Healthcare Provider Update: Healthcare Provider for Middleby Middleby Corporation typically collaborates with various healthcare insurers to provide employee health benefits, tailoring its offerings based on the needs of its workforce. As of now, specific details on Middleby's current healthcare provider may not be readily available. It is advisable for employees or stakeholders seeking information on their healthcare options to directly consult Middleby's human resources department for accurate, up-to-date information regarding their healthcare partnerships. Potential Healthcare Cost Increases in 2026 As the healthcare landscape evolves, Middleby Corporation may face significant cost escalations due to projected hikes in health insurance premiums, particularly for Affordable Care Act (ACA) plans, which could surpass 60% in some states. Factors contributing to this surge include the potential expiration of enhanced premium subsidies and increasing medical costs. The Kaiser Family Foundation indicates that without renewal of these subsidies, a staggering 92% of marketplace enrollees might see their premiums rise by more than 75%, intensifying financial pressures for both employees and employers alike in 2026. Click here to learn more
'With health care inflation outpacing general costs, Middleby employees should consider building personalized strategies that include HSAs and emergency reserves to help manage future medical expenses.' — Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.
'As medical expenses continue to rise, Middleby employees benefit from proactively incorporating health care costs into their retirement planning through customized approaches like HSAs and dedicated emergency funds.' — Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.
In this article we will discuss:
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How health care inflation impacts retirement planning for Fortune 500 employees.
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Strategies with Health Savings Accounts (HSAs) and emergency medical funds.
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The need for tailored planning to meet Medicare gaps and long-term care needs.
Managing retirement health care costs calls for thoughtful planning, especially as medical expenses continue to outpace general inflation. Yet, for Fortune 500 professionals approaching retirement, generic guidance often misses the mark. Patrick Ray and Tyson Mavar of The Retirement Group, a division of Wealth Enhancement, recommend a customized approach that factors in health care inflation, coverage choices, tax-efficient tools, and access to liquid funds for unexpected medical events.
Health Care Estimate for Retirees
According to the Fidelity Retiree Health Care Cost Estimate, a 65-year‑old retiring in 2025 may need approximately $172,500 saved to cover health and medical expenses during retirement—an increase of over 4% since 2024. 1 Notably, this estimate assumes enrollment in Medicare Parts A, B, and D and excludes the costs of long‑term care.
Of that estimate, 44% of the costs would go to Medicare Parts B and D premiums, 47% relate to standard out‑of‑pocket costs (such as co-payments and deductibles), and 9% would be needed to purchase prescription medications. 1
These trends are particularly concerning given that roughly 20% of Americans say they haven’t considered health care in retirement planning, while 17% haven’t taken any planning steps yet. 2
For its part, the Employee Benefit Research Institute (EBRI) notes that a 65‑year‑old couple with higher prescription drug expenses may need as much as $413,000 to have a 90% likelihood of covering their medical needs in retirement. 3
The Value of a Personalized Retirement Health Care Approach
In light of this data, Ray and Mavar recommend developing a retirement health care strategy tailored to each individual's situation, particularly for those at large employers like Fortune 500. Key components could include:
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- Estimating expected medical needs
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- Using Health Savings Accounts (HSAs)
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- Keeping readily available funds for emergencies
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- Aligning health care coverage with lifespan and income expectations
1. Estimating Your Health Care Budget
Although industry research offers a baseline for average health care costs, it does not consider the full range of medical expenses Middleby employees could face post-retirement. For instance, if you factor in costs related to long-term care, estimates could balloon by an additional $26,000 to $127,750 per year. 4
Beyond long-term care, additional cost categories could include:
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- Medicare premiums
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- Prescription medications and co‑pays
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- Services not covered by Medicare (e.g., dental, vision)
Ray and Mavar caution Fortune 500 professionals not to underestimate these figures when planning.
2. Gaps in Preparedness
With 17% of Americans having taken no action to plan for health care in retirement, Ray and Mavar emphasize treating health care planning as a central component—not an afterthought.
3. Making Full Use of HSAs
Ray and Mavar suggest consistently contributing to HSAs during working years. For instance, a 35‑year‑old contributing up to $4,300 annually and assuming a 7% return might accumulate over $500,000 by age 65, including approximately $140,000 in tax savings . Only about 30% of HSA holders currently invest those balances.
In their recent webinar, ' Leveraging HSAs to Reduce Health Care Costs ,' Mavar described benefits such as tax‑free growth and withdrawals for qualified medical expenses for those with high‑deductible health plans.
4. Building an Emergency Medical Reserve
Unexpected diagnoses or emergencies can quickly drain resources. Mavar recommends a separate cash reserve—such as in a money market or high‑yield savings account—outside primary retirement accounts. This may help retirees handle health care shocks without impacting long‑term investments.
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Broader Economic Landscape: Health Care Inflation and Trends
Health care spending is projected to continue rising. In a report published by federal actuaries, U.S. health care spending is expected to rise by 7.1% in 2025—well ahead of general inflation. 5 Reasons for this rise range from growing personal health care spending and hospital spending growth, to prescription drugs and physician services. As a result, health care expenses could account for 20% of U.S. GDP by 2033. 5
At the same time, many health care insurers report higher medical-loss ratios, indicating increased spending on care—including chronic disease management and mental health services—costs that could be passed down to retirees.
Key Recommendations for Retirement Health Care Preparation
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As Mavar and Ray note, the $172,500 estimate for those retiring in 2025 is simply a starting reference point. Early retirement or long-term care needs could push your total higher.
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If you are among the percentage of people who has not yet considered health care costs in your retirement planning, now is the time to start. By leveraging the triple tax advantages available through HSAs, putting aside sufficient reserves to address medical emergencies, and exploring individual strategies that take your personal coverage choices, retirement timing, and health conditions into account, you can build a safety net that considers your long-term health care spending needs.
Final Thoughts
Health care outcomes and personal circumstances vary widely—especially among long‑time Fortune 500 professionals. A tailored planning strategy—covering realistic spending projections, full use of HSAs, dedicated medical reserves, and thoughtful coverage choices—can help support a more predictable and manageable retirement journey.
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- Corporate Employees: 8 Factors When Choosing a Mutual Fund
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- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
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- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
Sources:
1. Fidelity Investments. “ Fidelity Investments Releases 2025 Retiree Health Care Cost Estimate: A Timely Reminder for All Generations .” 30 July 2025.
2. Barron's. “ The Healthcare Tab for Retirees Keeps Growing. How to Prepare ,” by Elizabeth O'Brien. 30 July 2025.
3. EBRI. ' New Research Report Finds Projected Savings Medicare Beneficiaries Need for Health Expenses Increased Again in 2023 .' 29 Jan. 2024.
4. Genworth. ' Genworth and CareScout Release Cost of Care Survey Results for 2024 .' 4 March 2025.
5. Fierce Healthcare. “ CMS study: Healthcare spending likely to grow by 7.1% in 2025 ,” by Paige Minemyer. 30 June 2025.
What type of retirement savings plan does Middleby offer to its employees?
Middleby offers a 401(k) retirement savings plan to its employees.
Is Middleby’s 401(k) plan available to all employees?
Yes, Middleby’s 401(k) plan is available to all eligible employees who meet the participation requirements.
Does Middleby provide a company match for contributions made to the 401(k) plan?
Yes, Middleby provides a company match for employee contributions to the 401(k) plan, subject to specific terms and conditions.
How can employees at Middleby enroll in the 401(k) plan?
Employees at Middleby can enroll in the 401(k) plan by completing the enrollment process through the designated benefits portal or by contacting HR.
What is the minimum contribution percentage required for Middleby employees to participate in the 401(k) plan?
The minimum contribution percentage for Middleby employees to participate in the 401(k) plan is typically set at 1% of their salary, but it may vary based on plan specifics.
Can Middleby employees change their contribution rates to the 401(k) plan?
Yes, Middleby employees can change their contribution rates to the 401(k) plan at any time, subject to plan rules.
What investment options are available in Middleby’s 401(k) plan?
Middleby’s 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Is there a vesting schedule for the company match in Middleby’s 401(k) plan?
Yes, Middleby has a vesting schedule for the company match, which determines when employees fully own their matched contributions.
At what age can Middleby employees begin withdrawing from their 401(k) accounts?
Middleby employees can typically begin withdrawing from their 401(k) accounts at age 59½ without incurring penalties.
Are loans available from the 401(k) plan offered by Middleby?
Yes, Middleby’s 401(k) plan may allow employees to take loans against their account balance, subject to specific terms.