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

Cisco Systems Employees: Unlock the Benefits of the Federal Student Grant Program for Your Family's Education

Healthcare Provider Update: Healthcare Provider for Cisco Systems: Cisco Systems predominantly collaborates with major national insurers, mainly including Anthem (Elevance Health), UnitedHealthcare, and Aetna, to provide employee healthcare benefits. These collaborations offer a range of plans aimed at ensuring comprehensive health coverage for their employees and their families. Potential Healthcare Cost Increases in 2026: In 2026, employees of Cisco Systems may face significant increases in healthcare costs due to anticipated surges in health insurance premiums. With marketplace plans expected to see hikes of over 60% in some states, combined with the potential expiration of enhanced federal subsidies, out-of-pocket expenditures could rise dramatically. These changes, alongside medical cost inflation projected between 7% to 10%, indicate a challenging landscape for healthcare affordability, urging employees to evaluate their benefits and cost management strategies carefully ahead of these increases. Click here to learn more

Most Cisco Systems employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.

Granted value

Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.

Know your grants

The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all Cisco Systems employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:

Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.

FAFSA Required

Featured Video

Articles you may find interesting:

No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a Cisco Systems employee could secure may surprise you.

Finder.com, 2019

StudentAid.gov, 2020

What is the Cisco Systems 401(k) plan?

The Cisco Systems 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

How can I enroll in the Cisco Systems 401(k) plan?

Employees can enroll in the Cisco Systems 401(k) plan through the employee benefits portal or by contacting the HR department for assistance.

What is the employer match for the Cisco Systems 401(k) plan?

Cisco Systems offers a competitive employer match for contributions made to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.

Are there any fees associated with the Cisco Systems 401(k) plan?

Yes, the Cisco Systems 401(k) plan may have administrative fees and investment fees, which are disclosed in the plan documents.

What investment options are available in the Cisco Systems 401(k) plan?

The Cisco Systems 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

Can I take a loan from my Cisco Systems 401(k) plan?

Yes, employees may have the option to take a loan from their Cisco Systems 401(k) plan, subject to certain terms and conditions.

What happens to my Cisco Systems 401(k) plan if I leave the company?

If you leave Cisco Systems, you have several options for your 401(k) plan, including rolling it over to an IRA or a new employer’s plan, or cashing it out.

At what age can I start withdrawing from my Cisco Systems 401(k) plan?

You can typically start withdrawing from your Cisco Systems 401(k) plan without penalties at age 59½.

Does Cisco Systems offer financial counseling for 401(k) participants?

Yes, Cisco Systems may provide access to financial counseling services to help employees make informed decisions about their 401(k) investments.

How often can I change my contribution amount to the Cisco Systems 401(k) plan?

Employees can typically change their contribution amount to the Cisco Systems 401(k) plan at any time, subject to plan rules.

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

Cisco Systems provides a 401(k) plan with company matching contributions. Employees can contribute pre-tax or Roth (after-tax) dollars, and Cisco matches 100% of the first 4.5% of eligible compensation. The plan includes various investment options such as target-date funds, mutual funds, and a self-directed brokerage account. Cisco 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.

Cisco is undergoing a major restructuring, which includes laying off thousands of employees to focus on high-growth markets like AI and cloud computing. The company is also planning to acquire Splunk Inc., which is expected to enhance its capabilities in these areas. Cisco offers a 401(k) plan with immediate enrollment and a range of health and wellness benefits for retirees. Staying updated on these benefits is crucial given the current political climate.

Cisco Systems offers both RSUs and stock options to employees. RSUs vest over time and convert into shares, while stock options allow employees to buy shares at a fixed price.

Additional Articles

Check Out Articles for Cisco Systems employees

For more information you can reach the plan administrator for Cisco Systems at 170 W Tasman Dr San Jose, CA 95134; or by calling them at (408) 526-4000.