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

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Discover the Ideal Retirement Destination: Top U.S. Cities for Clean Harbors Employees to Consider

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Healthcare Provider Update: Healthcare Provider for Clean Harbors Clean Harbors partners with various healthcare providers to ensure the well-being of its employees, primarily utilizing Aetna Health for their health insurance plans. This partnership aims to offer comprehensive healthcare benefits, including medical, dental, and vision coverage tailored to meet the needs of their workforce. Potential Healthcare Cost Increases in 2026 As 2026 approaches, Clean Harbors employees should brace for significant changes in healthcare costs. With healthcare premiums projected to rise sharply nationwide-some by over 60%-the burden may fall heavily on employees as employers adjust their benefit structures. Escalating medical costs and the potential expiration of enhanced federal premium subsidies will likely lead to an increase in out-of-pocket expenses, compelling employees to adopt proactive measures in managing their healthcare choices. Staying informed and prepared for these adjustments will be crucial for navigating the financial challenges ahead. Click here to learn more

Clean Harbors employees considering retirement might find it surprising that  San Bernardino is ranked as the least favorable city for retirees in the U.S., according to an extensive study by WalletHub . This research assessed over 180 cities based on multiple criteria related to life after work. Notably, California, despite its appealing facade, is home to half of the ten least desirable cities for retirees in the nation.

The personal finance company's analysis included 45 key indicators, focusing on living expenses, tax implications, healthcare quality, and the availability of recreational opportunities, essential for a fulfilling retirement. WalletHub analyst Chip Lupo notes that the best retirement cities help reduce taxes and living costs while providing access to excellent healthcare and a variety of activities that enrich one’s golden years.

In stark contrast to its scenic locales, San Bernardino scored the lowest for retiree-friendliness, placing 182nd overall. It earned a mere 35.71% of the possible points, highlighting significant deficiencies in recreational activities, healthcare quality, and overall life satisfaction. This rating reflects a broader issue across various Californian cities that fall short in providing secure retirement conditions compared to other U.S. cities.

Several other cities in California also appear at the bottom of the list, with Stockton and Rancho Cucamonga just above San Bernardino. While California ranks as the 17th best state for retirement, higher-ranking cities like San Francisco, San Diego, Glendale, and Los Angeles still do not crack the national top 30, demonstrating a mixed bag of results across the state.

Among the cities that excel in retirement suitability, Orlando, Florida, tops the list with a score of 61.49 out of 100, showing strong performance in affordability and leisure activities. Orlando offers substantial financial perks in services crucial for retirees, such as housekeeping and adult home healthcare, ranking high among the cities studied. Its appeal is enhanced by a rich array of music venues, fishing clubs, art galleries, and an abundance of gerontologists and home healthcare providers per capita.

According to WalletHub, the ten best cities for retirement also include Miami, Minneapolis, Tampa, Fort Lauderdale, Scottsdale, Cincinnati, St. Petersburg, Casper, and Atlanta. These destinations offer a mix of affordability, healthcare quality, diverse activities, and overall life quality that promotes a rewarding retirement.

WalletHub’s ranking methodology compared the 150 most populated cities in the U.S., along with at least two of the most populated cities from each state, spanning four key categories: affordability, activities, quality of life, and healthcare. This comprehensive approach, using a grid of 45 indicators rated out of 100, ensures a thorough understanding of how each city supports its elderly population, crucial in times when many retirees depend on fixed incomes and seek maximum value in their living conditions.

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The findings emphasize the importance for Clean Harbors employees to do detailed research and thoughtful consideration when choosing a retirement destination. The stark contrast between the least favorable San Bernardino and top-ranked Orlando highlights the disparities within the U.S., influenced by local policies, economic conditions, and resources tailored to senior needs.

While California hosts several less desirable cities for retirement due to high living costs and taxes, it also provides tax exemptions on Social Security and public pensions, offering some financial relief. The California Franchise Tax Board explains that retirees in California enjoy freedom from state taxes on Social Security benefits and public pension incomes, which can notably ease the financial burden for Clean Harbors retirees reliant on these fixed incomes.

For Clean Harbors employees exploring retirement options, this guide underscores the significant variances in living conditions across the U.S. and offers insights into choosing the right city based on personal needs and preferences. As you plan for a secure and enjoyable retirement, remember, much like selecting a fine wine, the reputation of a location may not always reflect the daily realities of life there. This guide is designed to help you navigate through the complexities of retirement planning with essential considerations like tax benefits, healthcare quality, and cost of living at the forefront, ensuring a well-informed decision for a peaceful and fulfilling retirement.

What is the 401(k) plan offered by Clean Harbors?

The 401(k) plan at Clean Harbors is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

How can I enroll in Clean Harbors' 401(k) plan?

Employees can enroll in Clean Harbors' 401(k) plan by completing the enrollment form provided during onboarding or by accessing the employee benefits portal.

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

Yes, Clean Harbors offers a matching contribution to the 401(k) plan, which helps employees grow their retirement savings.

What is the maximum contribution limit for Clean Harbors' 401(k) plan?

The maximum contribution limit for Clean Harbors' 401(k) plan follows the IRS guidelines, which may change annually. Employees should check the latest limits for accuracy.

Can I change my contribution percentage in Clean Harbors' 401(k) plan?

Yes, employees can change their contribution percentage at any time through the employee benefits portal or by contacting HR at Clean Harbors.

What investment options are available in Clean Harbors' 401(k) plan?

Clean Harbors' 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

When can I access my funds from Clean Harbors' 401(k) plan?

Employees can access their funds from Clean Harbors' 401(k) plan upon reaching retirement age, or in the case of hardship or termination of employment, subject to IRS regulations.

How does Clean Harbors provide information about the 401(k) plan?

Clean Harbors provides information about the 401(k) plan through employee handbooks, the benefits portal, and periodic informational sessions.

Is there a vesting schedule for Clean Harbors' 401(k) matching contributions?

Yes, Clean Harbors has a vesting schedule for matching contributions, meaning employees must work for a certain period before they fully own the matched funds.

Can I take a loan against my 401(k) with Clean Harbors?

Yes, Clean Harbors allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Clean Harbors announced a significant reduction in their workforce as part of a major restructuring initiative aimed at reducing operational costs. The company is also revising its employee benefit programs to streamline expenses. Additionally, changes are being made to their 401(k) matching contributions to align with the new financial strategies.
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For more information you can reach the plan administrator for Clean Harbors at 42 Longwater Dr Norwell, MA 2061; or by calling them at (781) 792-5000.

*Please see disclaimer for more information

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