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

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Tesla Employees: Discover the Key Questions to Ask for a Fulfilling Retirement Journey

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Healthcare Provider Update: Healthcare Provider for Tesla Tesla, as a large employer, utilizes several healthcare providers to facilitate employee health plans. The specific providers can vary by location and employee needs, but major insurers such as UnitedHealthcare and Anthem Blue Cross Blue Shield are commonly utilized in various regions. Potential Healthcare Cost Increases for Tesla in 2026 In 2026, Tesla employees may face significant healthcare cost increases, echoing a broader industry trend due to escalating premiums tied to the Affordable Care Act (ACA). Reports indicate that some states may see rate hikes exceeding 60%, driven by factors such as high medical cost inflation and the potential expiration of enhanced federal subsidies. Consequently, out-of-pocket premium costs could rise dramatically, potentially affecting nearly all employees who rely on marketplace plans. This financial pressure underscores the importance for Tesla to strategize on health plan offerings for its workforce amidst these anticipated shifts. Click here to learn more

Eight years ago, in my mid-40s, I attended a dinner party where I witnessed an older man, slightly tipsy from his gin, pose a question to a young girl: “What do you want to be when you grow up?” Her response was a gleefully rattled off list: veterinarian, painter, computer programmer. I listened, intrigued, which soon turned into a near-panic realization. She had time to be all those things. However, no one was asking me what I wanted to be at a mature age. More critically, I wasn’t asking myself that question. At Tesla, midlife is often not just a reflection but a redirection, sparking new career phases and personal growth.

Midlife is often seen as a 'crisis' time, marked by a U-shaped happiness curve with a dip in middle years. A significant reason for this is a tendency to fall into a vicious circle of complacency, where we lean heavily on our existing skills. We are reassured by our competence yet constrained by our perceived limitations, distributing our time accordingly. This inertia can pose health risks if it leads to prolonged burnout. Conversely, pondering 'What do I want to be?' can foster positive age perceptions and a strong will to live, something Tesla professionals understand well, encouraging ongoing learning and adaptation.

This dinner party encounter propelled me into an unexpected six-year journey to become a competitive athlete, something I would never have envisioned. As a skinny, gangly child born a year before Title IX was amended, I always had an instinctive craving for what sports could offer me. Usually picked last for teams and warming the bench, I leaned into what I was praised for—stringing words together—and followed this feedback into a journalism career. I found myself tethered to my keyboard, leading a sedentary life of sitting and screen watching. Meanwhile, athletics took a backseat. Indeed, no one burst with joy when I fumbled on the seventh-grade basketball court, a reminder that we value resilience and the courage to try new roles, regardless of past experiences.

I was advised that by embracing something you enjoyed as a child and were naturally good at, it could become your superpower. Whether true or not, I’d be thrilled to gain an additional 7.5 years of life. This figure comes from Becca Levy, a Yale epidemiology professor who led a pioneering study linking age perception with mortality data. She concluded that individuals with a more positive view of aging lived an average of 7.5 years longer. Central to these positive perceptions was maintaining a 'will to live,' encompassing activities that excite and motivate us—much like the ongoing development opportunities at Tesla, where employees are encouraged to engage in activities that fuel their passion and vitality.

After discussing with Levy and reviewing multiple studies from health, cognition, and longevity experts for my book 'Not Too Late: The Power of Pushing Limits at Any Age,' one conclusion was clear: avoiding the skill trap as we age is vital for preserving our sharpness and agility. Chronic exhaustion—like that which comes from tackling tough situations—has been linked to anxiety, depression, and an increased risk of making mistakes. By embracing new or uncomfortable experiences, we stop forcing our brain to operate on autopilot and make challenging choices. For example, always taking the same route, eating at the same restaurants, talking to the same people, or performing the same job in the same way. Routines have their place, but not when they put your life on autopilot, a philosophy well-aligned with Tesla’s emphasis on innovation and dynamic career paths.

The Seattle Longitudinal Study, a significant research project running from 1956 to 2012, investigated cognitive development and change through adulthood. Over 6,000 adults, aged 22 to 100, participated, undergoing exercises to assess their cognitive skills. K. Warner Schaie, the lead author, wrote: 'When one stops making decisions, it won't be long before it's hard to make decisions at all. The belief that one can do no more becomes a self-fulfilling prophecy.' At Tesla, we challenge this notion by fostering an environment where lifelong learning and decision-making are key components of our culture.

Still disoriented the morning after the dinner party, a simple Google search on 'the most challenging activities to do' led me to obstacle course racing (OCR), a demanding sport that combines running with obstacles such as carrying heavy sandbags and navigating ropes and monkey bars. An OCR variant will be featured in the 2028 Olympic Games as part of the modern pentathlon.

OCR was my answer to the old man’s question. Although I was certainly older, 'athlete' was still something I longed to be. Thus, for the past six years, I have trained nearly every day, despite my other responsibilities and professional obligations, to become what I always wished to be as a little girl but never imagined possible. As a competitive athlete, I've participated in over 50 races, won numerous medals in my age group, and competed in two world championships of the Spartan Race.

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When I was younger, there wasn't much to tell me that I could ever develop these skills. However, by tapping into the qualities, experience, and wisdom I now possess as an adult, I finally achieved this. Your ambition might differ, but you can also realize it. The path forward requires a reorganization of time and priorities. Three strategies to consider when embarking on your own quest to escape the skill prison:

  1. Do not impose entry barriers.
  2. Try something you truly enjoy, regardless of whether you think you are skilled at it.
  3. Be willing to appear foolish.

According to research, retirees who regularly ask themselves reflective questions about their life satisfaction tend to experience greater joy. A Harvard University study found that questions like 'What activities bring me joy?' and 'How can I continue to grow and learn?' are crucial for maintaining a fulfilling retirement. Regular self-assessment helps retirees align their activities with their values, enhancing overall well-being.

Explore how embracing new challenges can enhance your retirement years. This article examines how to push boundaries, avoid chronic monotony, and extend your life with expert advice and real-life examples. Keywords: retirement, active aging, mental well-being, overcoming ennui, longevity, new challenges, maintaining activity, positive age perceptions, health benefits, retirement activities.

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

Tesla offers a 401(k) retirement savings plan to its employees.

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

Yes, Tesla provides a matching contribution to employee 401(k) plans, subject to certain limits.

What is the maximum employee contribution percentage allowed for Tesla's 401(k) plan?

Employees at Tesla can contribute up to the IRS limit, which is typically 100% of their salary up to a specified dollar amount.

Can Tesla employees choose between traditional and Roth 401(k) contributions?

Yes, Tesla offers both traditional and Roth 401(k) contribution options for employees.

How often can Tesla employees change their 401(k) contribution amounts?

Tesla employees can change their contribution amounts at any time, subject to plan rules.

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

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

Is there a vesting period for Tesla's 401(k) matching contributions?

Yes, Tesla has a vesting schedule for matching contributions, which typically requires employees to work for a certain period before they fully own the match.

Can Tesla employees take loans against their 401(k) savings?

Yes, Tesla allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

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

If you leave Tesla, you can roll over your 401(k) to another retirement account, cash it out, or leave it with Tesla, depending on the plan rules.

Are there penalties for early withdrawal from Tesla's 401(k) plan?

Yes, early withdrawals from Tesla's 401(k) plan may incur penalties and taxes unless specific conditions are met.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Restructuring and Layoffs: Tesla planned to lay off 10% of its workforce (around 14,000 employees) in 2024 due to slowing sales and economic pressures. The layoffs primarily affected salaried employees. Company Benefit Changes: Severance packages and support for affected employees were provided. Tesla continues to invest in expanding its Gigafactories and enhancing its Full Self-Driving service. (Sources: Markets Insider, Engadget)
Tesla offers stock options (SOs) and Restricted Stock Units (RSUs). SOs allow employees to purchase stock at a fixed price after vesting. RSUs vest over four years. In 2022, Tesla emphasized performance-based RSUs. In 2023, Tesla continued with RSUs as the primary equity compensation. By 2024, Tesla expanded RSU programs. Executives, management, and broader employees are eligible. [Source: Electrek; Tesla Motors Club; Tesla Annual Report 2023, p. 50]
Tesla offers a comprehensive healthcare benefits package designed to meet the diverse needs of its employees. For 2023, Tesla provided various health insurance options, including high-deductible health plans (HDHPs) with Health Savings Accounts (HSAs), covering a wide range of medical, dental, and vision services. Employees benefit from free Aetna medical insurance, Delta Dental, and VSP vision coverage. The company also emphasizes mental health, offering resources like counseling services and wellness programs aimed at promoting overall well-being. In 2024, Tesla continues to enhance its benefits package with a focus on holistic employee wellness. The company offers comprehensive support for family building, including fertility benefits and parental leave. Tesla also provides fitness perks such as on-site gyms and fitness classes. These enhancements are particularly important in the current economic and political climate, where healthcare affordability and accessibility are significant concerns. By continuously updating its benefits, Tesla ensures its employees are well-supported, fostering a healthy and productive work environment.
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For more information you can reach the plan administrator for Tesla at , ; or by calling them at .

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

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