Why More Carrier Global Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Carrier Global
Carrier Global partners with various healthcare providers to support employee health and well-being, though the specific providers may vary based on location and employer agreements. Typically, they utilize major healthcare systems and networks to offer comprehensive benefits, including access to primary care, specialty services, and wellness programs.
Potential Healthcare Cost Increases in 2026
As we approach 2026, healthcare costs are projected to rise significantly, driven by a combination of key factors such as the potential expiration of federal premium subsidies and increased medical spending. The Affordable Care Act (ACA) marketplace could see premium hikes as steep as 75% for many enrollees, reflecting aggressive rate increases from leading insurers. With ongoing trends like rising provider costs and higher demand for expensive medications, consumers are advised to prepare for these financial pressures by considering strategic adjustments to their health plans and seeking cost-saving alternatives wherever possible.
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'Carrier Global 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.
'Carrier Global 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.
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And for those with an FRA of 66, the increase if one waits until age 70 is closer to 32%.
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Carrier Global 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,
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affecting many households and Carrier Global 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.
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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 Carrier Global 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 Carrier Global 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 Carrier Global.
📞 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 Carrier Global?
The 401(k) plan at Carrier Global is a retirement savings plan that allows employees to save a portion of their earnings on a tax-deferred basis.
Does Carrier Global match employee contributions to the 401(k) plan?
Yes, Carrier Global offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
How can employees enroll in the 401(k) plan at Carrier Global?
Employees can enroll in the Carrier Global 401(k) plan through the company's benefits portal during the enrollment period or after they become eligible.
What is the eligibility requirement for the 401(k) plan at Carrier Global?
Employees of Carrier Global are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.
What types of investment options are available in Carrier Global's 401(k) plan?
Carrier Global's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
Can employees take loans against their 401(k) savings at Carrier Global?
Yes, Carrier Global allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What is the vesting schedule for Carrier Global's 401(k) matching contributions?
The vesting schedule for Carrier Global's matching contributions typically follows a graded vesting schedule, which means employees earn rights to the match over a period of years.
How often can employees change their contribution percentage to the 401(k) plan at Carrier Global?
Employees at Carrier Global can change their contribution percentage to the 401(k) plan at any time, subject to the guidelines set forth in the plan.
What happens to the 401(k) savings if an employee leaves Carrier Global?
If an employee leaves Carrier Global, they have several options for their 401(k) savings, including rolling it over to another retirement account or leaving it in the Carrier Global plan if eligible.
Is there a default investment option for new enrollees in Carrier Global's 401(k) plan?
Yes, Carrier Global has a default investment option, typically a target-date fund, for employees who do not make an investment choice upon enrollment.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Carrier Global has announced a significant restructuring plan, which includes layoffs impacting approximately 5% of its workforce. The company is also revising its pension and 401(k) plans, shifting towards a defined contribution system to manage costs more effectively.
For more information you can reach the plan administrator for Carrier Global at 13995 Pasteur Blvd. Palm Beach Gardens, FL 33418; or by calling them at +1 561-365-2000.
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