Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Align Technology employees who are ready to sign up for Medicare. Medicare Advantage plans are offered by private insurers in conjunction with the Medicare program and can provide you with additional health insurance coverage.
What’s in them?
In addition to signing up for Medicare Part A (hospital stays) and Part B (medical coverage), Medicare Advantage plans offer their subscribers extra features. This frequently, but not always, includes the Medicare Part D prescription drug plan. In some cases, Medicare Advantage plans offer coverage for areas not normally offered within regular Medicare plans. This can include dental, hearing, and vision insurance.
What are the rules?
Medicare pays for a fixed amount of your health care to Align Technology offering your Medicare Advantage (MA) plan. Beyond that, each MA plan requires different out-of-pocket fees. Those fees can vary from plan to plan. Depending on your plan, you may have different rules you need to follow when seeking a medical referral to get treatment from a specialist or if you are seeking non-urgent care (even from health care providers within the plan). It’s also important to remember that rules, requirements, and features may change from year to year. It will be important to make sure that those changes line up with any treatment that you need.
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What about my prescriptions?
While most MA plans offer Part D coverage for prescription drugs, some don’t. One example would be Medicare Medical Savings Account plans. In cases where the plan can’t or chooses not to offer prescription drug coverage, you may have the ability to join a separate Medicare Prescription Drug Plan, depending on the type of plan you enroll in. You will likely have a number of questions and concerns as you examine your options for Medicare Advantage plans. Discuss these with a trusted financial professional who can help you make choices that may best fit your lifestyle.
1. Medicare.gov, 2022
What is the 401(k) plan offered by Align Technology?
Align Technology offers a 401(k) plan that allows employees to save for retirement through pre-tax and Roth contributions.
How can employees enroll in Align Technology's 401(k) plan?
Employees can enroll in Align Technology's 401(k) plan through the company’s benefits portal during the enrollment period or after they become eligible.
What is the employer match for Align Technology's 401(k) plan?
Align Technology provides a matching contribution to the 401(k) plan, which is typically a percentage of the employee's contributions, up to a certain limit.
When can employees start contributing to Align Technology's 401(k) plan?
Employees can start contributing to Align Technology's 401(k) plan after they have completed their eligibility period, which is outlined in the employee handbook.
Are there any fees associated with Align Technology's 401(k) plan?
Yes, Align Technology's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.
What types of investment options are available in Align Technology's 401(k) plan?
Align Technology’s 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Can employees take loans against their 401(k) balance at Align Technology?
Yes, Align Technology allows employees to take loans against their 401(k) balance, subject to the terms and conditions of the plan.
What happens to my 401(k) account if I leave Align Technology?
If you leave Align Technology, you can choose to roll over your 401(k) balance to another retirement account, cash out, or leave it in the plan if permitted.
Does Align Technology offer any financial education resources for employees regarding their 401(k)?
Yes, Align Technology provides financial education resources and workshops to help employees understand their 401(k) options and investment strategies.
How often can employees change their contribution rate to Align Technology's 401(k) plan?
Employees can change their contribution rate to Align Technology's 401(k) plan at any time, subject to the plan’s guidelines.
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