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Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Pure Storage 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 Pure Storage 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 Pure Storage offer to its employees?
Pure Storage offers a 401(k) retirement savings plan to help employees save for their future.
Does Pure Storage match employee contributions to the 401(k) plan?
Yes, Pure Storage provides a matching contribution to the 401(k) plan, which enhances employees' retirement savings.
What is the eligibility criteria for Pure Storage employees to participate in the 401(k) plan?
Most employees at Pure Storage are eligible to participate in the 401(k) plan after completing a specified period of employment.
Can employees at Pure Storage choose how to invest their 401(k) contributions?
Yes, employees at Pure Storage can choose from a variety of investment options within the 401(k) plan.
What is the maximum contribution limit for the Pure Storage 401(k) plan?
The maximum contribution limit for the Pure Storage 401(k) plan is in line with IRS guidelines, which may change annually.
Does Pure Storage allow employees to take loans against their 401(k) savings?
Yes, Pure Storage allows employees to take loans against their 401(k) savings, subject to certain terms and conditions.
What happens to my 401(k) balance if I leave Pure Storage?
If you leave Pure Storage, you can choose to roll over your 401(k) balance to another retirement account or withdraw it, subject to applicable taxes and penalties.
Is there a vesting schedule for the employer match in Pure Storage's 401(k) plan?
Yes, Pure Storage has a vesting schedule for the employer match, which means employees must work for a certain period to fully own the matched funds.
Can Pure Storage employees change their contribution percentage to the 401(k) plan?
Yes, employees at Pure Storage can change their contribution percentage at any time, subject to plan rules.
How often can employees at Pure Storage make changes to their investment allocations in the 401(k) plan?
Employees at Pure Storage can typically make changes to their investment allocations on a regular basis, often daily or monthly, depending on the plan provisions.
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