Why More Energy Transfer Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Energy Transfer
Energy Transfer employees typically rely on employer-sponsored health insurance plans, which are often managed through major healthcare providers like UnitedHealthcare, BlueCross BlueShield, or Aetna, depending on the specific agreements and market presence in their regions.
Potential Healthcare Cost Increases in 2026
Looking ahead to 2026, Energy Transfer employees may face significant healthcare challenges as premium increases for Affordable Care Act (ACA) plans are projected to surge sharply, with some states reporting hikes of over 60%. The anticipated expiration of enhanced federal premium subsidies is expected to exacerbate this situation, pushing average out-of-pocket premiums up by more than 75% for many individuals. As medical costs continue to rise-driven by increased hospital expenses, specialty drugs, and systemic inflation-Energy Transfer employees should prepare for a substantial shift in their healthcare expenses, making it crucial to evaluate options early and strategically plan for the upcoming changes.
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'Energy Transfer 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.
'Energy Transfer 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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Energy Transfer 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 Energy Transfer 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 Energy Transfer 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 Energy Transfer 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 Energy Transfer.
📞 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 primary purpose of Energy Transfer's 401(k) Savings Plan?
The primary purpose of Energy Transfer's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.
How can I enroll in Energy Transfer's 401(k) Savings Plan?
Employees can enroll in Energy Transfer's 401(k) Savings Plan by completing the enrollment process through the company's benefits portal or by contacting the HR department for assistance.
Does Energy Transfer offer a company match for contributions to the 401(k) Savings Plan?
Yes, Energy Transfer offers a company match for employee contributions to the 401(k) Savings Plan, which enhances the overall retirement savings for employees.
What types of investment options are available in Energy Transfer's 401(k) Savings Plan?
Energy Transfer's 401(k) Savings Plan typically offers a variety of investment options, including mutual funds, target-date funds, and company stock, allowing employees to diversify their portfolios.
Can I change my contribution amount to Energy Transfer's 401(k) Savings Plan at any time?
Yes, employees can change their contribution amount to Energy Transfer's 401(k) Savings Plan at any time, subject to any plan-specific guidelines.
What is the vesting schedule for the company match in Energy Transfer's 401(k) Savings Plan?
The vesting schedule for the company match in Energy Transfer's 401(k) Savings Plan may vary, but typically employees become fully vested after a certain number of years of service.
Are there any fees associated with Energy Transfer's 401(k) Savings Plan?
Yes, there may be administrative fees and investment-related fees associated with Energy Transfer's 401(k) Savings Plan, which are disclosed in the plan documents.
How can I access my account information for Energy Transfer's 401(k) Savings Plan?
Employees can access their account information for Energy Transfer's 401(k) Savings Plan through the plan's online portal or by contacting the plan administrator.
What happens to my 401(k) Savings Plan account if I leave Energy Transfer?
If you leave Energy Transfer, you have several options for your 401(k) Savings Plan account, including rolling it over to another retirement account, cashing it out, or leaving it in the plan if permitted.
Can I take a loan from my 401(k) Savings Plan at Energy Transfer?
Yes, Energy Transfer's 401(k) Savings Plan may allow employees to take loans against their account balance, subject to specific terms and conditions.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Energy Transfer offers a 401(k) plan with company match and discretionary profit-sharing contributions. The plan includes various investment options and financial planning resources.
Energy Transfer offers RSUs to its executives and key employees. RSUs vest over multiple years, aligning employee interests with long-term company goals.
For more information you can reach the plan administrator for Energy Transfer at 8111 Westchester Dr Dallas, TX 75225; or by calling them at (214) 981-0700.
Further Information for Energy Transfer* Employees
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