Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Raytheon employees who are ready to sign up for Medicare. Medicare Advantage plans are offered by private insurers in conjunction with the Medicare program and can provide you with additional health insurance coverage.
What’s in them?
In addition to signing up for Medicare Part A (hospital stays) and Part B (medical coverage), Medicare Advantage plans offer their subscribers extra features. This frequently, but not always, includes the Medicare Part D prescription drug plan. In some cases, Medicare Advantage plans offer coverage for areas not normally offered within regular Medicare plans. This can include dental, hearing, and vision insurance.
What are the rules?
Medicare pays for a fixed amount of your health care to Raytheon offering your Medicare Advantage (MA) plan. Beyond that, each MA plan requires different out-of-pocket fees. Those fees can vary from plan to plan. Depending on your plan, you may have different rules you need to follow when seeking a medical referral to get treatment from a specialist or if you are seeking non-urgent care (even from health care providers within the plan). It’s also important to remember that rules, requirements, and features may change from year to year. It will be important to make sure that those changes line up with any treatment that you need.
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What about my prescriptions?
While most MA plans offer Part D coverage for prescription drugs, some don’t. One example would be Medicare Medical Savings Account plans. In cases where the plan can’t or chooses not to offer prescription drug coverage, you may have the ability to join a separate Medicare Prescription Drug Plan, depending on the type of plan you enroll in. You will likely have a number of questions and concerns as you examine your options for Medicare Advantage plans. Discuss these with a trusted financial professional who can help you make choices that may best fit your lifestyle.
1. Medicare.gov, 2022
What type of retirement savings plan does Raytheon offer to its employees?
Raytheon offers a 401(k) Savings Plan to help employees save for retirement.
Does Raytheon provide a company match for contributions made to the 401(k) plan?
Yes, Raytheon matches employee contributions to the 401(k) plan up to a certain percentage.
How can Raytheon employees enroll in the 401(k) Savings Plan?
Raytheon employees can enroll in the 401(k) Savings Plan through the company's benefits portal or by contacting the HR department.
What is the minimum contribution percentage required for Raytheon employees to participate in the 401(k) plan?
Raytheon typically requires a minimum contribution percentage of 1% to participate in the 401(k) Savings Plan.
Can Raytheon employees change their contribution amounts to the 401(k) plan at any time?
Yes, Raytheon employees can change their contribution amounts to the 401(k) plan during designated enrollment periods or as allowed by the plan rules.
What investment options are available to Raytheon employees within the 401(k) plan?
Raytheon offers a variety of investment options within the 401(k) plan, including mutual funds, target-date funds, and company stock.
Is there a vesting schedule for the company match in Raytheon’s 401(k) plan?
Yes, Raytheon has a vesting schedule for the company match, which means employees must work for a certain number of years to fully own the matched contributions.
Can Raytheon employees take loans from their 401(k) accounts?
Yes, Raytheon allows employees to take loans from their 401(k) accounts under certain conditions.
What happens to Raytheon employees' 401(k) accounts if they leave the company?
If Raytheon employees leave the company, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Raytheon plan if eligible.
Are there any fees associated with Raytheon’s 401(k) Savings Plan?
Yes, there may be administrative fees and investment-related fees associated with Raytheon’s 401(k) Savings Plan, which are disclosed in plan documents.
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