So... you’re turning 65?
Whether you want to retire or continue to work, there are some important benefits considerations you should be aware of as you move forward.
- First and foremost: talk to your Benefits Advocate to understand your options for medical, financial, and other benefits. Find out if your current elections still fit your needs in what comes next in your life. Reach out to a Radiology Partners Benefits Advocates via email at radiologypartners@alliant.com or call: (925) 378-6808, 7:00 am – 5:00 pm PT, Mon – Fri.
- If you need help discussing your Medicare options, the Alliant Medicare Solutions team is also here to help. They offer a concierge approach to Medicare and have Licensed Insurance Agents who can guide you, discuss your options, and ensure you make the right choices for your needs. To speak to an Agent, call (866) 279-3195.
- If you are receiving Social Security benefits, you are generally automatically enrolled in Medicare Parts A the month of your 65th birthday. If not, you can enroll in Medicare or delay enrollment (if you are actively working or are on your spouse’s active insurance plan) until a later date. Check out your options at medicare.gov
- If you are enrolled in the HDHP HSA 2500 medical plan and are also enrolled in Medicare, you can no longer contribute to your HSA, or receive Radiology Partners contributions to your account. If you are not enrolled in Medicare, you can continue to contribute to an HSA after age 65. Regardless, your HSA funds are yours to keep and you may continue using them for qualified healthcare expenses.
- Upon turning 65, you may withdraw HSA funds from your account for non-qualified expenses, without penalty. Please note that HSA withdrawals for non-qualified expenses are subject to regular income tax.
- Make sure all your beneficiary elections and their information are current and up to date. For example, review your beneficiaries for Life Insurance or other voluntary benefits on UKG. To manage your 401(k) account, go to workplace.schwab.com.
- Review and understand your life insurance policy reduction schedule based on reaching a certain age.
Expecting a New Addition to the Family?
Welcoming a new baby is exciting, but can be overwhelming. Our goal is to make the benefits piece of the puzzle as simple as possible, so you can worry less about that and focus more on your growing family.
Here are some ideas and tips you may want to look into:
- Learn how Short-Term Disability benefits can help you during your pregnancy and after childbirth (maternity leave is included).
- Get more information about different types of leaves and learn about all the options available to you.
- Having a baby or adopting a baby/child is a qualifying life event and you can make changes to your benefit elections within 30 days from the date of the event. Benefits that are eligible for change include medical, dental, vision, FSAs, HSA, and life insurance. Your child’s coverage will be effective date of birth or adoption. To complete your life event, please enroll in UKG.
- Think about reviewing your Flexible Spending Account (FSA) and/or Health Savings Account (HSA) elections for eligible expenses, and possibly consider increasing your contributions to help with out-of-pocket costs.
- Look into a Dependent Care Flexible Spending Account (DCFSA): if you already have one, you may want to adjust your election once your child arrives. If you don’t have a DCFSA, you may want to make a new mid-year election to help cover childcare costs.
Getting Married?
Now that you’re getting married, your needs and wants may change, so we want to make sure you have all you need to set yourself – and your spouse – up with the right benefits coverage for your life together.
Getting married is a qualifying life event that allows you to make changes to your benefits within 30 days of the date of the event. To help you and your spouse find the answers to what benefits will best fit your needs, here are some questions to guide your thinking:
You can change your selections, enroll your spouse as an eligible dependent, or keep your current elections.
You may want to consider increasing your current contributions, or start making new ones, if you aren’t already enrolled. Check the HSA or FSA pages for more information.
You may want to increase your coverage, or enroll your spouse. Keep in mind that to add/increase coverage, proof of good health – Evidence Of Insurability (EOI) – may be required. Learn more here.
Check your beneficiaries and make sure their personal information is up to date. You can review or update your beneficiaries on UKG Prime. To manage your 401(k) beneficiaries, go to workplace.schwab.com.
Whether you’ll have a new home, car, or even a new pet, consider getting the insurance that will offer you the most peace of mind. Check out the voluntary benefit options that are available to you.
Getting Divorced or Legally Separated?
Divorce or separation can be a difficult change and you may have to make several decisions.
Divorce or legal separation are qualifying life events that allow you to make changes to your benefits (i.e, remove your spouse, etc.) within 30 days of the date of the event. One step at a time, we want to help and provide guidance to make this life event as simple as possible.
Consider getting legal and financial advice
The MetLife® Legal Plan offers you access to a nationwide network of 14,000 experienced attorneys you can count on, so you can save stress, time and money when it comes to legal matters.
Make sure you have all the support you need
Your Employee Assistance Program (EAP) by Modern Health/Workplace Options is there for you when you need to cope with life challenges, whether they’re personal, financial, work-related, or your day-to-day. Keep in mind, support is available at no-cost to you, 24/7, and it’s 100% confidential. Learn more here.
Reconsider your benefits elections
Whether it’s health care coverage, life insurance, or beneficiaries, make sure you update your coverage, dependents, and beneficiaries. To change your benefit elections log into UKG.
Update your personal information
If you need to make changes such as your name, address, emergency contacts or tax withholding preferences, please email hr@radpartners.com.
Child Turning 26?
If this seems like a lot, we get it. But you’ve got help!
While this transition is very natural, when it comes to your benefits, there are some implications that you need to consider.
- Once your child(ren) turns 26, they no longer qualify as an eligible dependent and you may no longer cover them under your plan. Coverage (for medical, dental, and vision) terminates at the end of the month in which the child turns 26.
- Loss of coverage to your child(ren) is a qualifying life event and provides a 30 day window from the date that coverage ends for them to enroll in new benefits in other group coverage or via COBRA.
- You can guide their benefits choice while you also review yours! Consider what your medical, dental, and vision needs will be, moving forward. How much coverage do you need, do you have any upcoming surgeries, or how often do you go to the doctor’s office?
