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5 Tips for Long-Term Health Planning Every Citigroup Employee Should Consider

Healthcare Provider Update: Healthcare Provider for Citigroup: Citigroup's primary healthcare provider is UnitedHealthcare, which offers a range of health insurance products for Citigroup employees, including employer-sponsored plans that provide comprehensive coverage. Potential Healthcare Cost Increases in 2026: As we look ahead to 2026, healthcare costs associated with the Affordable Care Act (ACA) are projected to rise dramatically. With insurers requesting average premium increases of 18% and some states seeing hikes surpassing 60%, millions of consumers could face unprecedented out-of-pocket costs. Key factors driving these increases include the potential expiration of enhanced federal premium subsidies, which could lead to a staggering 75% increase in out-of-pocket premiums for approximately 92% of marketplace enrollees. The combination of escalating medical costs and the withdrawal of financial assistance presents a significant financial challenge for many families across the nation. Click here to learn more

'Citigroup employees preparing for the later stages of life benefit from addressing long-term planning early by taking steady, proactive steps that align their personal goals with the realities of aging.' - Paul Bergeron, The Retirement Group, a division of Wealth Enhancement.

'Citigroup employees can strengthen their long-term planning by taking thoughtful, early steps that support clarity and confidence as they age to stay proactive and intentional in shaping their future.' - Tyson Mavar, The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How to prepare for the challenges of aging through proactive planning.
How to organize your living situation, documents, and family communication.
How to use tools like HSAs and long-term care insurance to support future needs.

Important lessons learned

- Although planning is never too late, starting early can help you get ready for the difficulties that come with growing older, especially for employees navigating the benefit programs offered through Citigroup.

- Clearly state your expectations and ambitions, including where you want to live and how you want to maintain your preferred lifestyle.

- Organize vital paperwork and make sure your family is aware of your financial situation and wishes.

- To assist with future medical costs, consider long-term care insurance options and health savings accounts (HSAs).

Government estimates reveal that someone turning 65 today has roughly a 70% chance of needing some type of long-term care services or supports in later life. ¹ This highlights why planning matters for those preparing for retirement from Citigroup. With odds like that, having a plan in place can help you or your loved ones get ready for medical, financial, or personal challenges that may arise.

Thinking about these things isn't always simple, and many put off planning until facing a crisis with an elderly parent, spouse, or themselves. Our understanding of our needs is often shaped by personal experiences, whether involving an abrupt loss, a long illness, or many years of independence. While some people use skilled nursing facilities, senior communities, or at-home care, others rely on help from family or neighbors. These experiences highlight the importance of not making rushed decisions or leaving critical choices to others.

Planning may be done at any age, but the longer you delay, the harder it may be—something many Citigroup professionals recognize as they approach retirement. With the right information and guidance, you can create a long-term health plan that reflects your objectives, accounts for potential obstacles, and helps you prepare for future costs as you age.

1. Clarify your objectives and expectations

Your future vision should be the first step in any long-term plan, including for those charting retirement paths after a long tenure with Citigroup. Consider what you want for yourself and what you believe would be an ideal outcome. Knowing your objectives helps provide direction while shaping your plan.

Being realistic about what you might anticipate in the coming years is also important. Even if your experience may differ from past generations, your family’s medical history can offer insight. Conversations with your health care providers can help you understand what to monitor and how to support your health over time. Reflecting on how much assistance you may need—and from whom—allows you to make choices aligned with the quality of life you want.

2. Evaluate your living conditions

Think about whether your current home will still meet your needs as you age, a common consideration among employees preparing for retirement from Citigroup. Home accessibility plays an important role since falls remain the leading cause of injury-related deaths among people 65 and older. ²

Modifying your home—such as installing ramps, handrails, or improved accessibility—can be easier when done proactively rather than in an emergency. If modifications are too costly or impractical, downsizing to a home more suitable for aging needs may be worthwhile. Moving earlier also gives you more time to adjust.

Proximity to support is another key factor. Living near dependable family members, trusted neighbors, or health care providers can make a meaningful difference when more assistance becomes necessary.

3. Arrange your paperwork

Clear documentation allows your wishes to be carried out and gives your family what they need in an emergency, which is especially important for those coordinating retirement assets earned during years at Citigroup. Essential estate planning documents include:

- A will , which outlines how assets not governed by beneficiary designations or titling should be distributed and who will manage your affairs after your passing.
- A financial power of attorney , permitting someone to handle your financial matters if you become unable to do so.
- A medical power of attorney (health care proxy) , allowing someone to receive information and make medical decisions if you cannot.
- A living will , documenting your wishes regarding care and end-of-life decisions.

Preparing these documents in advance makes it easier for your family to navigate difficult times.

4. Speak with your relatives

Open communication improves planning, particularly for families where one or more members are transitioning from a career at Citigroup. While discussing finances and end-of-life decisions can feel uncomfortable, it is vital for your loved ones to know where documents are stored and understand the general structure of your financial affairs. You do not need to disclose every detail—just note how many accounts you hold, where they are located, how they are titled, and who should be contacted in an emergency, such as executors or trustees.

5. Consider health savings accounts and long-term care “hybrid” insurance policies

Those enrolled in a qualifying high-deductible health plan—including some used by employees at Citigroup—may be eligible to contribute to a Health Savings Account (HSA). These accounts allow contributions that are pre-tax or tax-deductible, offer tax-free growth, and allow tax-free withdrawals for qualified medical expenses. Although contribution limits apply, HSAs can support both current and future medical needs.

Another option is hybrid long-term care insurance, which links long-term care benefits to life insurance. If you develop a qualifying cognitive condition or cannot perform at least two activities of daily living (such as bathing or dressing), these policies may allow access to part of the death benefit for care. Even if long-term care benefits are never used, the life insurance component typically provides value to beneficiaries.

The Retirement Group can help

Long-term care planning can be technically and emotionally challenging, particularly for those coordinating benefits tied to years of service with Citigroup. The Retirement Group can help you review your options, understand potential financial implications, and shape a plan tailored to your needs. You can call (800) 900-5867 to learn more or speak with our team.

Engage in professional work

Working with a knowledgeable specialist allows you to address both the financial and personal dimensions of long-term planning. With thoughtful preparation, you can build a plan that reflects your goals and provides clarity for you and your loved ones as you age.

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Sources:

1. Administration for Community Living. “ How Much Care Will You Need? ” U.S. Department of Health & Human Services, 18 Feb. 2020.

2. Centers for Disease Control and Prevention. “ About Older Adult Fall Prevention ,” May 16, 2024.

3. Internal Revenue Service. Publication 969: Health Savings Accounts and Other Tax-Favored Health Plans. Internal Revenue Service, 2024.

4. National Association of Insurance Commissioners. A Shopper’s Guide to Long-Term Care Insurance. NAIC, 2019.

5. National Institute on Aging. “Advance Care Planning: Advance Directives for Health Care.” National Institutes of Health, 31 Oct. 2022.

What are the main eligibility criteria for participating in the Citigroup Pension Plan, and how can Citigroup employees ensure they meet these requirements throughout their employment? Furthermore, what implications does the merger of prior pension plans into the Citigroup Pension Plan have on the benefits for employees from acquired companies, and what steps should they take to understand how their previous service is credited under Citigroup?

Eligibility Criteria for Citigroup Pension Plan Participation: Employees hired before January 1, 2007, are eligible to participate in the Citigroup Pension Plan if they were employees of a Participating Employer. Employees hired after that date are generally not eligible to participate. Additionally, employees from acquired companies may have their prior service credited under Citigroup. It's important for these employees to review the plan's specific provisions or contact the Citi Pension Center to ensure accurate service credit(Citigroup_Pension_Plan_…).

How does the Citigroup Pension Plan address survivor benefits for employees who pass away before their pension benefits commence, and what steps must their beneficiaries take to claim these benefits? Additionally, how can employees ensure that their loved ones are adequately informed about the options available should they face this unfortunate event?

Survivor Benefits for Pre-Retirement Death: If an employee passes away before benefits commence, the surviving spouse may receive a lifetime annuity based on the account balance or opt for a lump sum. Employees should ensure that their beneficiaries are aware of these options and the process to claim benefits(Citigroup_Pension_Plan_…).

For Citigroup employees wanting to learn more about the pension plan's benefits and options available to them, what contact methods should they use? How does Citigroup facilitate communication regarding the pension plan, and what are the most efficient ways for employees to get their questions answered?

Contacting Citigroup for Pension Plan Inquiries: Employees can contact the Citi Pension Center by phone at 1-800-881-3938 for U.S. inquiries or use the online portal to access their pension details. These methods provide the most efficient way to get answers to any pension-related questions(Citigroup_Pension_Plan_…).

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

Citigroup offers both a traditional defined benefit pension plan and a defined contribution 401(k) plan. The defined benefit plan provides retirement income based on years of service and final average pay. The 401(k) plan includes company matching contributions and various investment options such as target-date funds and mutual funds. Citigroup also provides financial planning resources and tools to help employees manage their retirement savings.

Citigroup is planning to cut 20,000 jobs as part of a major restructuring effort to streamline operations and save $2.5 billion. The bank is also focusing on international growth and simplifying its management structure from 13 layers to eight. Despite the layoffs, Citigroup continues to offer comprehensive retirement benefits, including 401(k) plans and health benefits. Understanding these benefits is important in today's political environment.

Citigroup grants RSUs that vest over several years, giving employees shares upon vesting. They also provide stock options, allowing employees to purchase shares at a set price.