Why More Synopsys Employees Are Considering Social Security Early — And How Medicare Changes Play a Role
Healthcare Provider Update: Healthcare Provider for Synopsys
Synopsys currently offers healthcare benefits through various providers, with the specific details subject to change based on employer offerings. Typically, large employers like Synopsys partner with well-known insurance companies such as Anthem Blue Cross, UnitedHealthcare, or Kaiser Permanente, providing a range of options for employees to choose from.
Potential Healthcare Cost Increases for Synopsys in 2026
In 2026, healthcare costs are anticipated to see significant increases, particularly in the context of the Affordable Care Act (ACA). Insurers are projecting premium hikes averaging 18%, with some states facing dramatic increases exceeding 60%. This surge can largely be attributed to the potential expiration of enhanced federal premium subsidies, which, if not extended, may leave over 22 million enrollees vulnerable to out-of-pocket premium increases of more than 75%. As a result, employees at companies like Synopsys could experience notable changes to their healthcare costs, necessitating strategic planning for 2025 to mitigate future financial impacts.
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'Synopsys 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.
'Synopsys 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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Synopsys 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 Synopsys 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 Synopsys 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 Synopsys 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 Synopsys.
📞 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 Synopsys?
The primary purpose of the 401(k) plan offered by Synopsys is to help employees save for retirement by allowing them to contribute a portion of their salary on a tax-deferred basis.
How can employees at Synopsys enroll in the 401(k) plan?
Employees at Synopsys can enroll in the 401(k) plan by logging into the company’s benefits portal and following the enrollment instructions provided there.
Does Synopsys offer a matching contribution for its 401(k) plan?
Yes, Synopsys offers a matching contribution for its 401(k) plan, which helps employees maximize their retirement savings.
What types of investment options are available in Synopsys' 401(k) plan?
Synopsys' 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
Can Synopsys employees take loans against their 401(k) savings?
Yes, Synopsys employees may have the option to take loans against their 401(k) savings, subject to the plan's specific terms and conditions.
What is the vesting schedule for Synopsys' 401(k) matching contributions?
The vesting schedule for Synopsys' 401(k) matching contributions typically follows a standard schedule, which may vary based on the length of employment; employees should refer to the plan documents for specific details.
Are there any fees associated with managing the 401(k) plan at Synopsys?
Yes, there may be fees associated with managing the 401(k) plan at Synopsys, which can include administrative fees and investment management fees; employees can find detailed information in the plan's fee disclosure documents.
How often can Synopsys employees change their contribution amounts to the 401(k) plan?
Synopsys employees can typically change their contribution amounts to the 401(k) plan at any time during the year, subject to the plan's guidelines.
What happens to my 401(k) savings if I leave Synopsys?
If you leave Synopsys, you have several options for your 401(k) savings, including rolling it over to another qualified plan, cashing it out, or leaving it in the Synopsys plan if permitted.
Is there an automatic enrollment feature in the Synopsys 401(k) plan?
Yes, Synopsys may offer an automatic enrollment feature for its 401(k) plan, where eligible employees are automatically enrolled unless they choose to opt out.
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