Sounds like you will get your chance! I heard rumors of voluntary retirement packages coming soon. Anyone know if this is true? Would it pay out severance too if I was planning on retiring this year anyway?
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Is the severance package any different than a layoff?
What are you saying is inaccurate ?
@152 this is inaccurate
@577 I’m curious what departments were offered the voluntary retirement. I heard marketing, evernorth - pharmacy. Not sales or operations. I am not taking it - but realize it’s a personal decision based on your circumstances.
My husband is taking the retirement package. He said it was too good of an offer. He turns 64 soon and has over 30 yrs in. But he is busier than ever and has clients that he truly has to work extra for and they expect it . He said -I wonder who is going to do all of this for the ones that leave. Backfill some ? Or it get spread out and people left get worked even more. I mean the goal is saving money . He Would love to hear opinions on this. He asked me to ask since he’s so busy with work
Is anyone taking the package??? I am
Why would you never go without insurance?
Can’t you see that it’s near worthless unless something wildly catastrophic happens? And, even then, it’s gonna sink you financially.
We work in the industry. Surely you can see this.
@1yq would never go without insurance. Not concerned but was pleasantly surprised that the way I calculate it the from the subsidized cobra page it is close to what is coming out of paycheck now. It’s not the normal cobra sky high charges. Yes seeking job is priority but won’t go without insurance so prefer paying less until job found.
@1yq if you can’t fully retire, don’t take this offer. Just hanging on as long as possible, in the meantime learn new skills make yourself more valuable
Why is everyone so concerned about having 5 or 6 months worth of reduced cobra coverage?
The real concern is finding another job if you can’t fully retire. You’ll be fine for 6 months even with no insurance.
@1y0 you can reach out to Cigna HR benefits to confirm your calculations right or wrong.
Has anyone who received a letter calculated what their COBRA payment would be during severance period. If I am calculating it correctly , my portion to pay to just a few dollars a pay period more than I pay now for my insurance premium. I was expecting a huge increase in what I would pay but it appears to be truly subsidized well . Just looking for anyone else who looked down on approx the 3rd page that shows subsidized cobra amount during severance period. Thanks . I am pleasantly surprised
@18r It is confirmed that you receive only 50% bonus pro-rated to your term date. Ridiculous!
@14f on about the 3rd page of the cobra document is the subsidized cobra rate that’s titled medical coverage during severance . It’s much less than regular cobra. It’s just slightly more than we pay now
@14k the cobra rates are on IRIS.
@18r someone who was recently layed off got 3 months plus 2 weeks per year and reduced cobra. That is a sweeter deal. End date could be as late as December and bonus is 50%. Should be prorated. Cobra at the same rate that come from my paycheck would be nice.
@151 curious on “incentives not As expected” what additional were you expecting. I have heard of bonus included full year . I know each department different but curious what extra you hoped for
@14f It's really not different. Big build-up about a unique opportunity, but largely results in volunteering for the layoff package. However, it's very likely that layoffs are coming afterward and probably with a reduced package.
@164 people may not have time to stay and “catch up on AI if positions aren’t backfilled and you doing extra work if you stay.. people on the express scripts side are already super busy with the clients they have. The chances of getting all of the benefits of this letter during a later layoff are doubtful
I’d suggest ppl keeping the job instead of taking the VRP. The job market is terrible especially for older ppl without AI knowledge. Take the time at Cigna and catch up with AI in next 3-6 months to improve your chances for the next job if really getting laid off.
@10h received and am Evernorth.
@151 A couple reasons for accepting I can think of are:
You’re close enough to qualify for Medicare and/or you’re just ready to retire
or
you’re certain you can line up another job fairly easily
@14y That's only exempt employees. Non exempt can still carry over 56 hours.
Most of the people I am talking to are saying they do not intend to opt in. I am undecided. I carry benefits for my family. What are your reasons for accepting or declining this offer?
I thought the first offer would be better. The incentives are not as expected.
@14w Effective 1/1/2026:
You can only roll over 24 hours, used to be 56.
You will no longer be able to cash out earned PTO when you leave
@14h What changes are there to PTO in 2026?
@13r HIH is where all the jobs are going. They have to layoff here before they hire over there. Don't let this company fool you. They are on a mission to send as many jobs as they can over to India. It doesn't mater who you are or what you do. Hearing preliminary targets are 7-10k. Do the math. We had massive layoffs this year and they are targeting 3400 to retire early. Don't get too comfortable and think they aren't going to target you. Prepare yourself and good luck.
This has been an awful, discouraging process, to say the least. I was considering taking the VRP offer... Received the email with the Document to sign. They left out all the information I would need to consider this. They provided the severance, which I could calculate based on my years of service. There is no information regarding my bonus payout, no written confirmation that all PTO will be paid out, and no details providing the subsidized Cobra rates. I called the number provided if we had questions 2 times. One time I was on hold for 33-minutes, next time 21-minutes. Mind boggling how this is being presented.
@14c If you get laid off in 2025, are 55+YO and have 5+ years of service I would agree, it is essentially the same offering. Otherwise, the standard offering is markedly worse.
They already changed the PTO rules starting in 2026. Who says they won’t mess with severance weeks and other parameters in the near future.
I honestly do not see how this is any different from standard severance package. The COBRA rates look very high. What is the benefit?
There’s a 2025 Cobra rates pdf. Look under My Career,Pay, and Benefits tab, HR Documents, United States of America, Annual Enrollment
They are really not given any great incentives to leave Your better off getting laid off. Or start looking for a new job
@141 I tried doing the search and call but have no money info for cobra.
@13r Hyderabad Inovation Hub...aka off shore IT
Any idea about the minimum number out of the 3500 who received the VR package they’re trying to hit?
@13w Do a search in Iris for “2025 COBRA Rates”. In that pdf on page 3 you’ll see the retiree rates are generally about 1/3 of the standard rates
I'm not seeing anything on how much we are going to have to pay for our medical coverage.... It says subsidized, but no details in the compensation letter received today. The letter was basic saying this is how much you will get for this many weeks ... That's it.
@13p Your severance would start after your termination date
What is HIH?
So if they will make you stay and work until Dec 31st, is that 21 weeks from your severance?