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

Healthcare Provider Update: Provides medical, dental, and vision insurance, wellness programs, and retirement planning resources 6. With ACA subsidies set to expire, Crocs holistic benefits approach helps employees maintain affordability and access to care. Click here to learn more

Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Crocs 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 Crocs 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 Crocs?

The 401(k) plan at Crocs is a retirement savings plan that allows employees to save for their future with pre-tax contributions.

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

Employees can enroll in the Crocs 401(k) plan by accessing the company’s benefits portal and following the enrollment instructions provided.

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

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

What is the vesting schedule for Crocs' 401(k) matching contributions?

The vesting schedule for Crocs' matching contributions typically follows a standard timeline, which employees can review in the benefits documentation.

Can I change my contribution percentage to the Crocs 401(k) plan?

Yes, employees at Crocs can change their contribution percentage at any time through the benefits portal.

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

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

Is there a minimum contribution requirement for the Crocs 401(k) plan?

Yes, Crocs may have a minimum contribution requirement, which employees should check in the plan details.

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

Yes, Crocs allows employees to take loans from their 401(k) accounts under certain conditions as outlined in the plan documents.

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

If you leave Crocs, you will have options regarding your 401(k) account, including rolling it over to another retirement account or cashing it out.

How often can I review my Crocs 401(k) account statements?

Crocs provides regular account statements, typically quarterly, allowing employees to review their 401(k) account performance.

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

As of early 2024, Crocs has made adjustments to its 401(k) plan to enhance employee benefits. The company increased its matching contributions, now offering up to 6% match on employee contributions. Additionally, Crocs introduced a new option for employees to allocate a portion of their 401(k) into a Roth 401(k) account, providing greater flexibility in retirement savings.

Restructuring and Layoffs: In early 2023, Crocs announced a restructuring plan aimed at streamlining operations to focus on core markets and digital expansion. This restructuring included the reduction of certain positions within the company, impacting various departments globally. The move was part of Crocs' strategy to adapt to shifting market demands and enhance efficiency. Benefit Changes and Pension/401(k) Updates: There were no significant updates regarding company benefits, pension, or 401(k) changes reported for Crocs in 2023-2024. However, the restructuring may indirectly affect employee benefits due to potential changes in company policies or resources.

In 2022, Crocs offered stock options and RSUs to its executive team and key employees. These grants were designed to incentivize performance and align interests with shareholders. The RSUs generally vested over a three-year period, contingent on both continued employment and company performance targets.

Here’s the summary of Crocs' health benefits information and recent healthcare news: Crocs Health Benefits Overview (2022-2024) Benefits Information: Crocs offers a range of health benefits, including medical, dental, and vision coverage. They typically provide multiple plan options to accommodate different needs. Glassdoor: Benefits Information: According to employee reviews, Crocs provides competitive health insurance, wellness programs, and flexible spending accounts. Coverage options often include preventative care, hospital care, and prescription drug plans. Indeed: Benefits Information: Crocs employees have reported comprehensive health benefits, including health insurance plans, dental and vision coverage, and access to wellness programs. There are also reports of employer contributions to Health Savings Accounts (HSAs).

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For more information you can reach the plan administrator for Crocs at 7477 E. Dry Creek Pkwy. Niwot, CO 80503; or by calling them at 303-848-7000.

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