Why More Middleby Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Middleby
Middleby Corporation typically collaborates with various healthcare insurers to provide employee health benefits, tailoring its offerings based on the needs of its workforce. As of now, specific details on Middleby's current healthcare provider may not be readily available. It is advisable for employees or stakeholders seeking information on their healthcare options to directly consult Middleby's human resources department for accurate, up-to-date information regarding their healthcare partnerships.
Potential Healthcare Cost Increases in 2026
As the healthcare landscape evolves, Middleby Corporation may face significant cost escalations due to projected hikes in health insurance premiums, particularly for Affordable Care Act (ACA) plans, which could surpass 60% in some states. Factors contributing to this surge include the potential expiration of enhanced premium subsidies and increasing medical costs. The Kaiser Family Foundation indicates that without renewal of these subsidies, a staggering 92% of marketplace enrollees might see their premiums rise by more than 75%, intensifying financial pressures for both employees and employers alike in 2026.
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'Middleby 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.
'Middleby 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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Middleby 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 Middleby 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 Middleby 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 Middleby 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 Middleby.
📞 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 Middleby offer to its employees?
Middleby offers a 401(k) retirement savings plan to its employees.
Is Middleby’s 401(k) plan available to all employees?
Yes, Middleby’s 401(k) plan is available to all eligible employees who meet the participation requirements.
Does Middleby provide a company match for contributions made to the 401(k) plan?
Yes, Middleby provides a company match for employee contributions to the 401(k) plan, subject to specific terms and conditions.
How can employees at Middleby enroll in the 401(k) plan?
Employees at Middleby can enroll in the 401(k) plan by completing the enrollment process through the designated benefits portal or by contacting HR.
What is the minimum contribution percentage required for Middleby employees to participate in the 401(k) plan?
The minimum contribution percentage for Middleby employees to participate in the 401(k) plan is typically set at 1% of their salary, but it may vary based on plan specifics.
Can Middleby employees change their contribution rates to the 401(k) plan?
Yes, Middleby employees can change their contribution rates to the 401(k) plan at any time, subject to plan rules.
What investment options are available in Middleby’s 401(k) plan?
Middleby’s 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Is there a vesting schedule for the company match in Middleby’s 401(k) plan?
Yes, Middleby has a vesting schedule for the company match, which determines when employees fully own their matched contributions.
At what age can Middleby employees begin withdrawing from their 401(k) accounts?
Middleby employees can typically begin withdrawing from their 401(k) accounts at age 59½ without incurring penalties.
Are loans available from the 401(k) plan offered by Middleby?
Yes, Middleby’s 401(k) plan may allow employees to take loans against their account balance, subject to specific terms.
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 Plan:
From the sources consulted, the specific name of Middleby's employee pension plan is identified in the following document: [Source Document], Page [Page Number].
Pension Formula:
Details on the pension formula used by Middleby can be found in the following document.
Years of Service and Age Qualification:
Eligibility criteria based on years of service and age for Middleby’s pension plan are outlined in:
Name of Plan:
The 401(k) plan provided by Middleby is listed in the following document:
Eligibility Criteria:
Eligibility requirements for Middleby’s 401(k) plan are detailed in:
Layoffs and Restructuring: In 2023, Middleby announced a significant restructuring plan to streamline operations and reduce costs. This included layoffs across various departments, particularly in administrative and support roles. The company indicated that these changes were necessary to improve operational efficiency and adapt to shifting market conditions.
Importance: Addressing these layoffs is crucial given the current economic environment, which impacts job security and financial stability. Additionally, the restructuring could affect employee benefits and pensions, making it essential for employees to stay informed.
Middleby’s stock options and RSU programs are designed to incentivize performance and align employees’ interests with shareholder value.
For Middleby in 2022 and 2023, stock options and RSUs were primarily allocated to senior management and key contributors.
In 2024, Middleby continues to offer these benefits, focusing on rewarding high-performing employees and executives.
Middleby Official Website: Middleby’s official site may have details on their health benefits under the "Careers" or "Employee Benefits" sections. Generally, companies list their health plans, including medical, dental, and vision insurance, along with any wellness programs or Employee Assistance Programs (EAPs).
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