Anyone know if Elevance is considering buyouts, such as done by UHC? This might tempt some to take early retirement.
20 replies (most recent on top)
The “Phased Retirement” is not what it appears. It’s a way for your manager to find out you are considering retirement without them having to ask (asking is illegal). They then tell you business need does not allow you to do the phased retirement, but now they can play the waiting game with you, knowing you will be leaving soon and they don’t have to RIF you and pay SUB.
To OP - @17v+1jmg9chke here...all good. Appreciate the elaboration. Much of my frustration came from seeing the thread title and thinking "maybe there's actually a chance of opting out of this place under favorable conditions," only to find a question. Felt like clickbait or someone who has no clue how to post in an online forum.
Unfortunately, as @187+1jmg9chke and others have pointed out, they tried buyouts before and got burned...it's much easier to simply RIF, rebadge or make life miserable for associates until they quit on their own.
In 20++ years, I only know of it being done once, around 2017-2018. It was during the time that all IT jobs were going to IT cities (mainly Atlanta, there were a couple of others including Indianapolis). It was open to folks that qualified for retirement at that time (55 yrs old 10+ yrs of service). If you accepted/signed up for this you could not change your mind. However, prior to those folks retiring, Mason, OH was made an IT city and those folks in Mason who accepted/signed up for it were allowed to change their minds.
As I recall it was 9 months severance (or whatever it was called) plus outplacement services.
I agree with what another poster in this thread said - they will not offer again as they want to somewhat control who leaves when.
@js+1jmg9chke OP here. Thank you for your criticisms and accusations. I suppose I could have put a “?” in the title of the thread, and apologize for any confusion it may have caused you or anyone else. It was posted soon after UHC announced the buyouts, so it wasn’t intended to be clickbait.
As for my understanding of the English language, I think I’m good in that department. I hope this clears up any misunderstandings or unintended confusion.
They have a posted policy on phased retirement - they never allow it due to "business need"- it is total BS - I know at least 5 people who asked to use it and were denied due to stated "business need" its a "look good" and nothing more -
Short answer - No. They'd lose people that they can't afford to and that experience may not be able to transition resulting in existing processes/projects falling off. If they did, sounds like free money.
"Why are you disparaging janitor"
How is a legit question disparaging? They don't speak English 🕵️
They'd be off the board if we could get a definitive answer on Felicia's job duties.
In 2017 there was an early retirement offered to those eligible based on certain criteria. I don’t think this will ever be done again since a lot of knowledge was lost - more folks chose to retire than the company anticipated. The Reduction In Force will allow the company to (surgically) reduce workforce making sure those deemed critical will not be lost (it’s the hope anyway).
Very misleading thread title. Stating something like it's a fact in the title when you're asking a question about the same.
Imagine creating a thread "Elevance going out of business" with the text being "is Elevance going out of business?"
Smells like clickbait -- or someone not clear on how the English language works.
Wish they would-
Are the janitors even legal? Don't know about a lot of them (Indy)
And can anyone define Felicia's job duties? DOGE needs to come have a chat with her.
The company always seems to follow suit with what UHG is doing. Fingers crossed.
This company would never offer buyouts
No minimum. Because there’s no buyouts. Just troll fodder.
What's the minimum age requirement?
"No post is Anonymous!!!"
Funny that your post is noted as coming from "Anonymous".
Sorry folks, you work for a cartel. If you want better, you will have to leave.
No post is Anonymous!!!
This company is not going to give you such opportunity- either RIF or rebadge or you get frustrated and leave on your own
Why are you disparaging janitors?
Even if they do, it would be for E16 and higher. For anyone else FTEs E15 and below, kick out or RIF in other words or rebadge them
We are lesser than the janitors
Wait !!! actually the janitors are better placed than us