Just got an internal email about open enrollment for 2021. Buried in the fine print is the following:
PTO payout at termination change
Beginning January 1, 2021, we will no longer pay out PTO upon termination except in the states where it is required by law: California, Illinois, Louisiana, Massachusetts, Montana, North Dakota, and Rhode Island.
25 replies (most recent on top)
Moderators delete everything, so what’s the point
Why no new posts? Is Anthem now perfect?
The way Anthem treats their employees, their needs to be a union brought in asap to deal with anthem GREED.
That has been the case for a long time period I was RIFd, but allowed to take the time off before my final day.
I believe that if you leave the company for any reason after 1/1/2021 they will NOT payout any unused PTO. Definition of termination from Investopedia: “Termination may be voluntary, as when a worker leaves of their own accord, or involuntary, in the case of a company downsize or layoff, or if an employee is fired.” The only PTO payouts will be when required by an individual state law as noted in another post. Do not leave PTO on the table if you leave after 1/1/2021.
If you get FIRED that is different from a RIF... If you screw up your job enough to where the company does not want you any more NO YOU DO NOT DESERVE YOUR PTO that is a benefit. If you are RIF'ed the company will pay you.
To save you all time poking up, websites notes: As President and Chief Executive Officer (CEO) at Anthem, Inc., Gail K. Boudreaux made $15,473,139 in total compensation
This too - BCBSTX $2.7 billion, in an antitrust class-action lawsuit
https://finance.yahoo.com/news/blue-cross-blue-shields-2-100918188.html
"The BCBS includes publicly listed insurance companies like Anthem Inc (NYSE: ANTM) and Triple-S Management Corp (NYSE: GTS)."
"Separately, the consortium of insurance companies are facing a parallel lawsuit from healthcare providers alleging malpractices, where insurers illegally pushed down the payments they receive for medical services, according to Reuters."
What a bunch of crooks.
Regarding the first post's response 'You will be sickened by what you read', if you don't get corporate reports, some of the executive compensation is available online for public companies. Check out this site and enter the company name - https://www.salary.com/personal/executive-salaries/
I watched the short video made by HR regarding our employer provided health insurance options for 2021 today from link in the Pulse article. Did anyone besides me notice how red the lady's neck was that was sitting on the left in the video (the first lady that spoke on the video)? Was she sunburned on her neck or was she turning red from the embarrassment of lying about how GREAT the insurance options are for 2021? They should have put the makeup on her face and her neck.
I have one of the insurance plans that is being dropped, and I agree with the earlier response. They have made the new plan rules so complicated, we won't be able to know what our out of pocket will be in 2021 to be able to make a good decision on another plan. It seems they are now trying even harder to drive out employees so they don't have to pay out severance over the next several rifs.
Correction. An extra paid holiday next year. July 4th weekend Friday/Monday
Anyone see we get an extra paid holiday this year. A little positive note here..
@3duv+174xXkY5 70% of IT will be outsourced by 2022
I wonder if leadership is eliminating the PTO payout because more layoffs are coming in 2021.
Heartless. Lets lay off people in a bad economy where they could be off for a year, cut their insurance And if they get covid they're screwed and now dont give them their pto to help pay for all of this. Gail, gloria, you s—!!!
@2hlr+174xXkY5 401 k poster. thank you for the information.
The 401k changes were outlined in a letter recently received from Vanguard. There is no link and it's not on their website yet. The fund changes will be implemented on 10/23/20. 8 funds are being removed and 8 new options, mainly managed trusts, will be added. If you have money in the 8 funds being removed it will automatically transfer to other options. The eight funds being removed are:
Inflation Protected Securities
International Growth
Mid-Cap Value
Prime Money Market
Primecap
Total International Bond
Wellington
Windsor II
So embarrassing and blatant how employees are being treated. We need a union or some way to fight back.
@1uwx+174xXkY5 – 401k poster where are you getting your info. I couldn't find anything can you put the link here please.
And the changes to the 401k plan choices fit in the same cost cutting boat. There will be no more really actively managed funds to choose from. They're all going to be Index, Targeted Retirement or the new wrinkle, Trusts managed by outside sources. They're not publicly traded so you can't find any performance history, risk/reward information, etc. None of these types of investments require much management at all. They pretty much just sit there and mirror benchmarks.
They'll tell you that they're doing that to lower "your costs" but in reality they're lowering corporate costs too. Vanguard was already famous for having low costs. Give me the choice to make my own decisions on how much risk I want to take instead. Don't pigeon hole us into only Index type funds and non-traded Trusts with no available information to research.
I am considering cutting my contributions to the company match level and boosting the level that my wife contributes in her plan to make up for it. Her company has far better choices.
Seems like they're just cutting every corporate benefit to the bone. Good luck retaining employees. But then again, they don't really seem concerned about that these days, do they?
Interesting that this tidbit was listed under “more enhancements”. More enhancements for who? When you get your lay-off notice the only enhancement is for the company so they don’t have to pay out your PTO!
Hey are the Cognizant moderators on here the same as in Facebook?
It’s time for the company to be broken up. A for-profit healthcare company should be illegal. The only true customers are the shareholders, not the members.
They are also revamping the HMO plan where the max out-of-pocket is dependent on a person’s salary. In addition, they added a new PPO plan. The choice of health plans are more confusing this year...To the point you may need a lawyer to understand all the fine print.
Figures. You know what? After decades here it's time to start looking elsewhere. I had been of a mind to wait it out and make them pay unemployment for me. They already stole hours from me when they moved to a carryover maximum of 40 hours a few years ago. But now they're going to pull this one and steal the rest too? The heck with that. They don't care one whit about their employees. Not one.
These decisions are being made by people who get a nice big golden handshake when they leave. Next time you get the corporate docs online, open the link/download and scan thru the executive compensation sections. All sorts of little sweetheart deals there. You'll be sickened by what you read.