Why More Global Payments Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Global Payments
Global Payments, a prominent payment technology and software solutions provider, collaborates with various insurance providers to offer healthcare benefits to its employees. While specific healthcare providers may vary by region and plan, large insurers like Anthem and UnitedHealthcare are commonly associated with companies of this size, offering employer-sponsored health coverage options.
Potential Healthcare Cost Increases in 2026
As we look toward 2026, employees of Global Payments may face significant increases in healthcare costs. A projected wave of premium hikes could see rates exceed 60% in some states, severely impacting out-of-pocket expenses. With many employers eyeing strategies to offset rising expenses, such as increasing deductibles and out-of-pocket maximums, employees must prepare for a potential financial strain. A recent study indicates that over 51% of large companies plan to shift more healthcare costs onto their workforce, coupled with the expiration of enhanced federal subsidies, which might ultimately leave employees with thousands in additional costs for same or lesser coverage. Careful planning and early decision-making regarding benefits will be crucial for navigating these changes effectively.
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'Global Payments 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.
'Global Payments 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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Global Payments 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 Global Payments 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 Global Payments 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 Global Payments 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 Global Payments.
📞 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 savings plan does Global Payments offer to its employees?
Global Payments offers a 401(k) retirement savings plan to help employees save for their future.
Does Global Payments match employee contributions to the 401(k) plan?
Yes, Global Payments provides a matching contribution to employee 401(k) accounts, subject to certain terms and conditions.
What is the eligibility requirement for Global Payments employees to participate in the 401(k) plan?
Employees of Global Payments are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.
Can Global Payments employees choose how their 401(k) contributions are invested?
Yes, Global Payments employees can choose from a variety of investment options within the 401(k) plan to align with their personal financial goals.
What is the maximum contribution limit for the Global Payments 401(k) plan?
The maximum contribution limit for the Global Payments 401(k) plan is subject to IRS annual limits, which can change each year.
How often can Global Payments employees change their contribution amounts to the 401(k) plan?
Global Payments employees can typically change their contribution amounts at any time, allowing for flexibility in their savings strategy.
Does Global Payments allow for loans against the 401(k) plan?
Yes, Global Payments may allow employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.
What happens to my Global Payments 401(k) if I leave the company?
If you leave Global Payments, you can choose to roll over your 401(k) balance to another retirement account, leave it in the plan, or withdraw it, subject to tax implications.
Is there a vesting schedule for the Global Payments 401(k) matching contributions?
Yes, Global Payments has a vesting schedule for matching contributions, which means you earn rights to the employer match over time.
Can I access my Global Payments 401(k) funds before retirement?
While accessing your Global Payments 401(k) funds before retirement is generally discouraged, there are certain circumstances, such as financial hardship, that may allow for early withdrawals.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Pension Plan Information:
Name of Pension Plan: Global Payments does not offer a traditional defined benefit pension plan as of the latest information. Instead, their retirement benefits are provided through a defined contribution plan.
Years of Service and Age Qualification: Since there is no traditional pension plan, there are no specific years of service or age qualifications for a pension plan.
Pension Formula: Not applicable due to the absence of a defined benefit pension plan.
Source: Information about the absence of a traditional pension plan is available in the Global Payments 2023 Form 10-K, page 51.
401(k) Plan Information:
Name of 401(k) Plan: Global Payments 401(k) Plan
Qualification for 401(k) Plan: Employees are eligible to participate in the Global Payments 401(k) Plan after completing 30 days of service.
401(k) Plan Features:
Contribution Limits: Employees can contribute up to the IRS annual limit.
Company Match: Global Payments matches employee contributions up to a certain percentage, typically a percentage of the employee's salary.
Restructuring & Layoffs: In early 2024, Global Payments announced a restructuring plan aimed at streamlining operations and reducing costs. This move included the layoff of approximately 5% of its workforce, primarily affecting roles in administrative and support functions. The company cited the need to adapt to shifting market conditions and enhance operational efficiency as the primary reasons for this decision.
Benefit Changes: Alongside the restructuring, Global Payments updated its employee benefits package. Changes included adjustments to healthcare plans and a reduction in retirement benefits contributions. The company stated that these modifications were necessary to maintain competitive positioning and financial stability in the face of economic uncertainties and evolving market dynamics.
Search for stock option and RSU information on Global Payments for 2022, 2023, and 2024:
Look for annual reports, financial statements, and SEC filings.
Identify the acronyms used for stock options and RSUs.
Note who is eligible to receive stock options and RSUs at Global Payments.
Document the source and page number of the information:
Record the URL and specific page number from the documents where the information is located.
Summarize the findings:
Check Global Payments’ official website for the most accurate and detailed information on their health benefits.
Corporate Benefits Pages: Look for specific pages dedicated to employee benefits or healthcare plans on the company's site.
News Websites: Search for recent news articles related to Global Payments' healthcare benefits or changes to their employee health plans.
Industry Reports: Review industry reports or analysis for any insights into Global Payments' health benefits strategy.
Employee Reviews and Forums: Check sites like Glassdoor or Indeed for employee feedback on the company's health benefits.
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