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Why More Clorox Employees Are Considering Social Security Early â€” And How Medicare Changes Play a Role

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'Clorox 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.

'Clorox 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 Clorox 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 Clorox 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 Clorox 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 Clorox 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 Clorox.

ðŸ“ž 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.

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Sources:

1. CNBC. ' Does it still make sense to wait to claim Social Security retirement benefits? ' by Lorie Konish. 29 Apr. 2025.
2. U.S. Bureau of Labor Statistics. ' 15 percent of private industry workers had access to a defined benefit retirement plan ,' 10 Apr. 2024.
3. Kaiser Family Foundation. “ Health Costs Consume a Large Portion of Income for Millions of People with Medicare ,' by Ochieng, Nancy; Juliette Cubanski; Tricia Neuman; Anthony Damico. 21 Aug. 2025.
Other Resources:
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 Clorox 401(k) plan?

The Clorox 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

How can I enroll in the Clorox 401(k) plan?

Employees can enroll in the Clorox 401(k) plan by accessing the benefits portal or contacting the HR department for guidance on the enrollment process.

What is the employer match for the Clorox 401(k) plan?

Clorox offers a competitive employer match for contributions made to the 401(k) plan, which can significantly enhance your retirement savings.

At what age can I start contributing to the Clorox 401(k) plan?

Employees can start contributing to the Clorox 401(k) plan as soon as they are eligible, typically upon hire or after a specified waiting period.

How much can I contribute to the Clorox 401(k) plan each year?

The contribution limits for the Clorox 401(k) plan are set according to IRS guidelines, which may change annually. Employees should check the latest limits for the current year.

Does Clorox offer a Roth 401(k) option?

Yes, Clorox provides a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

Can I take a loan from my Clorox 401(k) plan?

Yes, Clorox allows employees to take loans from their 401(k) accounts under certain conditions, subject to plan rules.

What investment options are available in the Clorox 401(k) plan?

The Clorox 401(k) plan offers a range of investment options, including mutual funds and target-date funds, allowing employees to choose based on their risk tolerance.

How often can I change my contributions to the Clorox 401(k) plan?

Employees can change their contribution amounts to the Clorox 401(k) plan at any time, subject to the plan’s specific guidelines.

What happens to my Clorox 401(k) if I leave the company?

If you leave Clorox, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Clorox plan if eligible.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Clorox announced a restructuring plan involving a 10% reduction in its workforce to streamline operations and reduce costs. The company also updated its pension plan to freeze accruals for employees hired after 2024 and is adjusting 401(k) matching contributions.