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

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Top Retirement Destinations for Thermo Fisher Scientific Employees: Discover Where You Can Thrive in Your Golden Years

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Healthcare Provider Update: Healthcare Provider for Thermo Fisher Scientific Thermo Fisher Scientific does not operate as a healthcare provider in the traditional sense; rather, it is a leading global provider of laboratory equipment and healthcare solutions, primarily serving pharmaceutical companies, hospitals, and research institutions. The company's services range from the manufacture of laboratory supplies to offering analytical instruments and diagnostic reagents, thereby supporting healthcare providers in their missions. Potential Healthcare Cost Increases in 2026 As healthcare costs continue to climb, 2026 is anticipated to see significant premium increases for consumers, particularly within the Affordable Care Act (ACA) marketplace. With some states projecting hikes exceeding 60%, factors like the expiration of enhanced federal subsidies and escalating medical costs converge to challenge affordability. Reports indicate that without congressional intervention, approximately 92% of ACA policyholders may face a staggering rise of over 75% in out-of-pocket premiums. This financial strain underscores the urgent need for individuals to proactively navigate their healthcare options. Click here to learn more

In a recent survey by  Bankrate , Delaware has been identified as the premier state for retirement, ranking first in the company's annual survey, which assesses key elements influencing retirees' decisions. This year, Delaware rose from second place, surpassing Iowa, which now finds itself at ninth due to increased living expenses, property taxes, and homeowner insurance costs.

The Bankrate evaluation involved a comprehensive analysis of several data points across all states, excluding the District of Columbia. The rankings were based on five major categories: affordability (40% of the total score), overall well-being (25%), healthcare costs and quality (20%), weather (10%), and crime rate (5%). Thermo Fisher Scientific employees will find these factors essential when considering where to enjoy their retirement.

Often overlooked as a retirement destination, Delaware boasts numerous benefits that have solidified its status among retirees. It offers superior healthcare services, a favorable tax environment with no state or municipal tax, and an exemption from Social Security benefit taxes, enhancing its affordability. Despite higher-than-average living expenses, these financial perks make Delaware an attractive option for those seeking a stable post-career life.

The demographic profile of the country is notable for its high proportion of residents aged 62 and older, which enriches its collective diversity. However, Delaware does have areas of concern, including crime rates and the cost of living, which have not been as favorable. For Thermo Fisher Scientific retirees, understanding these dynamics is crucial to making an informed decision.

Alongside Delaware were West Virginia, Georgia, South Carolina, and Missouri, all renowned for their great affordability. In particular, West Virginia's low living and real estate expenses, coupled with affordable home insurance, secured its second-place position, even though it achieved better health quality. Georgia advanced from fifth to third place last year due to lower living expenses and home insurance rates, despite continuing issues with healthcare and crime. South Carolina, ranked fourth since the nineteenth century, is valued for its affordability and climate, despite crime-related challenges.

In contrast, the states deemed least favorable for retirement included Alaska, New York, Washington, California, and North Dakota. Alaska remained the least favored due to its poor accessibility and adverse weather conditions. High living costs are a common challenge across the Northeast and West, affecting retirees' financial stability and their ability to maintain their savings. Thermo Fisher Scientific employees should consider these factors when planning their retirement locations.

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Bankrate's study underscores the importance of feasibility in retirement planning, especially as many Americans feel financially unprepared for their retirement years. Relocating to a state that offers financial benefits can be a strategic decision for those nearing retirement age, thus allowing them to maximize their savings and enhance their quality of life during their golden years. This approach is particularly significant for individuals who are behind on their retirement savings, as moving to a more affordable location can significantly extend the duration and comfort of their retirement funds.

An often overlooked aspect of retirement planning is the availability of senior-friendly recreational activities, which can significantly enhance quality of life. For example, South Carolina, ranked fourth among the best states for retirement, offers a wide range of senior-friendly recreational activities, including over 360 golf courses and numerous national parks. This infrastructure not only provides entertainment but also opportunities for physical activity and socialization, which are essential for maintaining health and well-being in later life. Thermo Fisher Scientific retirees might find such states especially appealing for their active and engaging post-retirement lifestyle.

What is the 401(k) plan offered by Thermo Fisher Scientific?

The 401(k) plan at Thermo Fisher Scientific is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or after-tax basis.

How does Thermo Fisher Scientific match employee contributions to the 401(k) plan?

Thermo Fisher Scientific offers a company match on employee contributions, which helps to enhance the overall retirement savings of employees.

What is the eligibility requirement to participate in Thermo Fisher Scientific's 401(k) plan?

Employees of Thermo Fisher Scientific are typically eligible to participate in the 401(k) plan after completing a certain period of service, usually within the first year of employment.

Can employees at Thermo Fisher Scientific contribute to their 401(k) plan through payroll deductions?

Yes, employees at Thermo Fisher Scientific can contribute to their 401(k) plan through convenient payroll deductions, making it easy to save for retirement.

What investment options are available in Thermo Fisher Scientific's 401(k) plan?

Thermo Fisher Scientific's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.

Is there a vesting schedule for the company match in Thermo Fisher Scientific's 401(k) plan?

Yes, Thermo Fisher Scientific has a vesting schedule for the company match, meaning employees must work for a certain number of years before they fully own the matching contributions.

How can employees at Thermo Fisher Scientific access their 401(k) account information?

Employees can access their 401(k) account information through the online portal provided by Thermo Fisher Scientific's plan administrator.

What is the maximum contribution limit for the 401(k) plan at Thermo Fisher Scientific?

The maximum contribution limit for Thermo Fisher Scientific's 401(k) plan is subject to IRS guidelines, which can change annually.

Does Thermo Fisher Scientific offer a Roth 401(k) option?

Yes, Thermo Fisher Scientific offers a Roth 401(k) option, allowing employees to make after-tax contributions that can grow tax-free.

How often can employees at Thermo Fisher Scientific change their 401(k) contribution amounts?

Employees at Thermo Fisher Scientific can change their 401(k) contribution amounts at designated times throughout the year, typically during open enrollment or through specific plan provisions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
RSUs and stock options are provided as part of Thermo Fisher Scientific's compensation packages.
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For more information you can reach the plan administrator for Thermo Fisher Scientific at , ; or by calling them at .

*Please see disclaimer for more information

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