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

How Lincoln National Retirees Are Using AI to Simplify Everyday Life

Healthcare Provider Update: Healthcare Provider for Lincoln National: Lincoln National Corporation does not directly provide healthcare services. Instead, it operates as a financial services company that offers various insurance and investment solutions. For healthcare coverage, Lincoln National collaborates with health insurance providers like Aetna for its employee benefits and health-related products. Potential Healthcare Cost Increases in 2026: Healthcare costs are projected to rise significantly in 2026, driven by factors such as inflation in medical care and large anticipated increases from major insurers. Premiums for Affordable Care Act (ACA) marketplace plans could soar by over 20% on average, with some states facing hikes that exceed 60%. The potential expiration of enhanced premium subsidies will further exacerbate the situation, leading to a staggering increase of over 75% in out-of-pocket costs for many enrollees. As a result, consumers will need to navigate these challenges carefully, focusing on proactive strategies to manage their healthcare expenses effectively. Click here to learn more

'Artificial intelligence is helping many Lincoln National employees simplify their transition into retirement by organizing finances and daily routines, but the key is to use these tools as support—not substitution—for thoughtful planning and professional guidance.' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.

'Lincoln National employees are finding that AI can streamline everything from budgeting to wellness, but lasting success in retirement comes from combining technology’s efficiency with informed financial decision-making.' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How artificial intelligence (AI) is helping Lincoln National retirees simplify daily life and handle complex tasks.
The ways AI can enhance health, home, and financial organization in retirement.
Why retirees are increasingly confident using AI to boost efficiency and reclaim valuable time.

Many Lincoln National retirees are discovering that slowing down isn’t always easy, despite looking for respite from decades of early mornings, complex undertakings, and global operations. Handling investments, planning vacations, and staying organized can still feel demanding during retirement.

That’s where artificial intelligence (AI) has stepped in. What once seemed futuristic is now a practical tool for Lincoln National’s retired professionals who want to streamline routines and reclaim valuable time.

According to Wealth Enhancement financial planner Kevin Won, CFP®, AWMA®, CRPC®, “we’re seeing older adults experimenting with AI tools for efficiency. They understand that these tools can help them reclaim time, which is one of life’s most precious resources.”

Simplifying Complex Tasks

While still in the workforce, AI is helping Lincoln National employees transform their daily workflow. Tasks that once took hours—such as reviewing financial reports or tracking industry or market data—now take minutes with the help of AI assistants that can summarize data, highlight key performance trends, and draft personal reports.

Others are using AI to enhance their personal lives. For instance, with an AI-powered trip planner, it's possible to enter your preferred travel destinations, dates, and hobbies, and have the chatbot design an itinerary for you complete with dining, sightseeing, and activity suggestions.

The same is true after retirement. “The retirees I work with value how AI brings order and clarity,” Won adds. “Whether it’s comparing health care options or managing monthly expenses, these tools can handle the heavy lifting so retirees can focus on other areas of their lives.”

Improving Health and Home Management

Many former Lincoln National professionals are also turning to AI for personal wellness and home organization. Some use chatbots for home maintenance guidance, while others leverage AI to build custom workout plans that adapt to travel schedules or physical limitations. These tools help retirees maintain consistency without needing advanced tech skills or expensive memberships.

According to Won, “AI can give older adults autonomy. They don’t need to wait for instruction or assistance. Technology enables them to take the lead in their daily lives, including finances and health care choices.”

A Modern Assistant for Financial Confidence

Retirees can also use AI to help arrange their financial information before meetings with advisors. From summarizing financial articles to preparing questions, AI helps retirees save time while staying informed. Some even use it as a digital filing assistant, categorizing tax documents, receipts, and travel logs for the upcoming year.

Won cautions, however, that “AI should be viewed as guidance, not a promise. It’s a powerful assistant, but it can still make errors—especially on topics like health or finance—so always double-check important information.”

From Skepticism to Confidence

While some retirees were initially hesitant to adopt AI, many have now incorporated it into their routines. Surveys show that, while older generations are slower to adopt new technologies, comfort and usage are steadily rising.¹

Won explains, “Retirees who’ve spent decades adapting to innovation in corporate environments, like Lincoln National, already have the resilience and mindset needed to learn new tools. Now, AI works for them—reducing complexity, not adding to it.”

A Smart Way to Simplify Retirement

For many retirees, using AI is about boosting productivity, not just curiosity. Automating travel planning, organizing budgets, and reducing decision fatigue can make retirement more manageable and less stressful.

According to Won, “you’re really adding peace of mind when you integrate smart tools into daily life. The goal isn’t to master the technology. It’s to let it operate behind the scenes so you can focus on what matters most.”

If you’re a Lincoln National retiree looking to organize your finances, streamline health care costs, or enjoy your retirement with fewer hassles, The Retirement Group can help. Call (800) 900-5867 to speak with a knowledgeable representative today.

For more information, visit WealthEnhancement.com or call Wealth Enhancement Group at (800) 492-1222 to speak with a Certified Financial Planner.

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Articles you may find interesting:

Sources:

1. Kakulla, Brittne, Laura Skufca, Patty David, Jessica Boothe, and Kristen Garrett. ' Empowering Independence With Technology Among Adults Age 50-Plus .' Washington, DC: AARP Research, Jan. 2025.
2. “Young Adults Are Leading the Way in AI Adoption.” AP-NORC Center for Public Affairs Research, 29 July 2025.
3. Chui, Michael, et al. The Economic Potential of Generative AI: The Next Productivity Frontier. McKinsey Global Institute, June 2023.
4. Chatbots in Consumer Finance. Consumer Financial Protection Bureau, June 2023.
5. “Older Adults Express Mixed Views on Artificial Intelligence.” NORC at the University of Chicago, Oct. 2023.

What is the primary purpose of Lincoln National's 401(k) Savings Plan?

The primary purpose of Lincoln National's 401(k) Savings Plan is to help employees save for retirement by providing tax-advantaged investment options.

How can employees at Lincoln National enroll in the 401(k) Savings Plan?

Employees at Lincoln National can enroll in the 401(k) Savings Plan through the company’s online benefits portal or by contacting the HR department for assistance.

Does Lincoln National match employee contributions to the 401(k) Savings Plan?

Yes, Lincoln National offers a matching contribution to the 401(k) Savings Plan, which helps employees maximize their retirement savings.

What types of investments are available in Lincoln National's 401(k) Savings Plan?

Lincoln National's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

What is the minimum contribution percentage for Lincoln National's 401(k) Savings Plan?

The minimum contribution percentage for Lincoln National's 401(k) Savings Plan is typically set at 1% of an employee's salary, but employees are encouraged to contribute more if possible.

Can employees at Lincoln National take loans against their 401(k) Savings Plan balance?

Yes, Lincoln National allows employees to take loans against their 401(k) Savings Plan balance under certain conditions.

What happens to my 401(k) Savings Plan if I leave Lincoln National?

If you leave Lincoln National, you can choose to roll over your 401(k) Savings Plan balance into an IRA or another qualified retirement plan, or you may withdraw the funds, subject to taxes and penalties.

How often can employees change their contribution amounts to Lincoln National's 401(k) Savings Plan?

Employees at Lincoln National can change their contribution amounts to the 401(k) Savings Plan at any time, subject to certain administrative deadlines.

Are there any fees associated with Lincoln National's 401(k) Savings Plan?

Yes, Lincoln National's 401(k) Savings Plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

What educational resources does Lincoln National provide to help employees understand the 401(k) Savings Plan?

Lincoln National offers educational resources such as workshops, online tools, and one-on-one consultations to help employees understand and manage their 401(k) Savings Plan.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Lincoln National offers a comprehensive retirement package, including a pension plan and the LNC Employees' 401(k) Savings Plan. The pension plan, also known as a defined benefit plan, provides employees with a guaranteed retirement income based on their years of service and salary. The exact formula for the pension plan includes a specific percentage of the final average salary multiplied by the number of years of service. The minimum service requirement is typically five years, and the pension benefits become fully vested at this point. Employees must meet certain age qualifications, generally beginning at age 55 with early retirement options. The 401(k) Savings Plan, also referred to as a defined contribution plan, allows employees to contribute a portion of their pre-tax salary. Lincoln National matches these contributions up to a certain percentage. In 2022, 2023, and 2024, Lincoln enhanced its 401(k) offerings by providing more investment options and improved online tools to help employees manage their retirement savings. Employees become eligible for the 401(k) plan after completing one year of service and reaching age 21. The LNC Employees' 401(k) Savings Plan is notable for its flexibility, allowing participants to make both pre-tax and Roth contributions (lincolnfinancial) (Business Wire).

Lincoln National Corporation has experienced significant restructuring efforts in 2023 and 2024, including layoffs and changes to its workforce. In early 2024, the company announced a 5% reduction in its workforce, impacting employees across various segments. These layoffs are part of a broader strategic realignment aimed at addressing the company's financial difficulties, which have been compounded by external pressures such as inflation, regulatory changes, and market volatility. Additionally, Lincoln National saw a substantial financial loss in the fourth quarter of 2023, reporting a net loss of $1.2 billion. This loss led to further emphasis on cost-cutting measures, including benefit restructuring, workforce reductions, and pension adjustments (S&P Global) (AM Best).

For Lincoln National, both employee stock options and Restricted Stock Units (RSUs) are made available as part of their equity compensation plans to incentivize and retain key employees. Lincoln National offers RSUs to employees, with vesting schedules that typically follow a multi-year plan, often with a cliff period followed by gradual vesting. This aligns with common industry practices, where RSUs are granted without an upfront purchase requirement, and they are taxed as ordinary income when they vest (Zajac Group) (Facet). RSUs at Lincoln National are distributed based on performance and employment status, with eligibility generally extending to full-time employees, directors, and some high-level contractors (MarketBeat). In addition to RSUs, Lincoln National also offers Non-Qualified Stock Options (NQSOs). These stock options provide employees the right to purchase company shares at a fixed strike price, with taxation occurring when the options are exercised and based on the difference between the exercise price and the fair market value (Facet) (Brooklyn Fi). Stock options are generally awarded to senior employees, allowing them to benefit from any increase in Lincoln National’s stock price over time.

Lincoln National offers a robust set of healthcare benefits for its employees, which has seen significant updates over the past few years. In 2023, Lincoln National continued to provide comprehensive health coverage, including medical, dental, and vision insurance, through various plan options. The company places particular emphasis on preventive care, with terms such as “Health Savings Account (HSA),” “Preferred Provider Organization (PPO),” and “Flexible Spending Account (FSA)” frequently used in their communications (lincolnfinancial). Additionally, Lincoln National promotes its Employee Assistance Program (EAP), which offers confidential support for both personal and professional challenges. With healthcare costs rising by approximately 5.4% in 2024, Lincoln National, like many employers, has been working to contain expenses while still offering high-quality healthcare options (Mercer | Welcome to brighter) (Mercer | Welcome to brighter). The importance of Lincoln National’s healthcare benefits cannot be overstated, especially given the current economic and political environment. Rising inflation and healthcare costs have pressured employers to reevaluate their healthcare strategies. Lincoln National’s focus on maintaining affordable care options, despite these challenges, highlights its commitment to employee well-being. This approach is crucial for retaining talent and managing healthcare costs effectively in a turbulent economic landscape, where investments in employee health contribute to long-term organizational success. The company's proactive stance in managing healthcare benefit expenses is a strategic response to both economic pressures and evolving healthcare legislation (lincolnfinancial) (Mercer | Welcome to brighter).

Additional Articles

Check Out Articles for Lincoln National employees

For more information you can reach the plan administrator for Lincoln National at , ; or by calling them at .

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