'Hillenbrand 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.
New Update: Rising Oil Costs are Affecting Retirement Plans. Will you be impacted?
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Why More Hillenbrand Employees Are Considering Social Security Early  And How Medicare Changes Play a Role
November 11, 2025
How Oil Volatility Affects Your Hillenbrand Retirement
Energy market instability persists, with crude prices fluctuating between $50 and $120 per barrel and annualized volatility running around 80%. The effects reach well beyond the energy sector. Oil price instability feeds into the broader economic environment through transportation costs, manufacturing inputs, and consumer spending power. For Hillenbrand employees building long-term financial plans, this means that seemingly unrelated decisions, from 401(k) fund selection to the timing of major purchases, can be influenced by energy market conditions. Comprehensive financial planning at Hillenbrand benefits from understanding how energy price volatility creates indirect effects on inflation, interest rates, and portfolio valuations that affect long-term wealth building. A financial advisor can help you build strategies that maintain progress toward retirement goals through periods of energy-driven economic turbulence.
Energy market instability persists, with crude prices fluctuating between $50 and $120 per barrel and annualized volatility running around 80%. The effects reach well beyond the energy sector. Oil price instability feeds into the broader economic environment through transportation costs, manufacturing inputs, and consumer spending power. For Hillenbrand employees building long-term financial plans, this means that seemingly unrelated decisions, from 401(k) fund selection to the timing of major purchases, can be influenced by energy market conditions. Comprehensive financial planning at Hillenbrand benefits from understanding how energy price volatility creates indirect effects on inflation, interest rates, and portfolio valuations that affect long-term wealth building. A financial advisor can help you build strategies that maintain progress toward retirement goals through periods of energy-driven economic turbulence.
'Hillenbrand 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:
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How Social Security filing age affects retirement income.
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How Medicare expenses factor into when retirees claim benefits.
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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 Hillenbrand 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 Hillenbrand 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 Hillenbrand 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 Hillenbrand 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 Hillenbrand.
📞 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.
Remote-work tax implications add complexity, making it essential to understand how Hillenbrand's benefit programs factor into your overall financial picture. A central element of your benefits is that Hillenbrand maintains an active defined benefit pension plan, meaning eligible employees continue to accrue benefits based on years of service and compensation. If you are eligible for a lump sum payout, IRS Section 417(e) segment rates determine how the future annuity stream converts to a present-value payment - rising rates compress the lump sum, so monitoring the plan's stability period and lookback month is critical before you lock in your election date. The choice between a single-life annuity, a joint-and-survivor option, or a lump sum (where available) is generally irrevocable once made, and timing that decision relative to interest rate conditions can meaningfully affect your retirement income picture.
Regarding medical coverage, Hillenbrand provides continued medical coverage to eligible retirees, which can bridge the gap between retirement and Medicare eligibility at age 65 or serve as a supplement to Medicare thereafter. Confirming the service and age requirements for retiree coverage, and understanding your premium contribution, is an important step in building an accurate healthcare cost projection. Coordinating Hillenbrand's retiree coverage with Medicare Part B and Part D enrollment timing can also reduce duplication and avoid late-enrollment penalties. Understanding how each Hillenbrand benefit interacts with the others inside your retirement plan gives you the confidence to make well-informed decisions.
Sources:
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1. CNBC. ' Does it still make sense to wait to claim Social Security retirement benefits? ' by Lorie Konish. 29 Apr. 2026.
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2. U.S. Bureau of Labor Statistics. ' 15 percent of private industry workers had access to a defined benefit retirement plan ,' 10 Apr. 2026.
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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. 2026.
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Other Resources:
- 1. Social Security Administration. When to Start Receiving Retirement Benefits: Publication No. 05-10147 . May 2026. U.S. Government Publishing Office, Washington D.C.
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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. 2026.
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3. Medicare Payment Advisory Commission. Report to the Congress: Medicare Payment Policy – Chapter 11: The Medicare Advantage Program: Status Report . Mar. 2026, medpac.gov/wp-content/uploads/2026/03/Mar25_Ch11_MedPAC_Report_To_Congress_SEC.pdf.
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4. Board of Trustees, Social Security. 2026 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds . 30 June 2026. U.S. Government Publishing Office, Washington D.C.
What type of retirement savings plan does Hillenbrand offer to its employees?
Hillenbrand offers a 401(k) retirement savings plan to its employees.
How can employees at Hillenbrand enroll in the 401(k) plan?
Employees at Hillenbrand can enroll in the 401(k) plan through the company’s HR portal during the open enrollment period or upon hire.
Does Hillenbrand match employee contributions to the 401(k) plan?
Yes, Hillenbrand offers a matching contribution to employee 401(k) plan contributions, subject to certain limits.
What is the maximum contribution limit for Hillenbrand's 401(k) plan?
The maximum contribution limit for Hillenbrand's 401(k) plan aligns with IRS guidelines, which are updated annually.
Can employees at Hillenbrand take loans against their 401(k) savings?
Yes, Hillenbrand allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.
What investment options are available in Hillenbrand's 401(k) plan?
Hillenbrand's 401(k) plan offers a variety of investment options, including mutual funds and target-date funds.
How often can employees at Hillenbrand change their 401(k) contribution amounts?
Employees at Hillenbrand can change their 401(k) contribution amounts during open enrollment or after a qualifying life event.
Does Hillenbrand provide financial education resources for employees regarding their 401(k)?
Yes, Hillenbrand provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
What happens to my 401(k) plan if I leave Hillenbrand?
If you leave Hillenbrand, you can choose to roll over your 401(k) balance to another qualified plan, cash out, or leave it in the Hillenbrand plan if eligible.
Are there any fees associated with Hillenbrand's 401(k) plan?
Yes, there may be fees associated with managing the 401(k) plan, which are disclosed in the plan documents provided by Hillenbrand.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Name of Pension Plan: Hillenbrand does not appear to offer a traditional defined benefit pension plan. Instead, the company focuses on a 401(k) plan as the primary retirement benefit for employees.
Qualifications (Years of Service and Age): Since Hillenbrand primarily offers a 401(k) plan, detailed qualifications for a traditional pension plan are not applicable. For the 401(k) plan, there are typically vesting schedules and eligibility requirements, but specifics on years of service and age requirements are usually detailed in the plan documentation provided by the company.
401(k) Plan Overview:
Name of 401(k) Plan: Hillenbrand 401(k) Plan
Qualifications (Years of Service and Age): Employees generally become eligible for the Hillenbrand 401(k) Plan upon reaching a certain period of service, which is often outlined in the plan document. Eligibility criteria typically include completing a probationary period, if applicable, and reaching a minimum age (usually 21).
Plan Details: Contributions to the Hillenbrand 401(k) Plan are typically made via payroll deductions. The company may offer matching contributions up to a specified percentage
Restructuring and Layoffs: In 2023, Hillenbrand undertook significant restructuring efforts to streamline its operations and improve efficiency. The company announced a reduction in its workforce as part of these efforts, impacting various departments. This move was aimed at adapting to changing market conditions and enhancing overall performance. It's crucial to follow these developments due to the current economic climate, which may influence investment decisions, tax implications, and political factors that could affect the company's future.
Hillenbrand provided stock options and RSUs as part of their compensation packages for employees in 2022. Employees eligible for these incentives generally include executives and key personnel.
Hillenbrand typically issues stock options and RSUs to attract and retain top talent and align employee interests with shareholder interests.
Hillenbrand’s 2022 annual report (Page 35) details these incentives and eligibility criteria.
Hillenbrand Benefits Overview: The official Hillenbrand website provides a comprehensive overview of their employee benefits. The company typically offers a range of health benefits including medical, dental, and vision insurance. Specific details for 2022-2024 may include plans such as High Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs) and traditional PPO plans.
Healthcare Terms: Common acronyms and terms include HDHP (High Deductible Health Plan), PPO (Preferred Provider Organization), HSA (Health Savings Account), and FSA (Flexible Spending Account
For more information you can reach the plan administrator for Hillenbrand at , ; or by calling them at .
https://www.thelayoff.com/ https://hillenbrand.com/
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