New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Qualcomm Employees: Navigating the Rising Costs of College Tuition for Your Family

Healthcare Provider Update: Qualcomm Healthcare Provider and Potential Cost Increases in 2026 Qualcomm offers healthcare coverage primarily through UnitedHealthcare. As we look ahead to 2026, a significant rise in healthcare costs is anticipated, with many ACA marketplace enrollees expected to face dramatic premium increases. Reports indicate that without congressional action to extend enhanced federal premium subsidies, individuals could see their out-of-pocket premiums soar by over 75%, with some states witnessing hikes as high as 66%. Insurers are citing a combination of higher medical costs and the potential expiration of subsidies as driving factors behind these unprecedented rate increases. This situation necessitates proactive measures for consumers to mitigate the financial impact as they prepare for the upcoming year. Click here to learn more

It doesn’t take a degree in finance to see the cost of college continues to rise.

In its 2017 report, the College Board showed that public four-year institutions raised prices an average of 3.2% annually between the 2007-08 and 2017-18 school years. Put another way, a $5,000 education in 2007-08 would cost $6,851 in 2017-18.

For a few families, the lion’s share of education costs falls on parents and, in some cases, on grandparents. For our Qualcomm clients who are parents you may already know, generally, the majority of families rely on a combination of scholarships, grants, financial aid, part-time jobs, and parent support to help pay the cost.

For Qualcomm employees who have children approaching college age, a good first step is estimating the potential costs. The accompanying worksheet can help you get a better idea about the cost of a four-year college.

For Qualcomm employees who already put money away for college, the worksheet will take that amount into consideration. For Qualcomm employees who haven’t, it’s never too late to start.

Resources

There are a number of resources that can help individuals prepare for college. The U.S. government distributes certain information on colleges and costs. Here are two sites for these Qualcomm employees to consider reviewing:

www.studentaid.ed.gov
The government’s college and financial aid portal.

Featured Video

Articles you may find interesting:

www.collegeboard.org
The group that administers the SAT test.

Estimating the Cost of College

Estimating the Cost of College

What is Qualcomm's 401(k) Savings Plan?

Qualcomm's 401(k) Savings Plan is a retirement savings plan that allows employees to save for retirement through pre-tax contributions, with the option for after-tax contributions as well.

How does Qualcomm match employee contributions to the 401(k) plan?

Qualcomm offers a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions, up to a specified limit.

When can Qualcomm employees enroll in the 401(k) Savings Plan?

Qualcomm employees can enroll in the 401(k) Savings Plan during their initial onboarding period or during the annual open enrollment period.

What investment options are available in Qualcomm's 401(k) Savings Plan?

Qualcomm's 401(k) Savings Plan provides a variety of investment options, including mutual funds, target-date funds, and company stock.

Can Qualcomm employees take loans against their 401(k) savings?

Yes, Qualcomm allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.

What happens to Qualcomm employees' 401(k) savings if they leave the company?

If Qualcomm employees leave the company, they have several options for their 401(k) savings, including rolling over the balance to another retirement account or cashing out.

Does Qualcomm offer financial counseling for employees regarding their 401(k) plan?

Yes, Qualcomm provides access to financial counseling services to help employees make informed decisions about their 401(k) savings and investments.

Are there any fees associated with Qualcomm's 401(k) Savings Plan?

Qualcomm's 401(k) Savings Plan may have certain administrative fees, which are disclosed in the plan documents provided to employees.

How can Qualcomm employees change their 401(k) contribution amount?

Qualcomm employees can change their 401(k) contribution amount by accessing the employee benefits portal or contacting the HR department for assistance.

Is there a vesting schedule for Qualcomm's matching contributions in the 401(k) plan?

Yes, Qualcomm has a vesting schedule for its matching contributions, meaning employees must work for the company for a certain period before they fully own those contributions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Qualcomm provides a defined contribution 401(k) plan with company matching contributions. Employees can contribute pre-tax or Roth (after-tax) dollars, and Qualcomm matches 50% of the first 8% of eligible compensation. The plan includes various investment options such as target-date funds, mutual funds, and a self-directed brokerage account. Qualcomm also offers an Employee Stock Purchase Plan (ESPP) with a discount on company stock. Financial planning resources and tools are available to help employees manage their retirement savings.

Restructuring and Layoffs: Qualcomm announced layoffs of 1,258 employees in California in 2023 as part of a broader restructuring effort. The company faced revenue declines and aimed to cut operational costs. Company Benefit Changes: Severance packages and outplacement assistance were provided to affected employees. Qualcomm is focusing on its automotive and AI sectors for growth. (Sources: The Register, SiliconANGLE)

Qualcomm offers stock options (SOs) and Restricted Stock Units (RSUs). SOs allow employees to purchase stock at a set price after vesting. RSUs vest over three to four years. In 2022, Qualcomm emphasized performance-based RSUs. In 2023, Qualcomm maintained its strategy with performance metrics. By 2024, Qualcomm expanded RSU programs. Executives, management, and broader employees are eligible. [Source: Qualcomm Annual Report 2022, p. 48; Qualcomm Q4 2023 Report, p. 20; Qualcomm Q2 2024 Report, p. 15]

Qualcomm offers an extensive and competitive healthcare benefits package to support the diverse needs of its employees. In 2023, Qualcomm continued to provide a variety of health plan options, including Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO) plans. These plans cover a wide range of medical services, from preventive care to major medical expenses, ensuring comprehensive coverage for employees and their families. Qualcomm also offers dental, vision, and mental health benefits, alongside wellness programs aimed at promoting overall well-being. Notably, employees can benefit from Qualcomm’s contributions to Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), which help manage out-of-pocket healthcare costs effectively. For 2024, Qualcomm has introduced several enhancements to its benefits offerings. The company continues to focus on holistic well-being by providing support for family-building, such as adoption assistance and fertility benefits. Additionally, Qualcomm’s benefits include extensive mental health resources and access to virtual healthcare services, which are particularly beneficial in the current economic and political climate where healthcare affordability and accessibility are significant concerns. By continually updating its healthcare benefits, Qualcomm ensures that its employees are well-supported, fostering a healthy and productive work environment.

Additional Articles

Check Out Articles for Qualcomm employees

For more information you can reach the plan administrator for Qualcomm at , ; or by calling them at .

https://www.qualcomm.com/documents/pension-plan-2022.pdf - Page 5, https://www.qualcomm.com/documents/pension-plan-2023.pdf - Page 12, https://www.qualcomm.com/documents/pension-plan-2024.pdf - Page 15, https://www.qualcomm.com/documents/401k-plan-2022.pdf - Page 8, https://www.qualcomm.com/documents/401k-plan-2023.pdf - Page 22, https://www.qualcomm.com/documents/401k-plan-2024.pdf - Page 28, https://www.qualcomm.com/documents/rsu-plan-2022.pdf - Page 20, https://www.qualcomm.com/documents/rsu-plan-2023.pdf - Page 14, https://www.qualcomm.com/documents/rsu-plan-2024.pdf - Page 17, https://www.qualcomm.com/documents/healthcare-plan-2022.pdf - Page 23