What Ingredion Employees Should Know About Caring for Aging Parents
Healthcare Provider Update: Healthcare Provider for Ingredion
For Ingredion, the primary healthcare provider facilitating health benefits for employees is generally expected to be a major national health insurer. While specific details can vary by location and employee plan selection, Ingredion typically partners with prominent insurers like UnitedHealthcare, Anthem (Elevance Health), or Cigna. Employees should review their specific benefits documentation to confirm the insurer applicable to their individual or family healthcare plans.
Potential Healthcare Cost Increases in 2026
As we look toward 2026, Ingredion employees may face significant healthcare cost increases stemming from rising premiums in the ACA marketplace. Notably, with many states anticipating premium hikes exceeding 60%, employees could feel the pinch as employers may adjust benefit structures, shifting more costs onto them. The expiration of enhanced federal subsidies may further amplify these financial burdens, with up to 92% of ACA enrollees potentially experiencing out-of-pocket premium increases exceeding 75%. Given the upward trend in medical costs driven by pharmaceutical expenses and healthcare service inflation, it is vital for employees to proactively plan for these anticipated changes in their healthcare expenditures.
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'Many Ingredion 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 Ingredion 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 Ingredion 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. Ingredion 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, Ingredion 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 Ingredion 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. Ingredion 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 Ingredion 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 Ingredion 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.
The 401k plan offered by Ingredion is a retirement savings plan that allows employees to save a portion of their earnings on a tax-deferred basis.
How does Ingredion match employee contributions to the 401k plan?
Ingredion matches employee contributions to the 401k plan up to a certain percentage, helping employees maximize their retirement savings.
Can employees of Ingredion choose how their 401k contributions are invested?
Yes, employees of Ingredion can choose from a variety of investment options within the 401k plan to align with their retirement goals.
What is the eligibility requirement for Ingredion's 401k plan?
To be eligible for Ingredion's 401k plan, employees typically need to meet specific criteria such as age and length of service.
When can employees of Ingredion enroll in the 401k plan?
Employees of Ingredion can enroll in the 401k plan during the initial enrollment period or during open enrollment periods as specified by the company.
How can Ingredion employees change their 401k contribution amount?
Ingredion employees can change their 401k contribution amount by submitting a request through the company’s HR portal or by contacting the HR department.
Does Ingredion offer a loan option against the 401k savings plan?
Yes, Ingredion does offer a loan option against the 401k savings plan, allowing employees to borrow from their savings under certain conditions.
What happens to my 401k savings if I leave Ingredion?
If you leave Ingredion, you have several options for your 401k savings, including rolling it over to another retirement account or cashing it out, subject to taxes and penalties.
Are there any fees associated with Ingredion's 401k plan?
Yes, there may be administrative fees associated with Ingredion's 401k plan, which are disclosed in the plan documents provided to employees.
Can Ingredion employees access their 401k funds while still employed?
Generally, Ingredion employees cannot access their 401k funds while still employed, except through loans or hardship withdrawals as permitted by the plan.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Pension Plan Details:
Look for the specific name of Ingredion's pension plan.
Check eligibility criteria such as years of service and age requirements.
401(k) Plan Details:
Identify the name of Ingredion's 401(k) plan.
Check who qualifies for the 401(k) plan.
Restructuring and Layoffs: In early 2024, Ingredion announced a significant restructuring plan to streamline operations and reduce costs. This includes a reduction of approximately 200 positions globally as part of their strategic realignment to focus on core businesses. The decision is driven by the need to adapt to changing market conditions and enhance operational efficiency. This move reflects broader industry trends of companies optimizing their workforce amidst economic uncertainties.
Benefit and Pension Changes: Ingredion is also revising its employee benefits package, including adjustments to its pension plan and 401(k) offerings. The company is shifting from a defined benefit pension plan to a defined contribution plan, impacting employees’ retirement savings and planning. Additionally, changes to the 401(k) plan will involve adjustments in matching contributions and investment options. This is crucial for employees to understand as it directly affects their retirement readiness and financial planning. Given the current economic, investment, tax, and political environment, these changes necessitate careful attention and adjustment to individual retirement strategies.
Ingredion provides stock options to select employees as part of their compensation plan. The company uses the acronym "ISO" for Incentive Stock Options and "NSO" for Non-Qualified Stock Options. Stock options are typically granted to executives and senior management.
RSUs Ingredion grants RSUs to executives and other high-level employees. The acronym "RSU" stands for Restricted Stock Units. RSUs are part of Ingredion’s long-term incentive plan and vest over a period of time, often contingent on performance or continued employment.
2022 Report: The annual report mentions a focus on maintaining competitive benefits to attract and retain top talent, with specific attention to healthcare and wellness programs.
2023 Report: Details include enhanced telehealth services and expanded mental health support as part of their benefits package.
2024 Report: Highlights ongoing improvements in health benefits, particularly in response to employee feedback and market trends.
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