Healthcare Provider Update: Healthcare Provider for Select Medical Holdings: Select Medical Holdings operates primarily through its network of specialized rehabilitation hospitals and outpatient rehabilitation clinics. Their healthcare services focus on providing rehabilitation services for critical illness, physical therapy, and long-term acute care hospitals, making them a significant player in the healthcare sector. Potential Healthcare Cost Increases in 2026: As we approach 2026, significant increases in healthcare costs are anticipated, primarily driven by expected record hikes in Affordable Care Act (ACA) premiums. With states facing premium increases exceeding 60%, many individuals may experience out-of-pocket premium hikes of up to 75%, drastically affecting affordability. Contributing factors include the potential expiration of federal premium subsidies and rising medical costs from hospitals and providers. This perfect storm of financial pressures underlines the urgent need for consumers to prepare for the impending increase in healthcare expenses. 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 Select Medical Holdings 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 Select Medical Holdings 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 Select Medical Holdings 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 Select Medical Holdings.
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 Select Medical Holdings 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 Select Medical Holdings 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 Select Medical Holdings employees.
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In Conclusion
The Yoders' journey serves as a reflective example for many entering this life phase at Select Medical Holdings. 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 Select Medical Holdings retirees. Incorporating regular cardiovascular activity is a proactive initiative to extend vitality and reduce health expenses in the coming years.
What is the 401(k) plan offered by Select Medical Holdings?
The 401(k) plan offered by Select Medical Holdings is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
Does Select Medical Holdings match employee contributions to the 401(k) plan?
Yes, Select Medical Holdings provides a matching contribution to employee 401(k) accounts, subject to certain limits and conditions.
What is the eligibility requirement to participate in Select Medical Holdings' 401(k) plan?
Employees of Select Medical Holdings are typically eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documents.
How can employees of Select Medical Holdings enroll in the 401(k) plan?
Employees can enroll in the Select Medical Holdings 401(k) plan by completing the enrollment process through the designated online portal or by contacting the HR department for assistance.
What types of investment options are available in the Select Medical Holdings 401(k) plan?
The Select Medical Holdings 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles, allowing employees to choose based on their risk tolerance.
Can employees of Select Medical Holdings take loans against their 401(k) savings?
Yes, Select Medical Holdings allows employees to take loans against their 401(k) savings, subject to the terms and conditions of the plan.
What happens to the 401(k) plan if an employee leaves Select Medical Holdings?
If an employee leaves Select Medical Holdings, they have several options for their 401(k) savings, including rolling over the balance into an IRA or a new employer's plan.
Are there any fees associated with the Select Medical Holdings 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Select Medical Holdings 401(k) plan, which are disclosed in the plan documents.
How often can employees change their contribution rates to the Select Medical Holdings 401(k) plan?
Employees can typically change their contribution rates to the Select Medical Holdings 401(k) plan at any time, subject to the plan's guidelines.
Does Select Medical Holdings provide financial education regarding the 401(k) plan?
Yes, Select Medical Holdings offers resources and financial education to help employees make informed decisions about their 401(k) savings and investments.