Why More Amkor Technology Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Amkor Technology
Amkor Technology employees typically have access to healthcare benefits through various health insurance providers, which may include large national insurers. While specific details about the current healthcare provider may vary, major insurers like UnitedHealthcare, Anthem, Cigna, and Aetna are often involved in providing options for corporate coverage.
Potential Healthcare Cost Increases for Amkor Technology in 2026
Looking ahead to 2026, Amkor Technology employees may confront significant increases in healthcare costs, largely due to soaring premiums in the Affordable Care Act (ACA) marketplace. Reports indicate that some states may experience premium hikes exceeding 60%, driven by the expiration of enhanced federal subsidies and rising medical costs. With many employees relying on ACA plans, it is crucial for them to evaluate their coverage options early, as rising deductibles and out-of-pocket expenses could lead to a financial strain for families. Awareness and proactive planning will be essential for navigating these looming healthcare challenges effectively.
Click here to learn more
'Amkor Technology employees weighing when to file for Social Security should consider both current health care costs and long-term income needs, so they can stay adaptable as retirement unfolds.' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.
'Amkor Technology employees can benefit from thoughtfully coordinating Social Security timing with health care expenses so their retirement income stays aligned with their evolving needs over time.' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.
In this article, we will discuss:
How Social Security filing age affects retirement income.
How Medicare expenses factor into when retirees claim benefits.
Why emotional concerns are shifting filing behavior for many Americans.
Written by Wealth Enhancement advisors Kevin Landis, CPA and Wesley Boudreaux
Advisors in the retirement-income space have long suggested that retirees consider delaying filing for Social Security benefits. For those with a full retirement age (FRA) of 67, waiting until age 70 can result in monthly payments that are around 24% higher.
1
And for those with an FRA of 66, the increase if one waits until age 70 is closer to 32%.
1
Amkor Technology employees nearing retirement often hear this same message.
However, new national data indicates a growing number of Americans plan to claim Social Security before age 70. Cost pressures and health care related issues are major influences in this trend.
The Retirees’ Reality
Today’s retirees face a very different environment than those in past decades, including less access to traditional pensions, rising health care costs, and mounting everyday living expenses. In the private sector, only about 15% of workers still have access to defined benefit pensions,
2
affecting many households and Amkor Technology employees.
According to retirement consultant Wesley Boudreaux, 'most retirees are not choosing to claim early for the sake of it.” Instead, rising medical and living costs are driving earlier benefit decisions because of cash flow pressures.
One major factor? Health care. Nearly 39% of out-of-pocket health care spending by Medicare beneficiaries was equivalent to Social Security payments received, on average, in 2022.
3
Medicare Advantage: A Key Planning Factor
Additionally, shifts in Medicare Advantage plans have left many retirees unsure about upcoming costs. Benefit structures can vary significantly by year or by region, causing cost surprises that Amkor Technology workers and their families may need to plan for.
“We are already seeing clients paying more for health care than expected,” said Kevin Landis, CPA. “When medical expenses rise, Social Security often becomes the first lever people pull to handle that burden.”
This is why coordinating Social Security filing decisions with Medicare coverage choices remains important, particularly when plans change annually.
“This is the intersection of Social Security and health care planning,” Landis adds. “Changes in one can influence the other.”
Emotional Considerations Also Matter
Money matters aren’t the only reason retirees claim earlier. Concerns about the future of Social Security have caused many to look for the emotional comfort of taking benefits sooner, including some Amkor Technology workers preparing for retirement.
While benefits are expected to continue—even if trust fund reserves decline in the 2030s—worries about future payouts can play a role.
“It’s not just about math,” Boudreaux explains. “People want control and stability in retirement, even if that means receiving less over time.”
Finding the Right Approach for You
Whether filing early is a good fit depends a lot on health, cash flow needs, and longer-term retirement goals. Thoughtful planning helps maintain flexibility, rather than driving you to respond under pressure.
“The best approach balances today’s needs with what lies ahead,” Landis says. “And that begins with understanding how Medicare and Social Security interact.”
Need Help Reviewing Your Options?
The Retirement Group, a division of Wealth Enhancement, helps individuals evaluate Medicare electives, analyze Social Security filing alternatives, and design retirement income strategies based on personal goals—including guidance tailored to those employed by Amkor Technology.
📞 Call (800) 900-5867 before your next enrollment period to schedule a Social Security & Health Care Review.
Work toward confidence in your long-term retirement income decisions.
About the Authors
Wesley Boudreaux and Kevin Landis, CPA, provide retirement income and tax planning guidance through Wealth Enhancement, helping people make informed choices about Social Security, Medicare, and financial well-being.
1. Social Security Administration.
When to Start Receiving Retirement Benefits: Publication No. 05-10147
. May 2024. U.S. Government Publishing Office, Washington D.C.
2. Topoleski, John J., Elizabeth A. Myers, and Sylvia L. Bryan.
Worker Participation in Employer-Sponsored Pensions: Data in Brief and Recent Trends (R43439)
. Congressional Research Service, 18 Sept. 2024.
3. Medicare Payment Advisory Commission.
Report to the Congress: Medicare Payment Policy – Chapter 11: The Medicare Advantage Program: Status Report
. Mar. 2025, medpac.gov/wp-content/uploads/2025/03/Mar25_Ch11_MedPAC_Report_To_Congress_SEC.pdf.
4. Board of Trustees, Social Security.
2025 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds
. 30 June 2025. U.S. Government Publishing Office, Washington D.C.
What is the 401(k) plan offered by Amkor Technology?
The 401(k) plan at Amkor Technology is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.
How does Amkor Technology match employee contributions to the 401(k) plan?
Amkor Technology 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 I enroll in Amkor Technology's 401(k) plan?
Employees at Amkor Technology can enroll in the 401(k) plan during the initial onboarding process or during the annual open enrollment period.
Are there any fees associated with Amkor Technology's 401(k) plan?
Yes, Amkor Technology's 401(k) plan may have administrative fees, investment fees, or other costs, which are disclosed in the plan documents.
What investment options are available in Amkor Technology's 401(k) plan?
Amkor Technology offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and company stock.
Can I take a loan against my 401(k) with Amkor Technology?
Yes, Amkor Technology allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan.
What happens to my 401(k) plan if I leave Amkor Technology?
If you leave Amkor Technology, you can choose to roll over your 401(k) balance to another retirement account, cash it out, or leave it in the Amkor Technology plan if eligible.
How can I access my 401(k) account information at Amkor Technology?
Employees can access their 401(k) account information through the plan's online portal provided by Amkor Technology’s plan administrator.
Is there a vesting schedule for Amkor Technology's 401(k) matching contributions?
Yes, Amkor Technology has a vesting schedule for matching contributions, which means you must work for the company for a certain period before you fully own those contributions.
Can I change my contribution amount to the 401(k) plan at Amkor Technology?
Yes, employees can change their contribution amounts to the 401(k) plan at any time, subject to the plan's guidelines.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Amkor Technology announced a reduction in its global workforce by 10% as part of a restructuring effort to improve operational efficiency. The company also introduced changes to its employee benefits package, including adjustments to health insurance plans and retirement contributions.
For more information you can reach the plan administrator for Amkor Technology at 2045 East Innovation Circle Tempe, AZ 85284; or by calling them at (480) 821-5000.
Further Information for Amkor Technology* Employees
/General/General%203.png?width=1280&height=853&name=General%203.png)
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)