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

Freeport-McMoRan Retirees Face ACA Premium Shock—Here’s How Others Are Responding

Healthcare Provider Update: Healthcare Provider for Freeport-McMoRan Freeport-McMoRan typically offers a variety of healthcare benefits to its employees, including coverage through major national insurers. Specific details about the primary insurance provider can vary by location and specific employee plans; however, large employers often collaborate with well-known insurers such as UnitedHealthcare, Aetna, or Anthem BlueCross BlueShield to manage their healthcare plans. Potential Healthcare Cost Increases in 2026 for Freeport-McMoRan As the healthcare landscape evolves, Freeport-McMoRan employees may face significant increases in out-of-pocket costs in 2026 due to multiple compounding factors. The looming expiration of enhanced Affordable Care Act (ACA) premium subsidies is set to expose millions to steep premium hikes, with some states anticipating increases of over 60%. Additionally, rising medical costs driven by inflation, especially in drug prices and services, could further stress employee budgets. Many employers, including Freeport-McMoRan, may also consider shifting more healthcare costs onto workers, resulting in higher deductibles and out-of-pocket maximums, thus highlighting the importance for employees to stay informed about their benefit options. Click here to learn more

'Freeport-McMoRan employees approaching retirement should recognize that proactive income and health care planning can make the difference between preserving subsidy eligibility and facing sharply higher ACA premiums.' – Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.

'Freeport-McMoRan employees planning their retirement should consider how income levels influence ACA subsidies, as even small adjustments in taxable withdrawals can affect future health care affordability.' – Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How the expiration of enhanced ACA subsidies after 2025 could impact health care costs for retirees and early retirees.
Real-life case studies illustrating how different individuals are adjusting to rising ACA premiums.
Practical steps Freeport-McMoRan professionals can take before enrolling in 2026 Marketplace plans.

by Brent Wolf, CFP®, Wealth Enhancement

As open enrollment for 2026 Marketplace plans begins, many households are seeing dramatic shifts in their renewal letters. Rising base premiums and the possible end of enhanced subsidies after 2025 could mean significantly higher out-of-pocket costs for anyone purchasing coverage through the Affordable Care Act (ACA) exchange.

The Kaiser Family Foundation (KFF) estimates that if Congress does not extend enhanced premium tax credits, average net premium payments could more than double in 2026. ¹

“It feels like a second mortgage to pay this premium.”

Profile: A couple in their early 60s who retired a few years before becoming Medicare-eligible.

What changed: Their ACA premium had been manageable due to increased subsidies. Their renewal now indicates a rise of about $1,000 to $1,200 monthly if enhanced credits expire.

Decision pressure: They faced hard choices—drawing more taxable income from IRAs, going without coverage, or returning to the workforce for employer-based insurance.

Our response: We reworked their income plan to align with the ACA’s income-based subsidy structure. By controlling their Modified Adjusted Gross Income (MAGI) through smaller IRA withdrawals, use of cash reserves, and partial Roth conversions, we kept them eligible for key subsidies. Comparing a Bronze high-deductible plan with a health savings account (HSA) to a Silver plan revealed the Silver plan—thanks to cost-sharing reductions—was more economical given their expected medical treatments.

“I can’t risk losing coverage while battling an illness.”

Profile: A single client in her early 60s undergoing ongoing medical treatment.

What changed: Without enhanced subsidies, her premiums nearly tripled.

Decision pressure: Balancing affordability with the need to keep her care team and prescriptions consistent.

Our response: We prioritized staying with her provider network and controlling her out-of-pocket costs. A dedicated “medical reserve” fund—equal to one year’s maximum out-of-pocket limit—gave her a cushion without liquidating investments during market declines. We also worked with her physicians to identify lower-cost prescriptions through her plan’s formulary.

“The new premiums are hurting our business margins.”

Profile: A self-employed couple—one partner managing asthma and the other a cardiac rhythm condition.

What changed: Without subsidies, their net premiums are expected to rise sharply.

Decision pressure: Continue paying high premiums, choose a plan with a very high deductible, or seek W-2 employment for benefits.

Our response: We compared total annual costs for a Silver plan versus a Bronze option, factoring in frequent specialist visits and prescriptions. Once total medical costs were considered, the Silver plan proved more cost-effective. We also aligned their life and disability coverage and tailored their tax approach to reflect potential changes in premium tax credits.

“I’m young and healthy—do I even need full coverage?”

Profile: An independent contractor in their 20s with minimal expected medical use.

What changed: Premiums for mid- and high-tier plans nearly quadrupled.

Decision pressure: Choosing between a high-deductible Bronze HSA plan and catastrophic coverage.

Our response: We modeled three options—a Bronze HSA-eligible plan, a mid-tier plan, and catastrophic coverage. The Bronze HSA option offered the best mix of lower premiums and long-term tax benefits. Monthly automated HSA contributions build a future medical fund that can later be used for qualified health care expenses or Medicare premiums (excluding Medigap) after age 65.

Five Steps to Take Before You Enroll

1. Evaluate your total annual cost, not just the premium. Factor in deductibles, copays, and the possibility of reaching your out-of-pocket maximum.

2. Manage your MAGI carefully. ACA subsidies depend on income. Coordinate Roth conversions, capital gains, and IRA withdrawals strategically.

3. Verify your doctor and prescription coverage. Always confirm your plan’s provider network and formulary before enrolling.

4. Maintain a medical reserve fund. Hold six to 12 months of premiums plus a portion of your maximum out-of-pocket in cash or short-term Treasuries.

5. Finalize your plan by December 15. Open Enrollment for 2026 coverage ends on December 15, with plans effective January 1.

If Affordability Is a Concern

Choosing to go without insurance can expose you to serious financial strain in case of illness or accident. Consider the most affordable Bronze plan that still meets ACA minimum coverage requirements. If your income decreases during the year, you may become eligible for Medicaid or CHIP and qualify for a Special Enrollment Period. ²

How The Retirement Group Supports Freeport-McMoRan Professionals

For Freeport-McMoRan employees approaching or already in retirement, the intersection of rising health care costs and income planning can be complex. The Retirement Group focuses on helping clients navigate ACA subsidy rules, tax-efficient withdrawal strategies, and health care cost planning during retirement transitions.

To speak with an advisor about aligning your retirement income and health care planning, call (800) 900-5867 today.

Featured Video

Articles you may find interesting:

Sources:

1. Cox, Cynthia, et al. “ACA Marketplace Premium Payments Would More Than Double on Average Next Year if Enhanced Premium Tax Credits Expire.” Kaiser Family Foundation (KFF) , 2025, pp. n.p., https://www.kff.org/affordable-care-act/aca-marketplace-premium-payments-would-more-than-double-on-average-next-year-if-enhanced-premium-tax-credits-expire/ .
2. Centers for Medicare & Medicaid Services. ' Understanding Special Enrollment Periods. ' June 2025.
Other resources:
1. “When Can You Get Health Insurance? | Dates & Deadlines.” HealthCare.gov , U.S. Centers for Medicare & Medicaid Services, n.d., https://www.healthcare.gov/quick-guide/dates-and-deadlines/ .
2. Publication 969: Health Savings Accounts and Other Tax-Favoured Health Plans. Internal Revenue Service, 2024, pp. 8–9, https://www.irs.gov/pub/irs-pdf/p969.pdf .
3. “Silver vs. Bronze Plan Selection: Cost-Comparison Scenarios.” Centers for Medicare & Medicaid Services (CMS) , 23 Dec. 2024, pp. 1–3, https://www.cms.gov/files/document/silver-vs-bronze-cost-comparison-scenario-resource.pdf .
4. Murphy, Tom. “Expect Health Insurance Prices to Rise Next Year, Brokers Say.” AP News , Associated Press, 24 Aug. 2025, https://apnews.com/article/health-insurance-drug-costs-2026-rates-c4d865ec09c7088ecc6b55dc520f3566 .

What is the Freeport-McMoRan 401(k) Savings Plan?

The Freeport-McMoRan 401(k) Savings Plan is a retirement savings plan that allows employees to save for retirement on a tax-deferred basis.

How can I enroll in the Freeport-McMoRan 401(k) Savings Plan?

Employees can enroll in the Freeport-McMoRan 401(k) Savings Plan by completing the enrollment process online through the company's benefits portal.

What is the employer match for the Freeport-McMoRan 401(k) Savings Plan?

Freeport-McMoRan offers a matching contribution to the 401(k) Savings Plan, which may vary based on employee contributions and company policy.

Can I change my contribution rate to the Freeport-McMoRan 401(k) Savings Plan?

Yes, employees can change their contribution rate to the Freeport-McMoRan 401(k) Savings Plan at any time through the benefits portal.

What types of investments are available in the Freeport-McMoRan 401(k) Savings Plan?

The Freeport-McMoRan 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

When can I access my funds in the Freeport-McMoRan 401(k) Savings Plan?

Employees can access their funds in the Freeport-McMoRan 401(k) Savings Plan upon reaching retirement age, or in cases of hardship as defined by the plan.

Is there a vesting schedule for the Freeport-McMoRan 401(k) Savings Plan?

Yes, Freeport-McMoRan has a vesting schedule for employer contributions to the 401(k) Savings Plan, which determines when employees fully own those contributions.

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

If you leave Freeport-McMoRan, you can roll over your 401(k) Savings Plan balance to another retirement account or withdraw the funds, subject to tax implications.

How often can I change my investment allocations in the Freeport-McMoRan 401(k) Savings Plan?

Employees can change their investment allocations in the Freeport-McMoRan 401(k) Savings Plan as often as they wish, typically through the benefits portal.

Does Freeport-McMoRan provide financial education for employees regarding the 401(k) Savings Plan?

Yes, Freeport-McMoRan offers financial education resources and tools to help employees make informed decisions about 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.

Freeport-McMoRan offers its employees a comprehensive benefits package that includes both a pension plan and a 401(k) plan. The company operates a Company Paid Retirement Benefit Plan and a 401(k) plan called the Employee Capital Accumulation Program. Employees who meet the necessary years of service and age requirements are eligible for these benefits (Benefits Account Manager) (Jobs at Freeport McMoRan Inc..). For the pension plan, Freeport-McMoRan requires that employees have at least two years of continuous service to become fully vested. The specific pension formula used in their defined benefit plan is based on final average pay. Employees must typically meet an age qualification of 65 to retire with full benefits

Restructuring and Layoffs: Freeport-McMoRan announced a series of restructuring measures in early 2023 as part of a broader strategy to streamline operations and reduce costs. This included a workforce reduction of approximately 5% across its global operations. The decision was influenced by fluctuating copper prices and the need to improve operational efficiency. Importance: This news is crucial due to the current economic environment, which affects commodity prices and operational costs. Understanding these changes is essential for employees and investors, especially considering the broader economic and political factors that influence market stability.

Freeport-McMoRan offers stock options and RSUs to eligible employees, including executives and key management. For 2022, the company granted RSUs under their Long-Term Incentive Plan (LTIP) and stock options under their Stock Incentive Plan (SIP). In 2023 and 2024, the company continued these practices, with updates available in their annual proxy statements.

Official Freeport-McMoRan Website: Check the company’s HR or benefits page for detailed information on health benefits. Industry and Financial News Websites: Look at recent news from reputable sources like Bloomberg, Reuters, or Financial Times for any updates on employee healthcare benefits. Employee Review and Information Websites: Explore sites like Glassdoor or Indeed for employee reviews and feedback on health benefits. Health Insurance Providers: Search for information from health insurance companies that might partner with Freeport-McMoRan for employee benefits. Company Reports and Publications: Look for annual reports or employee benefits guides available through financial or business publications. Steps and Websites for Detailed Search: