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Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Univar Solutions 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 Univar Solutions 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 primary purpose of the 401(k) plan at Univar Solutions?
The primary purpose of the 401(k) plan at Univar Solutions is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.
How can employees at Univar Solutions enroll in the 401(k) plan?
Employees at Univar Solutions can enroll in the 401(k) plan by accessing the company’s benefits portal and following the enrollment instructions provided.
Does Univar Solutions offer a company match for the 401(k) contributions?
Yes, Univar Solutions offers a company match for 401(k) contributions, which helps employees increase their retirement savings.
What is the maximum contribution limit for the 401(k) plan at Univar Solutions?
The maximum contribution limit for the 401(k) plan at Univar Solutions is aligned with IRS guidelines, which can change annually. Employees should check the latest limits on the benefits portal.
Can employees at Univar Solutions change their contribution percentage to the 401(k) plan?
Yes, employees at Univar Solutions can change their contribution percentage at any time through the benefits portal.
What investment options are available within the Univar Solutions 401(k) plan?
The Univar Solutions 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
Is there a vesting schedule for the company match in the Univar Solutions 401(k) plan?
Yes, there is a vesting schedule for the company match in the Univar Solutions 401(k) plan, which determines when employees fully own the matched contributions.
How often can employees at Univar Solutions review their 401(k) account statements?
Employees at Univar Solutions can review their 401(k) account statements quarterly, and they can also access their account information online at any time.
What happens to the 401(k) plan if an employee leaves Univar Solutions?
If an employee leaves Univar Solutions, they have several options for their 401(k) plan, including rolling it over to an IRA or a new employer's plan, or cashing it out, subject to taxes and penalties.
Can employees take loans against their 401(k) at Univar Solutions?
Yes, employees at Univar Solutions may have the option to take loans against their 401(k) balance, subject to the plan's specific rules and limits.
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