The successful passage of tax reform is enabling Aflac Inc. to boost its U.S. investments by about $250 million over three to five years, the carrier announced last week.
Starting in 2018, the Columbus, Georgia-based U.S. unit of the Japanese company will enhance workforce benefits, make strategic investments in U.S. operations and increase philanthropic giving.
Aflac will increase the company's 401(k) match, from 50 percent to 100 percent on the first 4 percent of employee contribution, while making a one-time contribution of $500 to every employee's 401(k) plan. The carrier will also offer certain hospital and accident insurance products to all employees free of charge, as Aflac currently does with its core cancer insurance product.
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Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
