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

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

Healthcare Provider Update: Healthcare Provider for Rocket Companies For employees of Rocket Companies, the primary provider of health insurance is the UnitedHealthcare (UHC) network. This collaboration allows Rocket employees access to a comprehensive range of health plan options that align with federal healthcare regulations and enhance overall employee wellness. Potential Healthcare Cost Increases in 2026 Looking ahead to 2026, healthcare costs are poised for significant increases, primarily driven by the anticipated expiration of expanded subsidies for Affordable Care Act (ACA) premiums, along with overarching medical inflation. It is projected that ACA premiums could rise dramatically, with some regions facing hikes of over 60%. As a result, more than 22 million enrollees could see their monthly premiums skyrocket by 75% or more, effectively pricing out many middle-income Americans from affordable coverage options. The combination of these factors creates a challenging landscape for consumers, necessitating proactive financial planning to mitigate the impact of these steep increases. Click here to learn more

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

Rocket Companies offers a 401(k) retirement savings plan to its employees.

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

Yes, Rocket Companies provides a matching contribution to employee 401(k) contributions, helping employees save more for retirement.

What is the eligibility requirement to participate in the Rocket Companies 401(k) plan?

Employees of Rocket Companies are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

Can employees of Rocket Companies choose how to invest their 401(k) contributions?

Yes, employees at Rocket Companies can choose from a variety of investment options within the 401(k) plan to align with their retirement goals.

What is the maximum contribution limit for the Rocket Companies 401(k) plan?

The maximum contribution limit for the Rocket Companies 401(k) plan is in accordance with IRS guidelines, which are updated annually.

Does Rocket Companies allow for catch-up contributions in its 401(k) plan?

Yes, Rocket Companies allows employees aged 50 and older to make catch-up contributions to their 401(k) plans.

How often can employees at Rocket Companies change their 401(k) contribution amounts?

Employees at Rocket Companies can change their 401(k) contribution amounts at designated times throughout the year, typically during open enrollment or as specified by the plan.

What happens to my 401(k) if I leave Rocket Companies?

If you leave Rocket Companies, you have several options for your 401(k) savings, including rolling it over to another retirement account, leaving it in the Rocket Companies plan, or cashing it out.

Are there any fees associated with the Rocket Companies 401(k) plan?

Yes, like most 401(k) plans, the Rocket Companies 401(k) plan may have administrative fees and investment-related expenses, which are disclosed in the plan documents.

Can employees take loans against their 401(k) at Rocket Companies?

Yes, Rocket Companies allows employees to take loans against their 401(k) balance, subject to the terms and conditions of the plan.