Why More Gray Television Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
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'Gray Television 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.
'Gray Television 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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Gray Television 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 Gray Television 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 Gray Television 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 Gray Television 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 Gray Television.
📞 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 Gray Television offer to its employees?
Gray Television offers a 401(k) savings plan to help employees save for retirement.
Does Gray Television match employee contributions to the 401(k) plan?
Yes, Gray Television provides a matching contribution to the 401(k) plan, which enhances employees' retirement savings.
How can employees at Gray Television enroll in the 401(k) plan?
Employees can enroll in the 401(k) plan through the company's HR portal or by contacting the HR department for assistance.
What is the eligibility requirement for Gray Television employees to participate in the 401(k) plan?
Most employees at Gray Television are eligible to participate in the 401(k) plan after completing a specified period of employment, typically 30 days.
Can Gray Television employees choose how their 401(k) contributions are invested?
Yes, employees at Gray Television can choose from a variety of investment options for their 401(k) contributions.
What is the maximum contribution limit for Gray Television employees participating in the 401(k) plan?
The maximum contribution limit for Gray Television employees is subject to IRS regulations, which may change annually.
Does Gray Television offer any financial education resources for employees regarding the 401(k) plan?
Yes, Gray Television provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
Are there any fees associated with managing the 401(k) plan at Gray Television?
Yes, like most 401(k) plans, there may be administrative fees associated with managing the plan at Gray Television.
Can Gray Television employees take loans against their 401(k) savings?
Yes, Gray Television allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.
What happens to a Gray Television employee's 401(k) savings if they leave the company?
If a Gray Television employee leaves the company, they can roll over their 401(k) savings into another retirement account or take a distribution, depending on their preference.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Gray Television Pension Plan
Name of the Plan: Gray Television does not appear to have a traditional defined benefit pension plan as of the latest available reports.
Eligibility: Gray Television primarily offers a 401(k) plan rather than a traditional pension plan.
Pension Formula: Not applicable..
Gray Television 401(k) Plan
Name of the Plan: Gray Television 401(k) Plan.
Eligibility: Employees are eligible to participate in the 401(k) plan after completing 90 days of service.
401(k) Plan Details: The plan includes employer matching contributions up to a certain percentage.
Restructuring and Layoffs: In August 2023, Gray Television announced a restructuring plan to streamline operations and improve efficiency. This included the elimination of certain positions, particularly in non-core areas. The company cited the need to adapt to changing media consumption patterns and economic pressures as key reasons for these changes. The restructuring is part of a broader strategy to enhance profitability and maintain competitive advantage in the evolving media landscape. It is crucial to address this news due to the current economic environment, which may impact job stability and career planning in the media sector.
Changes to Company Benefits and Retirement Plans: In July 2024, Gray Television updated its employee benefits package, which included modifications to its pension and 401(k) plans. The company introduced changes aimed at aligning retirement benefits with industry standards and addressing financial sustainability. These adjustments are part of a broader effort to manage costs and ensure long-term financial health amidst fluctuating market conditions. Employees should stay informed about these changes due to the implications they may have on retirement planning and financial security in the context of ongoing economic uncertainty.
Gray Television (GT) Stock Options and RSUs (2022)
Stock Options: Gray Television (GT) offered stock options to select executives and senior management in 2022. The options were granted as part of the company’s long-term incentive plan to attract and retain top talent.
Restricted Stock Units (RSU): RSUs were granted to executives as well as key employees based on performance and tenure. These units were designed to align the interests of employees with shareholders.
Gray Television (GT) Stock Options and RSUs (2023)
Stock Options: In 2023, Gray Television (GT) continued to provide stock options primarily to senior executives and high-performing employees. These options were part of a revised incentive compensation plan.
Restricted Stock Units (RSU): RSUs were granted to a broader range of employees, including mid-level management, with vesting schedules tied to performance metrics.
Gray Television (GT) Stock Options and RSUs (2024)
Stock Options: The company issued new stock options in 2024 under a refreshed equity incentive program. These options were available mainly to upper management and key contributors.
Restricted Stock Units (RSU): RSUs in 2024 were expanded to include more employees, aiming to foster long-term commitment and reward performance over time.
Health Benefits Information (2022-2024)
1. Gray Television Official Website:
Website: Gray Television Careers
Details: Gray Television offers a variety of health benefits including medical, dental, and vision insurance. Their benefits package typically includes options for both employee and family coverage, with various plan tiers available to cater to different needs.
2. Health Insurance Plans:
Types of Plans: Gray Television provides several health insurance plans which may include Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and High Deductible Health Plans (HDHPs). Specific details about plan costs and coverage options are generally available to employees upon hiring and during open enrollment periods.
3. Employee Benefits Review Websites:
Glassdoor: Employee reviews often mention health benefits in the context of overall compensation. The benefits are generally considered competitive, with particular emphasis on the quality of medical coverage.
Indeed: Similar to Glassdoor, reviews on Indeed highlight that health benefits are a key part of Gray Television’s compensation package. There might be variations in the benefits offered based on job position and location.
Payscale: Offers insights into average salaries and benefits, noting that Gray Television provides standard health insurance options.
LinkedIn: Discussions on LinkedIn sometimes include employee testimonials about the company’s benefits, including healthcare. These reviews typically praise the availability of comprehensive health plans.
Comparably: Provides information on employee satisfaction with health benefits. Gray Television’s benefits are generally rated well compared to industry standards.
4. Recent Healthcare News:
Healthcare Initiatives: Recent updates or changes to health benefits are often tied to broader company policy changes or industry trends. Specific details about recent changes might be less frequently updated in public sources but can be available through employee reviews or official company announcements.
Employee Health Programs: Gray Television may offer wellness programs or health initiatives, such as mental health support or wellness challenges, though specific details might not always be prominently featured.
Healthcare-Related Terms and Acronyms
HMO (Health Maintenance Organization): A type of health insurance plan that requires members to get care from a network of doctors and hospitals.
PPO (Preferred Provider Organization): A plan that offers more flexibility in choosing healthcare providers and does not require referrals for specialists.
HDHP (High Deductible Health Plan): A plan with lower premiums and higher deductibles, often paired with Health Savings Accounts (HSAs).
HSA (Health Savings Account): A tax-advantaged account that can be used to pay for qualified medical expenses, often associated with HDHPs.
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