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What Amkor Technology Employees Should Know About Caring for Aging Parents

Healthcare Provider Update: Healthcare Provider for Amkor Technology Amkor Technology employees typically have access to healthcare benefits through various health insurance providers, which may include large national insurers. While specific details about the current healthcare provider may vary, major insurers like UnitedHealthcare, Anthem, Cigna, and Aetna are often involved in providing options for corporate coverage. Potential Healthcare Cost Increases for Amkor Technology in 2026 Looking ahead to 2026, Amkor Technology employees may confront significant increases in healthcare costs, largely due to soaring premiums in the Affordable Care Act (ACA) marketplace. Reports indicate that some states may experience premium hikes exceeding 60%, driven by the expiration of enhanced federal subsidies and rising medical costs. With many employees relying on ACA plans, it is crucial for them to evaluate their coverage options early, as rising deductibles and out-of-pocket expenses could lead to a financial strain for families. Awareness and proactive planning will be essential for navigating these looming healthcare challenges effectively. Click here to learn more

'Many Amkor Technology employees underestimate how caregiving responsibilities may influence their long-term planning. To prepare thoughtfully and involve the right professionals, it's important to start these conversations early.' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.

'Many Amkor Technology employees face unexpected pressure when aging parent responsibilities arise. I believe early planning and open family communication can help households navigate these challenges with greater clarity.' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

Key warning signs that aging parents may need additional support.
Essential legal and health care preparations to help families stay organized.
How to coordinate family involvement and emotional readiness during caregiving.

Many Amkor Technology employees in their mid-50s to early 60s come to discover that their retirement planning may have to expand to include the needs of their aging parents. As America’s population grows older, adult children frequently take on caregiving responsibilities for parents facing health issues, financial weaknesses, and cognitive decline. These realities influence family dynamics, investments, estate planning, taxes, and emotional well-being.

“Your parents' financial vulnerabilities become your financial stress unless you plan ahead and take a proactive role,” explains Brent Wolf, CFP®, an advisor at Wealth Enhancement.

Below are key considerations for individuals ages 55 to 65 who are preparing to support elderly parents.

1. Recognize the Early Signs of Cognitive Decline

For many families, cognitive decline in an aging parent typically appears gradually. Early warning signs may include:

- Repeatedly forgetting conversations
- Missing or duplicating bill payments
- Confusion about routine transactions
- Financial decisions influenced by new “friends”
- Unusual wire transfers or unexpected spending changes

Your role is not to diagnose—your role is to observe and speak up early. By addressing concerns promptly, you, your family, and your advisory team can potentially help mitigate the risk of future financial or cognitive harm.

2. Put Durable Power of Attorney and a Trusted Contact in Place

If a parent becomes cognitively impaired without a durable power of attorney, families often face a costly, lengthy conservatorship process. Amkor Technology employees can address this by planning ahead.

Consider getting the following key documents in place:

- A trusted contact authorization
- Durable Power of Attorney for finances
- HIPAA releases and health care power of attorney
- Updated beneficiary designations, wills, and trusts

These steps can help reduce uncertainty and lessen the risk of financial exploitation should a parent become more vulnerable.

3. Prepare for Health Care Shock: Medicare Has Gaps

Many households are surprised by how much Medicare does not cover. Common out-of-pocket costs include:

- Long-term custodial care (memory care, assisted living, in-home support)
- Prescription drugs
- Private caregivers and care managers
- Out-of-pocket deductibles and co-pays

To plan effectively, Amkor Technology employees should understand:

- What your parents’ insurance covers
- Their likely care expenses
- Whether self-funding or long-term care strategies may fit
- Whether Medicaid planning (with its five-year look-back) should begin early

Health care decisions become more urgent if cognitive decline is a concern.

4. Guard Your Parents Against Financial Abuse

Financial abuse is a growing threat for older adults—including parents of Amkor Technology employees. Common scams include:

- Romance schemes
- Fake IRS, FedEx, or government calls
- “Grandchild in trouble” scams
- Caregiver misconduct
- Pressure from acquaintances or distant relatives
- Fraudulent investment pitches

Adult children often hesitate to intervene, but silence can increase risk. Advisors can help monitor accounts, identify unusual activity, and place temporary holds when needed.

5. Organize the “Invisible” Parts of Their Financial Life

By age 80, even financially experienced parents may struggle to keep up with routine obligations such as:

- Required minimum distributions
- Quarterly tax payments
- Charitable documentation
- Insurance renewals
- Online passwords
- Property tax deadlines
- Portfolio withdrawal planning

Advisors can help reduce errors by automating tasks, consolidating accounts, and simplifying processes.

6. Bring the Entire Family Into the Conversation Early

The most challenging situations often arise when adult children learn of issues only after a crisis. Amkor Technology employees may benefit from:

- Annual family meetings
- Clear conversations about parents’ wishes
- Defined caregiving and financial roles
- Discussions around independence and dignity

Proactive communication may helps mitigate conflict and avoid last-minute decisions during emergencies.

7. Prepare Yourself Emotionally and Financially

Caring for aging parents can influence:

- Retirement timing
- Your ability to continue working
- Your cash flow
- Your mental and emotional resilience

Advisors can help you develop:

- A dedicated “parent care fund”
- Tax-efficient withdrawal strategies
- Cash flow outlines that factor in elder care
- Estate plans that reflect multigenerational needs

With thoughtful planning, supporting your parents does not have to disrupt your retirement goals—even for Amkor Technology employees navigating complex benefits.

8. Build a Team-Based Approach

Families caring for elderly parents often benefit from a coordinated team that may include:

- A financial advisor
- An attorney with experience working with seniors
- Tax specialist
- Geriatric care manager
- Estate planning attorney
- Health care advocates

Working together, these professionals can help manage risk for both parents and adult children through a unified strategy.

Conclusion

Aging is inevitable—but it does not have to create chaos. Early planning, while parents are still capable, can lessen emotional strain, help minimize family conflict, and ideally reduce the likelihood of financial harm.

“The best gift you can give your aging parents is structure, clarity, and a financial advocate who supports them when they can no longer support themselves,” says Brent Wolf.

For Amkor Technology employees ages 55 to 65, now is the time to act.

Taking the Next Step

The Retirement Group can help you design a Parent Care Plan that includes financial oversight, health care review, legal preparation, and fraud monitoring.

To speak with a team member who can guide you through each stage of the process, call (800) 900-5867 .

We are here to support you, your parents, and your family through every stage of life.

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Articles you may find interesting:

Sources:

1. Alzheimer’s Association. “10 Early Signs and Symptoms of Alzheimer’s and Dementia.” Alzheimer’s Association , 2025, www.alz.org/alzheimers-dementia/10_signs .

2. Centers for Medicare & Medicaid Services. “Long-Term Care.” Medicare.gov , n.d., www.medicare.gov/coverage/long-term-care .

3. Federal Bureau of Investigation. “Elder Fraud.” FBI , U.S. Department of Justice, n.d., www.fbi.gov/how-we-can-help-you/scams-and-safety/common-frauds-and-scams/elder-fraud .

What is the 401(k) plan offered by Amkor Technology?

The 401(k) plan at Amkor Technology is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.

How does Amkor Technology match employee contributions to the 401(k) plan?

Amkor Technology offers a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions, up to a certain limit.

When can I enroll in Amkor Technology's 401(k) plan?

Employees at Amkor Technology can enroll in the 401(k) plan during the initial onboarding process or during the annual open enrollment period.

Are there any fees associated with Amkor Technology's 401(k) plan?

Yes, Amkor Technology's 401(k) plan may have administrative fees, investment fees, or other costs, which are disclosed in the plan documents.

What investment options are available in Amkor Technology's 401(k) plan?

Amkor Technology offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and company stock.

Can I take a loan against my 401(k) with Amkor Technology?

Yes, Amkor Technology allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan.

What happens to my 401(k) plan if I leave Amkor Technology?

If you leave Amkor Technology, you can choose to roll over your 401(k) balance to another retirement account, cash it out, or leave it in the Amkor Technology plan if eligible.

How can I access my 401(k) account information at Amkor Technology?

Employees can access their 401(k) account information through the plan's online portal provided by Amkor Technology’s plan administrator.

Is there a vesting schedule for Amkor Technology's 401(k) matching contributions?

Yes, Amkor Technology has a vesting schedule for matching contributions, which means you must work for the company for a certain period before you fully own those contributions.

Can I change my contribution amount to the 401(k) plan at Amkor Technology?

Yes, employees can change their contribution amounts to the 401(k) plan at any time, subject to the plan's guidelines.

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

Amkor Technology announced a reduction in its global workforce by 10% as part of a restructuring effort to improve operational efficiency. The company also introduced changes to its employee benefits package, including adjustments to health insurance plans and retirement contributions.

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For more information you can reach the plan administrator for Amkor Technology at 2045 East Innovation Circle Tempe, AZ 85284; or by calling them at (480) 821-5000.