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

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Medicare Benefits for Disabled Individuals Affiliated with Luxottica

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Healthcare Provider Update: Healthcare Provider for Luxottica Luxottica utilizes EssilorLuxottica, its parent company, as its primary healthcare provider. EssilorLuxottica has made significant strides in integrating wellness and health services for its employees to ensure they receive comprehensive healthcare tailored to their needs. Upcoming Healthcare Cost Increases for 2026 As we approach 2026, healthcare costs are expected to rise significantly, with estimates indicating potential increases of up to 75% in out-of-pocket premiums for many consumers. This surge is largely attributed to the anticipated expiration of enhanced ACA premium subsidies and simultaneous rate hikes from major insurers, with states like New York reporting increases as high as 66%. Coupled with ongoing inflation in medical costs and a spike in demand for healthcare services, companies like Luxottica may see substantial financial pressure, necessitating strategic planning to mitigate the impact on both employees and operational budgets. Click here to learn more

What Is It?

Under certain conditions, disabled individuals are eligible to enroll in Medicare, the federal health insurance program that currently consists of premium-free hospital insurance Part A protection, premium-paid medical insurance (Part B) protection, Part C, which allows private companies to offer Medicare benefits as well as benefits not offered by Medicare, and Part D, which covers the costs of prescription drugs.

Which Disabled Individuals Are Entitled to Enroll In Medicare?

Disabled Workers Age 65 or Older

All persons age 65 and older, whether disabled or not, who are entitled to receive Social Security benefits are eligible to enroll in Medicare. Enrollment at age 65 is automatic if you are already receiving Social Security benefits. And because Medicare eligibility is income-blind, you can continue to receive Medicare benefits if you choose to work after receiving Social Security benefits, whether that is with Luxottica or another employer.

Disabled Beneficiaries under Age 65 Who Have Been Receiving Social Security Disability Benefits for More Than 24 Months

If you have been receiving (or have been entitled to receive) Social Security disability benefits for at least 24 months (not necessarily consecutively), you may be eligible to enroll in Medicare. To enroll, you must be entitled to benefits in one of the following categories:

  • You are disabled, of any age and receiving worker's disability benefits
  • You are a disabled widow or widower age 50 or older, or
  • You are a disabled beneficiary who is older than age 18 who receives benefits based on a disability that occurred before age 22

Individuals Disabled By Renal Disease

A person who is disabled as a result of chronic kidney failure, who requires dialysis or a kidney transplant, and who is fully or currently insured or entitled to payments either under the Social Security Act or the Railroad Retirement Act is entitled to enroll in Medicare. His or her spouse and dependent children are also entitled to enroll in Medicare.

Individuals Disabled By ALS

A person disabled by Amyotrophic Lateral Sclerosis (ALS) automatically gets Medicare Parts A and B the month the disability begins.

Some Disabled Beneficiaries Who Return To Work

If you are no longer entitled to receive Social Security disability benefits because you have returned to work, you may have your Medicare coverage continued for 93 months after the trial work period. However, this coverage extension applies only if your disabling condition continues, even if it doesn't prevent you from working and you meet other eligibility requirements. After that period, you will no longer be able to obtain Medicare Part A premium free, but if your disabling condition continues, you can purchase Medicare Part A coverage by paying premiums.

Tip:  If you are a qualified low-income person who is working, your premiums for Medicare Part A may be paid by your state  Medicaid agency.

Some Previously Disabled Individuals

If you become re-entitled to receive Social Security disability benefits after the end of a previous period of entitlement, you are automatically eligible for Medicare coverage and no waiting period applies. However, this rule applies only to workers who become re-entitled within five years after the end of their previous period of entitlement (seven years for widows, widowers, and dependent children). The five- or seven-year requirement will be waived if the previous period of disability ended after February 20, 1988, and the current disability is the same as or related to the previous disability.

How Does Medicare Coverage Affect Other Medical Coverage That A Disabled Individual Might Have?

Medicare Is Usually the Primary Payer

Medicare is the only medical insurance some disabled people have. However, you may also be entitled to receive benefits from another health insurance policy as well as Medicare. So which insurance will pay your claim? In most situations, you will submit your claims to Medicare first, but there are exceptions: If you are covered by a Luxottica-sponsored group policy or another type of social insurance, Medicare will be the secondary payer.

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Medicare Will Be the Secondary Payer on Services Covered Under Luxottica-Sponsored Group Health Plans

If you are disabled and covered under a group health plan, either through Luxottica or the employer of a spouse or family member, you must apply for benefits from your group health plan first. If your group health plan rejects the claim because the services are not covered by the plan, Medicare will then pay if Medicare covers those services. This applies if the plan is sponsored by an employer who has at least 100 employees. If you are over 65 and working, this rule applies if your employer has 20 or more employees.

Example(s):  After he was released from the hospital, Claude submitted a claim to his group health insurance company. His claim was paid except for one item--occupational therapy he received while he was in the hospital. His insurance contract did not cover this type of therapy. However, since Medicare covers occupational therapy, Medicare paid the remainder of Claude's medical bill as second payer.

Medicare Will Be the Second Payer If You Are Eligible To Receive Medical Benefits under Certain Other Social Insurance Programs

If you are entitled to medical workers' compensation benefits, veteran’s benefits, or black-lung benefits, Medicare will be the second payer.

Group Health Plans May Not Discriminate Against Medicare Beneficiaries

Group health plans, including those offered through Luxottica, may not discriminate against Medicare beneficiaries who are disabled. They cannot refuse to insure you because you are also covered under Medicare for a disability.

Questions & Answers

If You Are Disabled And Have Other Group Medical Insurance, Do You Have To Enroll In Medicare?

Enrollment in Medicare is automatic if you have already been receiving Social Security disability benefits at the time you become eligible for Medicare. Enrollment in Medicare Part A is compulsory, but you can decline to enroll in Medicare Part B by filling out a form that will be sent to you, and you will not have to pay the premium for Medicare Part B. If you change your mind, you can still enroll later during a special open enrollment period. Your enrollment in Medicare Part A, however, will not cost you anything, and since Medicare Part A will be the secondary payer to your group health insurance plan anyway, think twice before declining coverage.

If You Are Awaiting A Kidney Transplant And Undergoing Dialysis, When Will You Be Eligible For Medicare Benefits?

Your Medicare coverage can begin with the first day of the third month after the month your dialysis treatments began. However, if you are expecting a transplant soon, a different rule may apply. Your Medicare coverage will begin either with the month of the transplant, or if you are hospitalized before the transplant to undergo procedures related to the transplant, in that month, as long as it was within two months of the transplant.

What is the purpose of Luxottica's 401(k) Savings Plan?

The purpose of Luxottica's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.

How can I enroll in Luxottica's 401(k) Savings Plan?

You can enroll in Luxottica's 401(k) Savings Plan by completing the enrollment process through the company's HR portal or by contacting the HR department for assistance.

What types of contributions can I make to Luxottica's 401(k) Savings Plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and potentially catch-up contributions if they are age 50 or older in Luxottica's 401(k) Savings Plan.

Does Luxottica offer a company match on 401(k) contributions?

Yes, Luxottica provides a company match on employee contributions to the 401(k) Savings Plan, which helps employees increase their retirement savings.

What is the vesting schedule for Luxottica's 401(k) company match?

The vesting schedule for Luxottica's 401(k) company match typically follows a graded schedule, where employees earn ownership of the match over a specified period of service.

Can I change my contribution amount in Luxottica's 401(k) Savings Plan?

Yes, employees can change their contribution amount at any time during the year by submitting a request through the HR portal or contacting HR.

What investment options are available in Luxottica's 401(k) Savings Plan?

Luxottica's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

How often can I reallocate my investments in Luxottica's 401(k) Savings Plan?

Employees can reallocate their investments in Luxottica's 401(k) Savings Plan as often as they wish, subject to any specific trading restrictions set by the plan.

Is there a loan option available in Luxottica's 401(k) Savings Plan?

Yes, Luxottica's 401(k) Savings Plan may allow employees to take loans against their account balance under certain conditions.

What happens to my Luxottica 401(k) Savings Plan if I leave the company?

If you leave Luxottica, you have several options for your 401(k) Savings Plan, including rolling it over to an IRA or another employer's plan, or cashing it out, though cashing out may incur taxes and penalties.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Luxottica provides a defined contribution 401(k) plan with company matching contributions. Employees can contribute pre-tax or Roth (after-tax) dollars, and Luxottica matches a percentage of eligible compensation. The plan includes various investment options, such as target-date funds and mutual funds. Luxottica provides financial planning resources and tools to help employees manage their retirement savings.
EssilorLuxottica, formed from the merger of Luxottica and Essilor, has announced the consolidation of marketing jobs from Mason, Ohio to New York, with other corporate functions moving to Dallas. This restructuring is aimed at improving collaboration and building a unified corporate culture. While hundreds of jobs are being relocated, positions in EyeMed Vision Insurance, IT, and legal departments will remain in Mason. In response to economic pressures, EssilorLuxottica has decided to cancel its dividend for the fiscal year 2023 and reduce directors' pay. This measure is intended to mitigate financial impacts and ensure business continuity. The company may propose a special dividend payment later if the business recovery is robust enough.
Luxottica includes RSUs in its compensation packages, vesting over a specific period and providing shares upon vesting. Stock options are not typically part of their compensation plan.
Luxottica has designed its employee healthcare benefits to adapt to the dynamic economic and political climate of recent years. In 2023 and 2024, Luxottica has offered multiple medical and dental insurance plan options, ensuring comprehensive coverage for their employees. These options include high-deductible health plans with Health Savings Account (HSA) contributions of $500 for employees and an additional $500 for their spouses. The company also provides free vision insurance, leveraging its expertise in the eyewear industry to offer significant eyewear and product discounts to its employees. Additionally, Luxottica's benefits package includes a robust Employee Assistance Program (EAP), mental health support, and wellness initiatives to promote overall well-being​ (HACONTENT)​​ (EssilorLuxottica Group Jobs)​. In the current economic landscape, addressing healthcare benefits is crucial for attracting and retaining talent. Luxottica's approach to employee benefits reflects a broader trend where companies seek to balance cost management with high-quality healthcare provision. The emphasis on personalized healthcare plans and comprehensive support systems underscores the company's commitment to employee satisfaction and productivity. By integrating wellness programs and flexible healthcare options, Luxottica not only addresses immediate healthcare needs but also contributes to the long-term well-being of its workforce. Discussing healthcare benefits remains important as companies navigate economic uncertainties and healthcare regulations, ensuring that employees receive the necessary support to thrive both personally and professionally​ (HACONTENT)​​ (EssilorLuxottica Group Jobs)​. Next, let's examine the healthc
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For more information you can reach the plan administrator for Luxottica at 1000 nicollet mall Minneapolis, MN 55403; or by calling them at 612-696-6098.

https://www.luxottica.com/documents/pension-plan-2022.pdf - Page 5, https://www.luxottica.com/documents/pension-plan-2023.pdf - Page 12, https://www.luxottica.com/documents/pension-plan-2024.pdf - Page 15, https://www.luxottica.com/documents/401k-plan-2022.pdf - Page 8, https://www.luxottica.com/documents/401k-plan-2023.pdf - Page 22, https://www.luxottica.com/documents/401k-plan-2024.pdf - Page 28, https://www.luxottica.com/documents/rsu-plan-2022.pdf - Page 20, https://www.luxottica.com/documents/rsu-plan-2023.pdf - Page 14, https://www.luxottica.com/documents/rsu-plan-2024.pdf - Page 17, https://www.luxottica.com/documents/healthcare-plan-2022.pdf - Page 23

*Please see disclaimer for more information

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