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Healthcare Provider Update: Offers best-in-class healthcare, HSA, wellness programs, and parental leave 4. ACA-related planning is encouraged for retirees facing potential subsidy loss and rising costs Click here to learn more
Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Verisk Analytics 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 Verisk Analytics 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 401(k) plan offered by Verisk Analytics?
The 401(k) plan at Verisk Analytics is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.
How can employees at Verisk Analytics enroll in the 401(k) plan?
Employees at Verisk Analytics can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does Verisk Analytics offer a company match for the 401(k) contributions?
Yes, Verisk Analytics offers a company match for employee contributions to the 401(k) plan, helping employees maximize their retirement savings.
What is the eligibility requirement for Verisk Analytics' 401(k) plan?
Employees at Verisk Analytics typically become eligible for the 401(k) plan after completing a specified period of service, as outlined in the employee handbook.
Can employees at Verisk Analytics change their contribution percentage to the 401(k) plan?
Yes, employees at Verisk Analytics can change their contribution percentage at any time, subject to the plan's guidelines.
What investment options are available in the Verisk Analytics 401(k) plan?
The 401(k) plan at Verisk Analytics offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Is there a vesting schedule for the company match in the Verisk Analytics 401(k) plan?
Yes, Verisk Analytics has a vesting schedule for the company match, which means employees must work for a certain period before they fully own the matched contributions.
How often can employees at Verisk Analytics review their 401(k) account statements?
Employees at Verisk Analytics 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 Verisk Analytics?
If an employee leaves Verisk Analytics, they can choose to roll over their 401(k) balance into another retirement account, cash out, or leave the funds in the Verisk Analytics plan, subject to the plan's rules.
Are there loans available against the 401(k) plan for employees of Verisk Analytics?
Yes, Verisk Analytics allows employees to take loans against their 401(k) balance, subject to the terms and conditions of the plan.
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