Why More Jacobs Engineering Group Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Jacobs Engineering Group
Jacobs Engineering Group provides health benefits to its employees through various insurance plans, with specific details on healthcare providers not publicly disclosed. However, it is common for large companies like Jacobs to partner with national insurers to offer health insurance coverage, possibly including names like UnitedHealthcare, Anthem, or Aetna.
Potential Healthcare Cost Increases in 2026
As Jacobs Engineering Group approaches 2026, employees should brace for significant healthcare cost increases due to the combination of soaring ACA premiums and evolving employer strategies. A landscape marked by a potential 66% spike in premiums from major insurers in some states, alongside the expiration of federal subsidies, could significantly heighten out-of-pocket costs. Many companies, including Jacobs, are likely to shift more healthcare expenses onto employees through higher deductibles and copays, compounding financial pressure amidst rising medical expenses across the board. Understanding these changes will be crucial for employees looking to navigate their healthcare options effectively.
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'Jacobs Engineering Group 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.
'Jacobs Engineering Group 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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Jacobs Engineering Group 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 Jacobs Engineering Group 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 Jacobs Engineering Group 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 Jacobs Engineering Group 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 Jacobs Engineering Group.
📞 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 Jacobs Engineering Group offer?
Jacobs Engineering Group offers a 401(k) retirement savings plan to help employees save for their future.
Is participation in the 401(k) plan at Jacobs Engineering Group mandatory?
No, participation in the 401(k) plan at Jacobs Engineering Group is voluntary; employees can choose whether or not to enroll.
What is the minimum age requirement to participate in Jacobs Engineering Group's 401(k) plan?
Employees must be at least 21 years old to participate in Jacobs Engineering Group's 401(k) plan.
Does Jacobs Engineering Group offer any matching contributions to the 401(k) plan?
Yes, Jacobs Engineering Group offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the vesting schedule for the matching contributions at Jacobs Engineering Group?
The vesting schedule for matching contributions at Jacobs Engineering Group typically follows a graded schedule over several years, allowing employees to earn ownership of those contributions over time.
Can employees of Jacobs Engineering Group choose how their 401(k) contributions are invested?
Yes, employees of Jacobs Engineering Group can choose from a variety of investment options for their 401(k) contributions, including mutual funds and target-date funds.
What is the contribution limit for the 401(k) plan at Jacobs Engineering Group?
The contribution limit for the 401(k) plan at Jacobs Engineering Group is set by the IRS and may change annually. Employees should check the current limits for the specific year.
Does Jacobs Engineering Group allow employees to take loans against their 401(k) savings?
Yes, Jacobs Engineering Group allows employees to take loans against their 401(k) savings, subject to certain terms and conditions.
What happens to my 401(k) account if I leave Jacobs Engineering Group?
If you leave Jacobs Engineering Group, you have several options for your 401(k) account, including rolling it over to another qualified plan, cashing it out, or leaving it with Jacobs Engineering Group.
How can I access my 401(k) account information at Jacobs Engineering Group?
Employees can access their 401(k) account information through the designated online portal or by contacting the plan administrator at Jacobs Engineering Group.
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: Jacobs Engineering Group does not seem to have a traditional defined benefit pension plan. Instead, they provide a 401(k) plan with matching contributions.
Years of Service and Age Qualification: Generally, Jacobs Engineering Group’s retirement benefits are based on the 401(k) plan, which does not have specific age or years of service requirements for vesting. Employees are eligible to participate in the 401(k) plan regardless of their years of service or age.
Pension Formula: As Jacobs Engineering Group primarily offers a 401(k) plan rather than a defined benefit pension plan, there is no traditional pension formula applicable.
Name of 401(k) Plan: Jacobs Engineering Group 401(k) Plan
Eligibility: Employees are eligible to participate in the Jacobs Engineering Group 401(k) plan upon hire.
Matching Contributions: Jacobs Engineering Group provides matching contributions to employees' 401(k) accounts. The exact matching formula and contribution limits can be found in the company’s benefits documentation.
Jacobs Engineering Group Announces Workforce Reduction (January 2024): Jacobs Engineering Group has announced a reduction in its workforce as part of a broader restructuring effort to streamline operations and enhance efficiency. The company cited a need to align its resources with evolving market conditions and strategic priorities. This reduction impacts various departments and is part of a larger trend of restructuring seen across the industry. Addressing this news is crucial due to the current economic climate, which is marked by uncertainty and a shifting investment landscape. Understanding these changes can help stakeholders navigate their financial and career planning effectively.
Jacobs Engineering Group (Jacobs) offers stock options and RSUs to its employees. The stock options typically include Company Stock Option Plans (CSOP) and RSUs under the Jacobs RSU Plan. These benefits are available to senior management and key employees.
Health Insurance: Jacobs offers comprehensive health insurance plans, including medical, dental, and vision coverage.
Retirement Plans: 401(k) plans with company match, pension plans.
Paid Time Off: Includes vacation days, sick leave, and personal days.
Other Benefits: Employee Assistance Program (EAP), wellness programs, and flexible work arrangements.
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