I just heard the news from a neighbors friend while mowing my lawn, so I had to dig into this a little. Here's what I've been told and found.
UHC is giving an insulting and absolutely cruel severance for most all of those who are employed. You have 1 1/2 weeks (March 3rd) to take the VRSP, and if you don't.... Are you fired on March 4th? Or EOW? Last day being the 1st of May of you take the VRSP.
I feel absolutely horrible for everyone who put their faith in this company, customers alike, me being a customer.
The New CEO is very condescending and fake! But hey, they had to throw some in there to take the heat. Remember that movie 'Fun with Di-k And Jane'? They bring in a new guy to take over and then everyone is loosing their jobs bc of, well, I won't ruin it for you if you hadn't seen it.
The New Guy:
What does the public know of him? Seems like a stand up person right?
Starting out with an introduction to everyone the day he took his position saying everyone here is working extremely hard and we appreciate all your hard work, but your bonus this year will be significantly cut, to mer dollars. (Something along those lines of not very close). Cutting bonuses, then weeks later jobs? Where is Clark Grizzwalds brother in law when ya need him. I'm trying to lighten the mood a little for you folks.
They're holding back far more than they should be and this is absolutely cruel for the employees and the customers.
You might be asking: Is this VRSP worth it?
Well, that depends on your grade level and your years of service to this company. To say they're copying the Federal buy out, is to be nothing short of watered down.
I'll explain. If you've been with the company for less than 25 Years, you won't see anything past 3 months severance. Now take this into consideration when asking yourself this question. Do I have health issues or support someone who has health issues, what's the cost of living where you live, do you rent or own your house, or car or other toys, do you have children, are you the only one working in the house, what's the job market like in your area and lastly, what is the unemployment % weekly payment in your state. Those are all key factor to be looking at and analyzing. The Federal employees got a 8 month pay with benefits and can find a job and work during those 8 months. In my opinion, that's pretty generous, 8 MONTHS!!! the low end of the company will likely get 7-12 weeks pay with benefits and that's it.
Have PTO? Are you pregnant or adopting in the next couple of weeks -2 months? If so, say goodbye to paid paternity leave if you choose the VRSP.Looks like you'll cash in on your PTO tho (if they're or their word). Is your "Non compete" still valid, or can you go to another Insurance company??
Again, insurance doesn't me assured. Ask fact finding questions to your managers, and attended any HR activities that follows suit with this activity.
I've seen this in companies before, BUT not to this extreme extent, well, for a health insurance company who has a customer base of over 30 million members. A first for a health insurance company, that profits over 14+ BILLION in a year and is publicly traded. A lot of craziness going on with the company and it seems it stems from upper management not being transparent with a vast majority of things. Will they be within the next few days to a week before the deadline? Time will tell.
In conclusion of my own opinion, there's something much bigger going on with the company. Maybe a buyout? Elon? the government? Amazon?.. seriously worth thinking about. Drastic measures have been taken, I find it absolutely appropriate to dig into why this is happening. A company who profits over 14+BILLION a year, cuts bonuses, lay offs last year, and now a VRSP not even 6 months later with an absurd and cruel severance. A gym membership would be better than that garbage offer.
I'm just an outsider looking in. In my opinion, transparency is 110% warranted to the public< and to all of you who work there. Why? bc it is publicly traded on the stock market, and MILLIONS may be affected by this in one way or another. I sure hope not. I'm rooting for good things for all of you.