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Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Equitable Holdings 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 Equitable Holdings 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 Equitable Holdings?
The 401(k) plan at Equitable Holdings is a retirement savings plan that allows employees to save and invest a portion of their paycheck before taxes are taken out.
How can employees enroll in the 401(k) plan at Equitable Holdings?
Employees can enroll in the Equitable Holdings 401(k) plan by accessing the benefits portal or contacting the HR department for guidance on the enrollment process.
Does Equitable Holdings offer a company match for the 401(k) contributions?
Yes, Equitable Holdings provides a company match for employee contributions to the 401(k) plan, which helps to enhance retirement savings.
What are the contribution limits for the 401(k) plan at Equitable Holdings?
The contribution limits for the Equitable Holdings 401(k) plan are in line with IRS regulations, which can change annually. Employees should check the latest guidelines for the current limits.
Can employees take loans against their 401(k) plans at Equitable Holdings?
Yes, Equitable Holdings allows employees to take loans against their 401(k) balance, subject to certain terms and conditions outlined in the plan documents.
What investment options are available in the Equitable Holdings 401(k) plan?
The 401(k) plan at Equitable Holdings offers a range of investment options, including mutual funds, index funds, and other investment vehicles to suit different risk tolerances.
Is there a vesting schedule for the company match in the Equitable Holdings 401(k) plan?
Yes, Equitable Holdings has a vesting schedule for the company match, which means employees must work for the company for a certain period before they fully own the matched contributions.
How can employees change their contribution percentage to the 401(k) plan at Equitable Holdings?
Employees can change their contribution percentage by logging into the benefits portal or contacting HR to submit their request.
What happens to the 401(k) plan if an employee leaves Equitable Holdings?
If an employee leaves Equitable Holdings, they have several options for their 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it with Equitable Holdings.
Are there any penalties for early withdrawal from the Equitable Holdings 401(k) plan?
Yes, early withdrawals from the Equitable Holdings 401(k) plan may incur penalties and taxes, as per IRS regulations, unless certain conditions are met.
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