Why More Incyte Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Offers HSA and HRA plans through Premera, with employer contributions and optional dental/vision coverage 10.
Incytes HSA plan structure aligns well with ACA trends, offering tax-advantaged savings as premiums rise
Click here to learn more
'Incyte 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.
'Incyte 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.
1
And for those with an FRA of 66, the increase if one waits until age 70 is closer to 32%.
1
Incyte 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 Incyte 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 Incyte 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 Incyte 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 Incyte.
📞 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 the 401(k) plan offered by Incyte?
The primary purpose of Incyte's 401(k) plan is to help employees save for retirement by providing a tax-advantaged way to contribute a portion of their salary.
Who is eligible to participate in Incyte's 401(k) plan?
All full-time employees of Incyte are eligible to participate in the 401(k) plan after completing a specified period of service.
What types of contributions can employees make to Incyte's 401(k) plan?
Employees can make pre-tax contributions, Roth (after-tax) contributions, and possibly catch-up contributions if they are over the age of 50 in Incyte's 401(k) plan.
Does Incyte offer any matching contributions to the 401(k) plan?
Yes, Incyte offers a matching contribution to the 401(k) plan, which is designed to encourage employees to save for retirement.
How often can employees change their contribution amounts to Incyte's 401(k) plan?
Employees can change their contribution amounts to Incyte's 401(k) plan at any time, subject to the plan's rules and limits.
What investment options are available in Incyte's 401(k) plan?
Incyte's 401(k) plan typically offers a variety of investment options, including mutual funds, target-date funds, and possibly company stock.
Is there a vesting schedule for Incyte's matching contributions?
Yes, Incyte has a vesting schedule for matching contributions, which means employees must work for a certain period before they fully own the matching funds.
Can employees take loans against their 401(k) balance at Incyte?
Yes, Incyte's 401(k) plan may allow employees to take loans against their account balance, subject to specific terms and conditions.
What happens to my 401(k) account if I leave Incyte?
If you leave Incyte, you have several options for your 401(k) account, including rolling it over to another retirement account, cashing it out, or leaving it with Incyte if the balance meets the minimum requirement.
Are there any fees associated with Incyte's 401(k) plan?
Yes, there may be fees associated with managing Incyte's 401(k) plan, including administrative fees and investment-related fees, which are disclosed in the plan documents.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Company Website: Visit Incyte’s official website, specifically their Investor Relations or Corporate Governance sections. These sections often include annual reports, financial filings, or governance documents.
Annual Reports: Look through Incyte’s annual reports or Form 10-K filings for detailed information on employee benefits. These documents usually provide a section dedicated to employee benefits, including pension plans and 401(k) plans.
SEC Filings: Search Incyte’s SEC filings for detailed disclosures. The Form 10-K and Form 10-Q reports will often include comprehensive information on employee benefit plans.
Employee Handbook or Benefits Guide: Review any publicly available employee handbooks or benefits guides which might outline pension plan qualifications, formulas, and 401(k) plan specifics.
Direct Inquiry: If online resources do not provide sufficient information, consider contacting Incyte’s HR department directly for the most accurate and detailed information.
Restructuring and Layoffs: Incyte announced a strategic restructuring in early 2024 to streamline its operations and focus on key therapeutic areas. This restructuring led to the reduction of approximately 10% of its workforce. The decision was driven by the need to adapt to the evolving economic landscape, including increasing pressure on R&D spending and market competition. This restructuring is crucial to address as it reflects broader industry trends and the impact of economic uncertainties on employment within biotech firms.
Incyte Corporation (INCY) Stock Options and RSUs
Incyte provides its employees with stock options and Restricted Stock Units (RSUs) as part of its compensation package. Stock options allow employees to purchase shares at a set price, whereas RSUs represent shares granted to employees, subject to vesting conditions. For 2022, 2023, and 2024, Incyte has updated its stock options and RSU offerings to align with its growth and performance goals.
Stock Options and RSUs for Incyte Employees
Incyte offers stock options and RSUs primarily to executives, senior management, and high-performing employees. The allocation of these options and RSUs is based on performance, role within the company, and tenure. For the years 2022, 2023, and 2024, specific details about these grants, including vesting schedules and amounts, are detailed in Incyte's annual reports and SEC filings.
Details: Incyte's official website usually includes information on their employee benefits, including healthcare. They typically offer a comprehensive benefits package, including medical, dental, and vision coverage, as well as health savings accounts (HSAs) or flexible spending accounts (FSAs).
/General/General%209.png?width=1280&height=853&name=General%209.png)
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)