What GameStop Employees Should Know About Caring for Aging Parents
Healthcare Provider Update: Healthcare Provider for GameStop
GameStop utilizes a range of healthcare providers, largely dependent on the insurance options available through their employee benefits program. The leading provider for GameStop's health insurance plans is typically UnitedHealthcare, which offers coverage options under the Affordable Care Act (ACA) framework. This partnership allows GameStop employees and their families to access a variety of health services in their locale.
Potential Healthcare Cost Increases in 2026
As we approach 2026, healthcare costs are projected to rise significantly, influenced by a confluence of factors that may impact employees at companies like GameStop. Insurance premiums for Affordable Care Act marketplace plans are expected to soar, with some states seeing increases surpassing 60%. The looming expiration of enhanced federal premium subsidies could push out-of-pocket expenses for most enrollees up more than 75%, making the financial landscape for healthcare increasingly daunting. Coupled with rising medical costs attributed to both inflation in healthcare services and the proliferation of high-priced drugs, employees may face steeper healthcare bills if proactive measures are not taken to mitigate these costs before the changes take effect.
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'Many GameStop 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 GameStop 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 GameStop 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. GameStop 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, GameStop 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 GameStop 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. GameStop 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 GameStop 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 GameStop 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.
What is the primary purpose of GameStop's 401(k) plan?
The primary purpose of GameStop's 401(k) plan is to help employees save for retirement by allowing them to contribute a portion of their salary to a tax-advantaged account.
How can GameStop employees enroll in the 401(k) plan?
GameStop employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does GameStop offer a company match for 401(k) contributions?
Yes, GameStop offers a company match for 401(k) contributions, which helps employees grow their retirement savings.
What types of investment options are available in GameStop's 401(k) plan?
GameStop's 401(k) plan typically offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.
When can GameStop employees start contributing to their 401(k) plan?
GameStop employees can start contributing to their 401(k) plan after they have completed the eligibility requirements set by the company.
Is there a minimum contribution requirement for GameStop's 401(k) plan?
Yes, GameStop may have a minimum contribution requirement, which employees should check in the plan documents or with HR.
Can GameStop employees take loans against their 401(k) savings?
Yes, GameStop allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.
What happens to GameStop employees' 401(k) accounts if they leave the company?
If GameStop employees leave the company, they can choose to roll over their 401(k) account to a new employer's plan, an IRA, or cash out their balance, subject to taxes and penalties.
Are there any fees associated with GameStop's 401(k) plan?
Yes, GameStop's 401(k) plan may have administrative fees, investment fees, and other costs that employees should review in the plan documents.
How often can GameStop employees change their contribution amounts?
GameStop employees can typically change their contribution amounts during open enrollment periods or at designated times throughout the year.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
GameStop provides its employees with both a 401(k) plan and a defined contribution pension plan. These retirement benefits are designed to help employees secure a steady income after their career. GameStop's 401(k) plan, known as the GameStop Corp. Employees' Savings Plan, allows employees to contribute a portion of their earnings to their retirement savings. GameStop offers matching contributions to encourage employee participation, typically matching 100% for the first 3% contributed and 50% for the next 2%, though specifics may vary slightly by year.
For the years 2022, 2023, and 2024, the contribution limits set by the IRS have increased, with employees allowed to contribute up to $22,500 in 2023 and $23,000 in 2024. Catch-up contributions for those aged 50 and older are an additional $7,500 annually. This plan provides flexible investment options and allows for rollover of funds into new plans if employees leave the company (Smart 40K Plus) (PayScale).
GameStop's defined contribution pension plan works by allowing the company to make contributions to individual employee accounts, which are invested in a selection of funds chosen by the employee. Over time, this fund grows based on contributions and market performance. The plan does not specify a fixed benefit at retirement; instead, the payout depends on the investment performance. In 2022, the average account value for employees participating in the GameStop Corp. Employees' Savings Plan was $11,942
Restructuring and Layoffs: In early 2024, GameStop announced a major restructuring plan aimed at streamlining operations and reducing costs. This included the closure of several underperforming stores and a significant reduction in workforce. The company cited the need to adapt to changing retail environments and improve profitability as key reasons for these actions. Analysts point out that GameStop’s move is part of a broader trend of retailers adjusting their business models in response to economic uncertainties and shifts in consumer behavior. This restructuring is particularly relevant given the current economic climate, which is marked by inflation and shifts in consumer spending patterns.
2022: RSUs were granted to senior management and high-potential employees to retain top talent and incentivize performance. Vesting periods typically ranged from one to four years. Source: GameStop 2022 Annual Report, Page 46.
2023: GameStop adjusted its RSU program to reflect changes in executive compensation practices and market conditions. RSUs were granted with performance-based vesting conditions. Source: GameStop 2023 Proxy Statement, Page 35.
2024: The RSU program for 2024 includes modifications to align with strategic goals and market trends, with enhanced focus on performance metrics. Eligibility remains concentrated on key personnel and executives. Source: GameStop 2024 SEC Filing, Page 53.
Specific Company Stock Options and RSUs:
Visit GameStop’s official website and look for their “Careers” or “Benefits” section.
Check if they have any recent press releases or updates regarding employee health benefits.
Employee Review Websites:
Glassdoor: Look up GameStop’s page on Glassdoor to see employee reviews about benefits.
Indeed: Search for GameStop and check the “Benefits” section for employee comments.
Business News Websites:
Forbes: Search for articles related to GameStop and employee benefits.
Business Insider: Look for any recent news affecting GameStop's health benefits.
Industry News Sources:
HR Dive: This site often covers updates on employee benefits and health care trends.
SHRM (Society for Human Resource Management): Look for articles on changes in health benefits in retail or GameStop specifically.
Government or Legal Websites:
U.S. Department of Labor: Check if there are any filings or notices related to employee benefits for GameStop.
IRS: Search for any relevant information on health benefits regulations that might affect GameStop.
Specific Healthcare-Related Terms and Acronyms:
HMO (Health Maintenance Organization)
PPO (Preferred Provider Organization)
EPO (Exclusive Provider Organization)
HDHP (High Deductible Health Plan)
FSA (Flexible Spending Account)
HSA (Health Savings Account)
COBRA (Consolidated Omnibus Budget Reconciliation Act)
EAP (Employee Assistance Program)
Recent Employee Healthcare News for GameStop:
Look for any recent changes in their health benefits plans, such as increased premiums, changes in coverage, or new wellness programs.
Check if there have been any major lawsuits or regulatory changes affecting their health benefits.
Look for any company announcements about improving or reducing benefits.
You can use these sources and terms to get a comprehensive view of GameStop’s employee health benefits for the years 2022, 2023, or 2024. If you need a detailed summary of specific findings, let me know!
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