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

Benchmark Electronics Employees: Navigating the Essentials of Medicare Advantage Plans for Your Retirement Health Needs

Healthcare Provider Update: Healthcare Provider for Benchmark Electronics The primary healthcare provider for Benchmark Electronics is UnitedHealthcare. This partnership ensures that employees have access to comprehensive medical coverage options, aligning with your interest in potential healthcare costs. Potential Healthcare Cost Increases in 2026 As we look ahead to 2026, healthcare consumers are facing a challenging landscape characterized by significant premium increases for Affordable Care Act (ACA) marketplace plans. Nationwide, some states are projected to see hikes exceeding 60% as insurers grapple with high medical costs and the potential loss of enhanced federal subsidies. Estimates suggest that without corrective legislative actions, up to 22 million enrollees could experience out-of-pocket premium increases of over 75%. This scenario may lead to many middle-income Americans facing affordability issues as rising premiums coincide with decreased support, potentially pricing them out of adequate healthcare coverage. Click here to learn more

Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Benchmark Electronics 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 Benchmark Electronics 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.

Featured Video

Articles you may find interesting:

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 Benchmark Electronics?

The 401(k) plan at Benchmark Electronics is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them prepare for retirement.

Does Benchmark Electronics match employee contributions to the 401(k) plan?

Yes, Benchmark Electronics offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.

How can I enroll in the Benchmark Electronics 401(k) plan?

Employees can enroll in the Benchmark Electronics 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.

What are the eligibility requirements for the Benchmark Electronics 401(k) plan?

Employees of Benchmark Electronics are generally eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documents.

Can I change my contribution rate to the Benchmark Electronics 401(k) plan?

Yes, employees can change their contribution rate to the Benchmark Electronics 401(k) plan at any time, subject to the plan's rules and limits.

What investment options are available in the Benchmark Electronics 401(k) plan?

The Benchmark Electronics 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Is there a vesting schedule for the employer match in the Benchmark Electronics 401(k) plan?

Yes, the employer match in the Benchmark Electronics 401(k) plan may be subject to a vesting schedule, which determines when employees fully own the matched contributions.

Can I take a loan from my Benchmark Electronics 401(k) plan?

Yes, employees may have the option to take a loan against their 401(k) balance in the Benchmark Electronics plan, subject to specific terms and conditions.

What happens to my Benchmark Electronics 401(k) if I leave the company?

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

Are there any fees associated with the Benchmark Electronics 401(k) plan?

Yes, the Benchmark Electronics 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

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

In 2024, Benchmark Electronics announced a significant restructuring plan involving the reduction of its workforce by approximately 10%. The company is also undergoing changes to its employee benefits package, including adjustments to its 401(k) matching contributions.

Additional Articles

Check Out Articles for Benchmark Electronics employees

For more information you can reach the plan administrator for Benchmark Electronics at 56 South Rockford Dr Tempe, AZ 85281; or by calling them at +1 480-967-2100.