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Anywhere Real Estate Employees: Navigating the Essentials of Medicare Advantage Plans for Your Retirement Health Needs

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Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Anywhere Real Estate 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 Anywhere Real Estate 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 type of 401(k) plan does Anywhere Real Estate offer to its employees?

Anywhere Real Estate offers a traditional 401(k) plan that allows employees to save for retirement on a tax-deferred basis.

Does Anywhere Real Estate provide a matching contribution for its 401(k) plan?

Yes, Anywhere Real Estate provides a matching contribution to employee 401(k) accounts, which helps employees maximize their retirement savings.

What is the eligibility requirement for employees to participate in the Anywhere Real Estate 401(k) plan?

Employees of Anywhere Real Estate become eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

Can employees at Anywhere Real Estate choose how much to contribute to their 401(k) plan?

Yes, employees at Anywhere Real Estate can choose to contribute a percentage of their salary to their 401(k) plan, within IRS limits.

What investment options are available in the Anywhere Real Estate 401(k) plan?

The Anywhere Real Estate 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Are there any fees associated with the 401(k) plan at Anywhere Real Estate?

Yes, Anywhere Real Estate's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

How often can employees change their contribution amounts in the Anywhere Real Estate 401(k) plan?

Employees at Anywhere Real Estate can change their contribution amounts at designated times throughout the year, usually during open enrollment periods.

Does Anywhere Real Estate offer financial education resources for employees regarding their 401(k) plan?

Yes, Anywhere Real Estate provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.

What happens to the 401(k) plan if an employee leaves Anywhere Real Estate?

If an employee leaves Anywhere Real Estate, they can roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the plan, depending on the plan's rules.

Is there a loan provision in the Anywhere Real Estate 401(k) plan?

Yes, the Anywhere Real Estate 401(k) plan may allow employees to take loans against their account balance, subject to specific terms and conditions.

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

Anywhere Real Estate offers employees a 401(k) plan called the "Anywhere Real Estate Group Employee Savings Plan." The plan encourages employees to save for retirement with tax-favored treatment and provides a wide range of investment options to suit different employee preferences. The plan includes automatic enrollment for eligible employees, typically after completing a minimum of one year of service, and allows for immediate vesting in the company match contributions after a certain period of time. The company has also implemented catch-up contributions for employees aged 50 and older, allowing them to contribute additional amounts each year

In January 2023, Anywhere Real Estate announced another round of layoffs following cuts made in mid-2022. The company revealed that it had reduced its workforce by 11% due to declining housing market trends. They are also winding down their RealSure program, a cash-offer service for home sellers. These cuts are part of broader cost-reduction efforts aimed at adapting to ongoing market downturns. The company has committed to focusing more on digital innovations, lead generation, and supporting franchisees

Anywhere Real Estate offers various stock options and Restricted Stock Units (RSUs) to its employees, structured to enhance retention and reward performance. These RSUs are typically awarded to higher-level employees, including executives, as part of a long-term incentive plan. For example, in 2022 and 2023, RSUs were granted based on performance metrics such as the company's revenue and EBITDA targets (Anywhere Real Estate Inc.). The stock options provided to employees allow them to purchase shares of Anywhere Real Estate (NYSE: HOUS) at a set price, which is generally the market price at the time of the grant. These options typically vest over a three-year period

Coverage Extensions (2023-2024): In 2024, Anywhere expanded its health benefits to address the needs of elder caregiving and menopause support. These additional benefits reflect the company’s focus on supporting employees through various life stages, aiming to cater to both mid-career professionals and retirees (Home Page). Emphasis on Financial Planning Integration: The company encourages employees to integrate healthcare planning with financial management, offering resources to help navigate Medicare Advantage and other insurance changes. These services are especially beneficial for those nearing retirement (Home Page). Digital Healthcare and Accessibility: Digital health services are a priority for Anywhere, as the company focuses on delivering healthcare resources through online platforms. This digital shift is part of their broader strategy to enhance consumer experiences, integrating healthcare seamlessly into employees' real estate and financial planning

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For more information you can reach the plan administrator for Anywhere Real Estate at 175 Park Ave Madison, NJ 7940; or by calling them at (973) 407-2000.

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