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Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Centene 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 Centene 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 retirement plan does Centene offer to its employees?
Centene offers a 401(k) Savings Plan to help employees save for retirement.
Does Centene provide a matching contribution for its 401(k) plan?
Yes, Centene provides a matching contribution to encourage employees to save for retirement.
How can Centene employees enroll in the 401(k) Savings Plan?
Centene employees can enroll in the 401(k) Savings Plan through the employee benefits portal during open enrollment or after they become eligible.
What is the eligibility criteria for Centene’s 401(k) Savings Plan?
Employees at Centene are generally eligible to participate in the 401(k) Savings Plan after completing a specified period of employment.
Can Centene employees make changes to their 401(k) contributions?
Yes, Centene employees can change their contribution amounts at any time through the benefits portal.
What investment options are available in Centene's 401(k) Savings Plan?
Centene offers a variety of investment options including mutual funds, target-date funds, and other investment vehicles.
Is there a vesting schedule for Centene’s 401(k) matching contributions?
Yes, Centene has a vesting schedule for matching contributions, which means employees must work for a certain period to fully own those funds.
How often can Centene employees review their 401(k) account statements?
Centene employees can review their 401(k) account statements quarterly through the online benefits portal.
What happens to my Centene 401(k) if I leave the company?
If you leave Centene, you can choose to roll over your 401(k) balance to another retirement account or withdraw the funds, subject to tax implications.
Does Centene offer financial education resources for its 401(k) plan participants?
Yes, Centene provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
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