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Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Edwards Lifesciences 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 Edwards Lifesciences 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 Edwards Lifesciences offer to its employees?
Edwards Lifesciences offers a 401(k) savings plan to help employees save for retirement.
Does Edwards Lifesciences match employee contributions to the 401(k) plan?
Yes, Edwards Lifesciences provides a matching contribution to employee 401(k) contributions, subject to certain limits.
How can I enroll in the 401(k) plan at Edwards Lifesciences?
Employees can enroll in the Edwards Lifesciences 401(k) plan through the company's benefits portal during the open enrollment period or upon hire.
What is the eligibility requirement for the 401(k) plan at Edwards Lifesciences?
Generally, all full-time employees of Edwards Lifesciences are eligible to participate in the 401(k) plan after completing a specified period of service.
Can I change my contribution percentage to the Edwards Lifesciences 401(k) plan?
Yes, employees can change their contribution percentage to the Edwards Lifesciences 401(k) plan at any time through the benefits portal.
What investment options are available in the Edwards Lifesciences 401(k) plan?
The Edwards Lifesciences 401(k) plan offers a variety of investment options, including mutual funds and target-date funds, allowing employees to choose based on their risk tolerance.
When can I start withdrawing from my Edwards Lifesciences 401(k) plan?
Employees can typically begin withdrawing from their Edwards Lifesciences 401(k) plan without penalty at age 59½, subject to plan rules.
Is there a loan option available through the Edwards Lifesciences 401(k) plan?
Yes, Edwards Lifesciences allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.
How often can I make changes to my investment allocations in the Edwards Lifesciences 401(k) plan?
Employees can typically make changes to their investment allocations in the Edwards Lifesciences 401(k) plan on a quarterly basis or as specified in the plan documents.
What happens to my Edwards Lifesciences 401(k) plan if I leave the company?
If you leave Edwards Lifesciences, you can roll over your 401(k) balance to another retirement account, withdraw the funds, or leave the balance in the plan, depending on the plan’s rules.
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