New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Performance Food Group Employees: Navigating the Essentials of Medicare Advantage Plans for Your Retirement Health Needs

Healthcare Provider Update: Healthcare Provider for Performance Food Group Performance Food Group (PFG) collaborates with Vizient, Inc., a leading healthcare performance improvement company, to enhance its healthcare solutions for its employees. Vizient serves a significant portion of acute care providers and assists healthcare organizations in achieving cost-effective care and operational excellence. Potential Healthcare Cost Increases in 2026 As the healthcare landscape evolves, significant increases in costs are anticipated for 2026, particularly for consumers utilizing Affordable Care Act (ACA) plans. With potential hikes in premiums exceeding 60% in some states, the expiration of enhanced federal subsidies could leave over 22 million marketplace enrollees facing out-of-pocket premium increases of more than 75%. This scenario, compounded by rising medical costs and substantial profit margins reported by major insurers, signals a challenging economic environment for healthcare consumers in the upcoming year. Addressing these anticipated changes early will be critical for both individuals and businesses to mitigate potential financial burdens. Click here to learn more

Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Performance Food Group 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 Performance Food Group 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 Performance Food Group offer to its employees?

Performance Food Group offers a 401(k) retirement savings plan to its employees.

Does Performance Food Group match employee contributions to the 401(k) plan?

Yes, Performance Food Group provides a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.

What is the eligibility requirement to participate in the Performance Food Group 401(k) plan?

Employees of Performance Food Group are eligible to participate in the 401(k) plan after completing a specific period of service, typically outlined in the plan documents.

Can employees of Performance Food Group choose how their 401(k) contributions are invested?

Yes, employees can choose from a variety of investment options available within the Performance Food Group 401(k) plan.

How can employees of Performance Food Group enroll in the 401(k) plan?

Employees can enroll in the Performance Food Group 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What is the maximum contribution limit for the Performance Food Group 401(k) plan?

The maximum contribution limit for the Performance Food Group 401(k) plan is in line with IRS guidelines, which may change annually.

Does Performance Food Group offer a Roth 401(k) option?

Yes, Performance Food Group offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

Are there any fees associated with the Performance Food Group 401(k) plan?

Yes, there may be administrative and investment fees associated with the Performance Food Group 401(k) plan, which are disclosed in the plan documents.

When can employees of Performance Food Group access their 401(k) funds?

Employees can access their 401(k) funds upon reaching retirement age, or in cases of hardship, termination of employment, or other qualifying events as defined by the plan.

How often can employees change their contribution percentage in the Performance Food Group 401(k) plan?

Employees can change their contribution percentage at designated times throughout the year, as specified in the Performance Food Group 401(k) plan guidelines.

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

Performance Food Group offers RSUs and stock options as part of their compensation packages.