Why More Delek US Holdings Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
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'Delek US Holdings 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.
'Delek US Holdings 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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Delek US Holdings 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 Delek US Holdings 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 Delek US Holdings 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 Delek US Holdings 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 Delek US Holdings.
📞 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 type of retirement plan does Delek US Holdings offer to its employees?
Delek US Holdings offers a 401(k) retirement savings plan to its employees.
How can employees of Delek US Holdings enroll in the 401(k) plan?
Employees of Delek US Holdings can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does Delek US Holdings match employee contributions to the 401(k) plan?
Yes, Delek US Holdings provides a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.
What is the maximum contribution limit for the 401(k) plan at Delek US Holdings?
The maximum contribution limit for the 401(k) plan at Delek US Holdings follows the IRS guidelines, which can change annually. Employees should check the current limits each year.
Can employees of Delek US Holdings take loans against their 401(k) savings?
Yes, Delek US Holdings allows employees to take loans against their 401(k) savings, subject to the plan’s terms and conditions.
What investment options are available in the Delek US Holdings 401(k) plan?
The 401(k) plan at Delek US Holdings offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to diversify their portfolios.
How often can employees change their contribution amounts to the Delek US Holdings 401(k) plan?
Employees of Delek US Holdings can change their contribution amounts to the 401(k) plan on a quarterly basis, or as specified in the plan documents.
Is there a vesting schedule for the employer match in the Delek US Holdings 401(k) plan?
Yes, Delek US Holdings has a vesting schedule for the employer match, which determines how much of the matched contributions employees are entitled to based on their length of service.
What happens to the 401(k) plan if an employee leaves Delek US Holdings?
If an employee leaves Delek US Holdings, they have several options for their 401(k) savings, including rolling it over to another retirement account or cashing it out, subject to taxes and penalties.
Can employees of Delek US Holdings access their 401(k) funds while still employed?
Employees of Delek US Holdings may be able to access their 401(k) funds through hardship withdrawals, depending on the circumstances and the plan’s rules.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Delek US Holdings offers a 401(k) plan for its employees with several features aimed at enhancing retirement savings. Employees are eligible for the company 401(k) plan, which allows them to make pre-tax contributions from their salary. The contribution limits follow the IRS guidelines, which increased to $22,500 for 2023 and $23,000 for 2024. Delek provides a matching contribution up to a specific percentage, although details on the precise matching percentage for 2022-2024 were not readily available. Their 401(k) plan is known to include options for traditional and Roth 401(k) contributions, giving employees flexibility in how they save for retirement. Employees are typically eligible for this plan from the start of employment (SEC.gov) (SEC.gov).
For pensions, Delek US Holdings does not offer a traditional defined benefit pension plan to all employees but focuses on their defined contribution 401(k) plan instead. This structure is more common in modern corporate retirement offerings, especially in the refining and logistics sectors. Their focus is on matching contributions and enhancing the overall retirement package through the 401(k) system
Delek US Holdings Restructuring and Layoffs: In early 2024, Delek US Holdings announced a significant restructuring initiative aimed at streamlining its operations. This move includes a reduction in workforce by approximately 10% across its various divisions. The company stated that these layoffs are part of a broader effort to enhance operational efficiency and align with its strategic goals in a challenging economic environment. Importance: Given the current economic uncertainties, such as fluctuating oil prices and geopolitical tensions, it is crucial for employees and stakeholders to stay informed about these changes. The restructuring could impact job security, benefits, and future company performance, making it essential to monitor how these developments unfold.
Delek US Holdings offers a range of stock options and Restricted Stock Units (RSUs) through its long-term incentive plans, primarily focused on motivating key employees and aligning their interests with shareholders. These awards are part of the company’s broader equity incentive plan, which was initially approved in 2017 and updated in 2018.
The RSUs and stock options are granted under the Delek US Holdings Equity Incentive Plan and are designed to promote long-term commitment and performance. In 2022, 2023, and 2024, eligible employees received these awards based on their role and performance, with awards vesting over a period of four years. The stock options are tied to the company’s Class A common stock, while performance share units (PSUs) and performance units (PUs) are aligned with total shareholder return (TSR) relative to industry peers.
Health Benefits Overview: Delek US Holdings’ official website provides a broad overview of their benefits package. Key elements often include medical, dental, and vision insurance, health savings accounts (HSAs), flexible spending accounts (FSAs), and wellness programs.
Recent Updates: The website may have recent updates about changes in healthcare plans or enhancements in coverage for 2023 or 2024.
Additional Articles
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For more information you can reach the plan administrator for Delek US Holdings at 7102 Commerce Way Brentwood, TN 37027; or by calling them at (615) 771-6701.
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