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

Activision Blizzard Employees: Navigating the Complexities of Extended Care Costs in Retirement

Healthcare Provider Update: Provides PPO, HMO, and CDHP plans with HSA/HRA options, dental, vision, and mental health support 7. ACA planning is recommended for retirees and those nearing coverage transitions. Click here to learn more

Addressing the potential risks of extended-term care expenses may be one of the biggest financial challenges for Activision Blizzard employees who are developing a retirement strategy.

Seven in ten Activision Blizzard employees over age 65 can expect to need extended care services at some point in their lives. So understanding the various types of extended care services – and what those services may cost – is critical as you consider your retirement approach.

What Is Extended Care?

Extended care is not a single activity. It refers to a variety of medical and non–medical services needed by those who have a chronic illness or disability – most commonly associated with aging.

Extended care can include everything from assistance with activities of daily living – help dressing, bathing, using the bathroom, or even driving to the store – to more intensive therapeutic and medical care requiring the services of skilled medical personnel.

Extended care may be provided at home, at a community center, in an assisted living facility, or in a skilled nursing home. And extended care is not exclusively for the elderly; it is possible to need extended care at any age.

How Much Does Extended Care Cost?

Extended care costs vary state by state and region by region. The 2021 national average for care in a skilled care facility (single occupancy in a nursing home) was $108,405 a year. The national average for care in an assisted living center (single occupancy) was $54,000 a year. Home health aides cost a median of $27 per hour, but that rate may increase when a licensed nurse is required.

What Are the Payment Choices?

Often, extended care is provided by family and friends. Providing care can be a burden, however, and the need for assistance tends to increase with age.

Activision Blizzard employees who would rather not burden their family and friends have two main choices for covering the cost of extended care: they can choose to self-insure or they can purchase extended care insurance.

Featured Video

Articles you may find interesting:

Many self-insure by default – simply because they haven't made other arrangements. Those who self-insure may depend on personal savings and investments to fund any extended care needs. The other approach is to consider purchasing extended care insurance, which can cover all levels of care, from skilled care to custodial care to in-home assistance.

When it comes to addressing your extended care needs, many look to select a strategy that may help them protect assets, preserve dignity, and maintain independence. If those concepts are important to you, consider your approach to extended care.

GenWorth.com, 2022

ACL.gov, 2022

What type of retirement savings plan does Activision Blizzard offer to its employees?

Activision Blizzard offers a 401(k) retirement savings plan to help employees save for their future.

Does Activision Blizzard match employee contributions to the 401(k) plan?

Yes, Activision Blizzard provides a matching contribution to the 401(k) plan, subject to certain limits.

What is the maximum contribution limit for the Activision Blizzard 401(k) plan?

The contribution limit for the Activision Blizzard 401(k) plan is aligned with the IRS limits, which may change annually.

Can employees of Activision Blizzard choose their investment options within the 401(k) plan?

Yes, employees at Activision Blizzard can select from a variety of investment options within the 401(k) plan.

When can employees of Activision Blizzard start contributing to the 401(k) plan?

Employees of Activision Blizzard can begin contributing to the 401(k) plan after completing their eligibility requirements.

Is there a vesting schedule for the matching contributions made by Activision Blizzard?

Yes, Activision Blizzard has a vesting schedule for matching contributions, which determines when employees fully own those funds.

How can Activision Blizzard employees access their 401(k) account information?

Employees can access their 401(k) account information through the designated online portal provided by Activision Blizzard's plan administrator.

What happens to my 401(k) plan if I leave Activision Blizzard?

If you leave Activision Blizzard, you have several options for your 401(k) plan, including rolling it over to another retirement account or leaving it with Activision Blizzard.

Can employees take loans against their 401(k) balance at Activision Blizzard?

Yes, Activision Blizzard allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.

Are there any penalties for withdrawing funds from the Activision Blizzard 401(k) plan before retirement age?

Yes, early withdrawals from the Activision Blizzard 401(k) plan may incur penalties and taxes unless specific conditions are met.

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

Activision Blizzard announced significant layoffs and a restructuring plan to streamline operations and cut costs. The company also indicated possible changes to employee benefits.

Additional Articles

Check Out Articles for Activision Blizzard employees

For more information you can reach the plan administrator for Activision Blizzard at 3100 Ocean Park Boulevard Santa Monica, CA 90405; or by calling them at (310) 255-2000.