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Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Cerner 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 Cerner 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 Cerner 401(k) Savings Plan?
The Cerner 401(k) Savings Plan is a retirement savings plan that allows eligible employees to save for retirement through pre-tax and/or Roth contributions.
How can Cerner employees enroll in the 401(k) Savings Plan?
Cerner employees can enroll in the 401(k) Savings Plan by accessing the Cerner benefits portal during the enrollment period or upon hire.
What types of contributions can Cerner employees make to the 401(k) Savings Plan?
Cerner employees can make pre-tax contributions, Roth contributions, and after-tax contributions to the 401(k) Savings Plan.
Does Cerner offer a company match for the 401(k) Savings Plan?
Yes, Cerner offers a company match for employee contributions to the 401(k) Savings Plan, subject to specific terms and conditions.
What is the maximum contribution limit for Cerner employees participating in the 401(k) Savings Plan?
The maximum contribution limit for Cerner employees is determined by IRS regulations and may change annually; employees should check the latest IRS guidelines for the current limit.
When can Cerner employees start withdrawing from their 401(k) Savings Plan?
Cerner employees can typically start withdrawing from their 401(k) Savings Plan upon reaching age 59½, or earlier under certain circumstances such as financial hardship.
Are there any fees associated with the Cerner 401(k) Savings Plan?
Yes, there may be fees associated with the Cerner 401(k) Savings Plan, including administrative fees and investment-related fees. Employees should review the plan documents for details.
Can Cerner employees take a loan against their 401(k) Savings Plan?
Yes, Cerner allows employees to take a loan against their 401(k) Savings Plan, subject to specific terms and conditions outlined in the plan documents.
How can Cerner employees manage their 401(k) investments?
Cerner employees can manage their 401(k) investments by logging into the benefits portal and selecting from various investment options available in the plan.
What happens to a Cerner employee's 401(k) Savings Plan if they leave the company?
If a Cerner employee leaves the company, they can choose to leave their funds in the plan, roll them over to another retirement account, or withdraw the funds, subject to tax implications.
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