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Healthcare Provider Update: Twilio provides health insurance coverage to its U.S.-based employees through partnerships with major providers. Employees can choose from medical, dental, and vision plans, with access to mental health services, fertility benefits, and generous parental leave. Twilio also offers Health Savings Accounts (HSAs) with employer contributions, flexible work arrangements, and wellness reimbursements. Twilio Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more
Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Twilio 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 Twilio 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 Twilio offer to its employees?
Twilio offers a 401(k) retirement plan to help employees save for their future.
Does Twilio match contributions to its 401(k) plan?
Yes, Twilio provides a matching contribution to employees who participate in the 401(k) plan.
What is the eligibility requirement for Twilio's 401(k) plan?
Employees at Twilio are eligible to participate in the 401(k) plan after completing a specified period of service.
Can employees at Twilio choose how to invest their 401(k) contributions?
Yes, Twilio allows employees to choose from a variety of investment options for their 401(k) contributions.
Is there a vesting schedule for Twilio's 401(k) matching contributions?
Yes, Twilio has a vesting schedule that determines when employees fully own the matching contributions made to their 401(k) accounts.
How often can Twilio employees change their 401(k) contribution amounts?
Twilio employees can change their contribution amounts at regular intervals, typically during open enrollment or at any time as allowed by the plan.
What are the tax benefits of participating in Twilio's 401(k) plan?
Contributions to Twilio's 401(k) plan are made on a pre-tax basis, which can lower an employee's taxable income.
Can Twilio employees take loans against their 401(k) savings?
Yes, Twilio allows employees to take loans against their 401(k) savings, subject to certain conditions and limits.
What happens to a Twilio employee's 401(k) if they leave the company?
If a Twilio employee leaves the company, they have several options for their 401(k), including rolling it over to another retirement account or cashing it out.
Are there any fees associated with Twilio's 401(k) plan?
Yes, there may be administrative fees associated with Twilio's 401(k) plan, which are disclosed in the plan documents.
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