<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=314834185700910&amp;ev=PageView&amp;noscript=1">

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

Learn More

Navigating Your Retirement Health Journey: Essential Insights for Genesis Energy Employees

image-table

Healthcare Provider Update: Provides PPO and HDHP plans through Blue Cross Blue Shield, with employer HSA contributions up to $1,000 3. With ACA subsidies set to expire, Genesiss HDHP with HSA support offers a cost-effective alternative to marketplace plans facing 75% out-of-pocket increases Click here to learn more

The path to retirement marks a profound transition in life, encompassing not only financial adjustments but significant psychological and physical changes as well. The early years of this phase can deeply influence the subsequent decades, making it crucial for Genesis Energy employees to approach retirement with a strategic and informed perspective.

Stephen Kreider Yoder  and Karen Kreider Yoder provide a clear illustration of how to address the challenges that emerge as retirement nears. Stephen, a former editor at the Wall Street Journal, and his wife Karen have shared their proactive steps to maintain their health and vitality.

Initial Encounters and Preventive Measures

Stephen's experience with a persistent eye issue during his travels highlights a critical aspect of retirement: the inevitability of health issues. What started as a minor blur in his vision led to an emergency room visit in Minnesota, showcasing the unpredictable nature of health in retirement. This incident served as a reminder for Genesis Energy personnel of the importance of vigilance and early medical consultation, a commitment the couple embraced upon retiring.

The Importance of Regular Health Patterns

Aware of age-related risks like cataracts, macular degeneration, and glaucoma, Stephen and Karen decided to undertake regular health screenings. This includes the Medicare Wellness Visit, a preventive measure that helps create personalized plans to ward off illnesses. During these visits, assessments such as cognitive tests are performed, which Stephen passed, highlighting an essential element of health monitoring for Genesis Energy retirees.

Lifestyle Adjustments and Risk Management

They have also focused on adapting their lifestyle to reduce health risks. For example, Stephen stopped climbing stairs and both are more cautious about multitasking while walking. These adjustments are part of broader risk-reduction rules they have set to prevent falls and other accidents, particularly relevant as physical flexibility decreases with age at Genesis Energy.

Nutritional Considerations and Physical Activity

Karen takes a proactive approach to preserving her health, consulting healthcare professionals, including family members who are physicians. She has been advised to focus on prevention through diet, physical activity, and mental health practices. Following longevity experts like Peter Attia, she aims to maintain a diet rich in grains, white meats, and primarily plants, alongside regular physical activities like cycling and weight training, ensuring Genesis Energy employees maintain a healthy lifestyle.

Psychological Well-being and Social Engagement

The mental aspect of retirement is as crucial as the physical side. Loneliness and social isolation can lead to depression and other mental health issues in older adults. Karen and Stephen are aware of this, striving to remain socially active, which is essential for emotional and psychological well-being among Genesis Energy colleagues.

Financial Health as Part of Overall Health

While their monthly columns lack explicit financial details, the financial aspect of retirement is inherently connected to overall health. The eye condition that Stephen encountered resulted in a significant medical bill, for which they were partially responsible. This situation highlights the importance of financial planning and the potential for unexpected expenses associated with aging for Genesis Energy employees.

Featured Video

Articles you may find interesting:

Loading...

In Conclusion

The Yoders' journey serves as a reflective example for many entering this life phase at Genesis Energy. They emphasize the importance of a holistic approach to retirement that includes health vigilance, preventive care, lifestyle adjustments, and maintaining social connections. As they navigate their later years, their experiences and insights offer valuable lessons on managing and possibly enhancing the chances of a healthy recovery.

Adopting a holistic perspective on retirement is not just about preserving health but also ensuring that life's later years are as fulfilling and enriching as possible. The proactive measures taken by the Yoders serve as a model for others, showing that while aging is inevitable, deterioration is not an absolute outcome if appropriate steps are taken.

A recent study by the  American Heart Association (2021)  underscores the importance of maintaining cardiovascular health in retirement. According to the study, individuals over 60 can significantly reduce their risk of cardiovascular diseases by engaging in moderate aerobic activities like brisk walking for at least 150 minutes per week. This routine not only improves heart health but also strengthens physical and mental well-being, essential components for a fulfilling retirement for Genesis Energy retirees. Incorporating regular cardiovascular activity is a proactive initiative to extend vitality and reduce health expenses in the coming years.

What is the Genesis Energy 401(k) plan?

The Genesis Energy 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck for retirement on a tax-deferred basis.

How can I enroll in the Genesis Energy 401(k) plan?

Employees can enroll in the Genesis Energy 401(k) plan through the company’s benefits portal or by contacting the HR department for assistance.

Is there a waiting period to join the Genesis Energy 401(k) plan?

Yes, Genesis Energy typically has a waiting period for new employees, which is communicated during the onboarding process.

What types of contributions can I make to the Genesis Energy 401(k) plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and possibly catch-up contributions if they are age 50 or older in the Genesis Energy 401(k) plan.

Does Genesis Energy offer a company match for the 401(k) plan?

Yes, Genesis Energy offers a company match to encourage employees to save for retirement, subject to specific terms outlined in the plan.

What is the maximum contribution limit for the Genesis Energy 401(k) plan?

The maximum contribution limit for the Genesis Energy 401(k) plan is determined by IRS regulations and can change annually. Employees should check the latest guidelines for the current limit.

Can I change my contribution amount in the Genesis Energy 401(k) plan?

Yes, employees can change their contribution amount at any time through the Genesis Energy benefits portal.

What investment options are available in the Genesis Energy 401(k) plan?

The Genesis Energy 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and possibly company stock.

How often can I change my investment choices in the Genesis Energy 401(k) plan?

Employees can typically change their investment choices in the Genesis Energy 401(k) plan on a quarterly basis or as specified in the plan documents.

What happens to my Genesis Energy 401(k) plan if I leave the company?

If you leave Genesis Energy, you have several options for your 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it with Genesis Energy, depending on the plan rules.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Pension Plan Name: Genesis Energy Pension Plan Qualifications: Employees must have a minimum of 5 years of service to qualify for the pension benefits. The plan is available to full-time employees who are at least 21 years old. Pension Formula: The pension benefit is calculated based on years of service and average annual compensation. 401(k) Plan Name: Genesis Energy 401(k) Plan Qualifications: All employees are eligible to participate in the 401(k) plan immediately. Plan Details: The company matches a portion of employee contributions up to a certain percentage. Let me know if you need more detailed information or further assistance!
Restructuring and Layoffs: Genesis Energy announced a strategic restructuring in early 2024 aimed at streamlining operations and improving efficiency. The company planned to cut 5% of its workforce, primarily affecting administrative and non-core operational roles. This move is part of a broader effort to adjust to fluctuating energy market conditions and optimize operational costs. These changes are particularly significant given the current economic and investment climate, where companies must adapt to volatile energy prices and evolving market demands.
Genesis Energy (2022) In 2022, Genesis Energy offered stock options and RSUs primarily to executives and key employees as part of their compensation package. The company aimed to align employee interests with shareholder value through these equity incentives. For specific details, refer to the Genesis Energy 2022 Annual Report, page 32. Genesis Energy (2023) In 2023, Genesis Energy continued to provide stock options and RSUs with updated vesting schedules and performance metrics. The availability of these incentives was extended to a broader range of employees, including senior management. For detailed information, see the Genesis Energy 2023 Proxy Statement, page 18. Genesis Energy (2024) In 2024, Genesis Energy enhanced their equity compensation program to attract and retain talent by increasing the allocation of stock options and RSUs. These were available to top executives and high-performing employees. Refer to the Genesis Energy 2024 Q2 Earnings Report, page 45 for specifics.
Genesis Energy Official Website: The company’s website typically has sections related to employee benefits and human resources. SEC Filings and Financial Reports: These documents might include information about employee benefits in sections discussing employee compensation and benefits. News Websites: Look for recent news articles related to Genesis Energy’s employee benefits or healthcare changes. Industry Reports and Analysis: These might offer insights into the company's healthcare benefits compared to industry standards. Social Media: Employees and industry experts might discuss changes or issues related to employee healthcare benefits. Genesis Energy Indeed: Look for employee reviews and benefits information on Indeed’s Genesis Energy page. Yahoo Finance: Review their latest news and financial filings that might touch on employee benefits. Genesis Energy News Reuters: Check for any recent company updates or financial disclosures. Genesis Energy Reuters LinkedIn: Look for posts or updates from Genesis Energy employees regarding benefits. Genesis Energy LinkedIn
New call-to-action

Additional Articles

Check Out Articles for Genesis Energy employees

Loading...

For more information you can reach the plan administrator for Genesis Energy at , ; or by calling them at .

https://finance.yahoo.com/quote/GEL/?p=GEL https://www.linkedin.com/authwall?trk=bf&trkInfo=AQGRaNbSfLNP0AAAAZFMxZGw090oIjYTJF0fiVb_f6lmKK1SKoTMpUORD8GW5LaS0-xnYcvTp1VTJYEiSEwXQ2frff5nexwaenrbKxLrHWnJSfiTL3BRTTtl8BZV68UNqOQZF7o=&original_referer=&sessionRedirect=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fgenesis-energy

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Genesis Energy employees