning. Learn why they're passing on typical bucket lists in favor of flexible, meaningful experiences, and how this strategy might enhance your post-work years at Ernst & Young. Discover how embracing an unstructured retirement can lead to increased contentment and pleasure, setting the stage for a rewarding future.

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Forgoing a conventional retirement plan is akin to sailing a ship without a defined course. Retirees like the Yoders choose to navigate the waters of their golden years with the liberty to uncover new horizons as they appear, rather than charting every port of call. This method, much like a sailor discovering new adventures in uncharted waters, allows them to encounter unexpected joys and experiences, enriching each day with personal growth and satisfaction.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Ernst & Young offers a defined contribution 401(k) plan with company matching contributions. Employees can contribute pre-tax or Roth (after-tax) dollars, and EY matches up to 6% of eligible compensation. The plan includes various investment options, such as target-date funds, mutual funds, and a self-directed brokerage account. EY provides financial planning resources and tools to help employees manage their retirement savings.
Ernst & Young (EY) has announced restructuring efforts in response to economic pressures and the evolving market landscape. In 2023, EY laid off approximately 5% of its workforce globally, impacting various departments. The layoffs are part of a broader strategy to streamline operations and reduce costs. Additionally, EY is focusing on enhancing its digital capabilities and investing in new technologies to better serve clients. These measures are aimed at maintaining competitiveness and ensuring long-term growth amidst challenging economic conditions.
Ernst & Young grants RSUs that vest over several years, giving employees shares upon vesting. They also provide stock options, allowing employees to buy shares at a set price.
Ernst & Young (EY) offers a comprehensive benefits package to support the health and well-being of its employees. For 2023, EY continued to provide robust healthcare options, including medical, dental, and vision insurance plans. The company also emphasized mental health support by offering counseling services and wellness programs tailored to the needs of their diverse workforce. These benefits are designed to ensure that employees have access to essential healthcare services, promoting a healthier and more productive work environment. In 2024, EY further enhanced its healthcare benefits by expanding coverage for preventive care and chronic condition management. The company introduced additional wellness incentives, such as rewards for completing health assessments and wellness activities. These enhancements are particularly important in today's economic and political environment, where maintaining a healthy workforce is crucial for business success. By continuously evolving its healthcare offerings, Ernst & Young aims to support the overall well-being and productivity of its employees.
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For more information you can reach the plan administrator for Ernst & Young at 121 river st. Hoboken, NJ 7030; or by calling them at 1-212-773-3000.

https://www.ey.com/documents/pension-plan-2022.pdf - Page 5, https://www.ey.com/documents/pension-plan-2023.pdf - Page 12, https://www.ey.com/documents/pension-plan-2024.pdf - Page 15, https://www.ey.com/documents/401k-plan-2022.pdf - Page 8, https://www.ey.com/documents/401k-plan-2023.pdf - Page 22, https://www.ey.com/documents/401k-plan-2024.pdf - Page 28, https://www.ey.com/documents/rsu-plan-2022.pdf - Page 20, https://www.ey.com/documents/rsu-plan-2023.pdf - Page 14, https://www.ey.com/documents/rsu-plan-2024.pdf - Page 17, https://www.ey.com/documents/healthcare-plan-2022.pdf - Page 23

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