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Healthcare Provider Update: Healthcare Provider for Coterra Energy Coterra Energy employees and retirees utilize the healthcare services offered through a variety of providers, primarily those associated with the Affordable Care Act (ACA) marketplace plans. These can include major insurers like UnitedHealthcare, Anthem (Elevance Health), and others depending on the specific plan selections available to them. It is advisable for employees to review their individual options based on their needs and potential costs. Potential Healthcare Cost Increases in 2026 In 2026, Coterra Energy employees may face substantial increases in healthcare costs, driven by impending changes in the Affordable Care Act (ACA). With state estimates pointing to premium hikes exceeding 60% in some regions, and a potential loss of federal premium subsidies, many employees could experience a drastic rise in out-of-pocket expenses-averaging an alarming 75%. This scenario is compounded by escalating medical costs across the board, placing additional financial strain on Coterra employees and retirees as they navigate their healthcare options. It is critical for individuals to proactively plan for these changes to avoid detrimental impacts on their financial stability. Click here to learn more
Most Coterra Energy 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 Coterra Energy 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
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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 Coterra Energy employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the primary purpose of Coterra Energy's 401(k) Savings Plan?
The primary purpose of Coterra Energy's 401(k) Savings Plan is to help employees save for retirement by providing a tax-advantaged way to invest a portion of their salary.
How can employees of Coterra Energy enroll in the 401(k) Savings Plan?
Employees of Coterra Energy can enroll in the 401(k) Savings Plan by completing the online enrollment process through the company’s benefits portal or by contacting the HR department for assistance.
What types of contributions can employees make to Coterra Energy's 401(k) Savings Plan?
Employees can make pre-tax contributions, Roth (after-tax) contributions, and possibly catch-up contributions if they are age 50 or older to Coterra Energy's 401(k) Savings Plan.
Does Coterra Energy offer a company match for 401(k) contributions?
Yes, Coterra Energy offers a company match for employee contributions to the 401(k) Savings Plan, which enhances the overall retirement savings for employees.
What is the vesting schedule for Coterra Energy's company match in the 401(k) Savings Plan?
The vesting schedule for Coterra Energy's company match typically follows a graded vesting schedule, where employees become fully vested after a certain number of years of service.
Can employees of Coterra Energy change their contribution amounts to the 401(k) Savings Plan?
Yes, employees can change their contribution amounts to Coterra Energy's 401(k) Savings Plan at any time, subject to plan rules.
What investment options are available within Coterra Energy's 401(k) Savings Plan?
Coterra Energy's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
Is there a loan option available through Coterra Energy's 401(k) Savings Plan?
Yes, Coterra Energy allows employees to take loans against their 401(k) Savings Plan balance, subject to specific terms and conditions outlined in the plan.
How can employees access their account information for Coterra Energy's 401(k) Savings Plan?
Employees can access their account information for Coterra Energy's 401(k) Savings Plan through the plan's online portal or by contacting the plan administrator.
What happens to the 401(k) Savings Plan if an employee leaves Coterra Energy?
If an employee leaves Coterra Energy, they have several options regarding their 401(k) Savings Plan balance, including rolling it over to another retirement account, cashing it out, or leaving it in the plan if permitted.
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