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Healthcare Provider Update: Provides multiple medical plans, dental, vision, HSAs/FSAs, and wellness programs, with additional perks like on-site daycare and fitness centers 6. With ACA premiums rising and subsidies expiring, Wolverines comprehensive benefits may help employees avoid steep out-of-pocket costs and maintain consistent coverage. Click here to learn more
Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for Wolverine World Wide 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 Wolverine World Wide 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 Wolverine World Wide?
The 401(k) plan at Wolverine World Wide is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How does Wolverine World Wide match employee contributions to the 401(k) plan?
Wolverine World Wide offers a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions, up to a certain limit.
When can employees at Wolverine World Wide enroll in the 401(k) plan?
Employees at Wolverine World Wide can enroll in the 401(k) plan during their initial onboarding or during the annual open enrollment period.
What investment options are available in the Wolverine World Wide 401(k) plan?
The Wolverine World Wide 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
Is there a vesting schedule for the matching contributions at Wolverine World Wide?
Yes, Wolverine World Wide has a vesting schedule for matching contributions, meaning employees must work for a certain period before they fully own the employer's contributions.
Can employees at Wolverine World Wide take loans against their 401(k) savings?
Yes, Wolverine World Wide allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What happens to the 401(k) plan if an employee leaves Wolverine World Wide?
If an employee leaves Wolverine World Wide, they can choose to roll over their 401(k) balance to a new employer's plan, an IRA, or take a distribution, subject to taxes and penalties.
How can employees at Wolverine World Wide access their 401(k) account information?
Employees at Wolverine World Wide can access their 401(k) account information through the company’s benefits portal or by contacting the plan administrator.
Are there any fees associated with the Wolverine World Wide 401(k) plan?
Yes, there may be administrative and investment fees associated with the Wolverine World Wide 401(k) plan, which are disclosed in the plan documents.
What is the minimum contribution rate for the 401(k) plan at Wolverine World Wide?
The minimum contribution rate for the 401(k) plan at Wolverine World Wide is typically set at 1% of the employee's salary, though employees are encouraged to contribute more.
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