Why More Moody's Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Moody's:
Moody's Corporation itself is primarily a financial services company known for its analytical and credit rating services. It does not operate as a healthcare provider. However, within the healthcare sector, it analyzes health insurers and hospital systems, assessing their financial viability and operational performance.
Healthcare Cost Increases in 2026:
In 2026, healthcare costs are projected to soar, driven by several interlinked factors. A significant sunset of enhanced Affordable Care Act (ACA) subsidies could lead to out-of-pocket premiums skyrocketing by over 75% for many consumers. Compounding this, record-breaking requests for premium increases -with some states reporting hikes of over 60% -reveal an industry grappling with heightened medical expenses and operational pressures. Insurers, even with reported profits exceeding $31 billion, face the reality that escalating rates and diminishing financial support threaten the affordability of healthcare coverage for millions moving forward.
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'Moody's 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.
'Moody's 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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Moody's 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 Moody's 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 Moody's 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 Moody's 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 Moody's.
📞 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 Moody's offer to its employees?
Moody's offers a 401(k) savings plan to help employees save for retirement.
How can employees enroll in Moody's 401(k) plan?
Employees can enroll in Moody's 401(k) plan through the company's benefits portal during the enrollment period.
Does Moody's match employee contributions to the 401(k) plan?
Yes, Moody's provides a matching contribution to employee 401(k) accounts, subject to certain limits.
What is the maximum contribution limit for Moody's 401(k) plan?
The maximum contribution limit for Moody's 401(k) plan is in line with IRS guidelines, which can change annually.
Can employees at Moody's take loans against their 401(k) savings?
Yes, Moody's allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.
What investment options are available in Moody's 401(k) plan?
Moody's 401(k) plan offers a variety of investment options, including mutual funds and target-date funds.
How often can employees change their contribution amounts in Moody's 401(k) plan?
Employees can change their contribution amounts to Moody's 401(k) plan at any time, subject to plan rules.
What happens to my 401(k) savings if I leave Moody's?
If you leave Moody's, you can roll over your 401(k) savings into another qualified retirement account or leave it in the plan, depending on the balance.
Is there a vesting schedule for Moody's 401(k) matching contributions?
Yes, Moody's has a vesting schedule for matching contributions, which determines when employees fully own those funds.
Can employees at Moody's access their 401(k) savings before retirement?
Employees at Moody's may access their 401(k) savings before retirement under certain circumstances, such as financial hardship.
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: Moody's does not appear to have a traditional defined benefit pension plan but instead offers a 401(k) plan.
Years of Service and Age Qualification: Specific details on years of service and age qualifications may not be applicable as there is no traditional pension plan.
Pension Formula: Not applicable.
Who Qualifies: Employees are typically eligible for benefits under the 401(k) plan rather than a pension plan.
Name of Plan: Moody’s 401(k) Retirement Plan.
Who Qualifies: Employees who meet the eligibility requirements can participate. Typically, full-time employees are eligible to participate in the 401(k) plan.
Contribution Details: Employees can contribute a percentage of their salary, and Moody’s may offer a matching contribution.
Restructuring and Layoffs: Moody's Corporation announced a significant restructuring initiative in early 2023 aimed at streamlining operations and reducing costs. This restructuring included the elimination of several positions across various departments. The decision was driven by a need to enhance operational efficiency and adapt to changing market conditions. The layoffs affected both senior and junior roles, emphasizing the company's strategic shift towards more agile and streamlined operations.
Company Filings: Look at Moody’s annual reports (10-K) and quarterly reports (10-Q) filed with the SEC. These documents often contain detailed information on stock options and RSUs.
Investor Relations: Visit Moody’s Investor Relations website. They usually provide access to annual reports, earnings releases, and proxy statements that include details about compensation packages.
Financial News Websites: Sites like Bloomberg, Yahoo Finance, or Reuters may have articles or reports about Moody’s compensation practices and stock options.
SEC EDGAR Database: Search for Moody’s filings in the EDGAR database for detailed financial and compensation information.
2023 Adjustments: Moody’s made adjustments to their healthcare plans in 2023 to offer more flexible options, including increased contributions to HSAs and expanded telemedicine services.
2024 Initiatives: For 2024, Moody’s has introduced new wellness programs and enhanced mental health support as part of their benefits package. This includes expanded access to counseling and mental health resources.
General Trends: Moody’s is aligning with broader trends in the industry towards more flexible and employee-centric healthcare solutions, emphasizing mental health and preventive care.
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