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Navigating Rehire Waves at Magellan Midstream Partners: Strategies for Returning to Familiar Shores

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Healthcare Provider Update: Healthcare Provider for Magellan Midstream Partners Magellan Midstream Partners, like many large companies, typically provides a range of healthcare options for its employees, including coverage through major national insurers. The specific providers may vary, but among the top insurers suggesting significant premium increases for 2026 are UnitedHealthcare, Anthem, and Cigna, which may impact Magellan employees. Potential Healthcare Cost Increases in 2026 As the healthcare landscape evolves, Magellan Midstream Partners employees are poised to face significant cost increases in 2026. With healthcare premiums expected to rise sharply, particularly due to the expiration of enhanced federal subsidies, employees could see out-of-pocket costs escalate by over 75%. These anticipated hikes, with some states reporting individual market increases of more than 60%, highlight the pressing need for employees to review their healthcare plans proactively, taking steps to minimize financial strain amidst these escalating expenses. Click here to learn more

'Magellan Midstream Partners employees should view rehiring opportunities not just as a return to familiar ground, but as a strategic career move to leverage experience and negotiate improved terms, especially in today's fluid labor market,' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'Magellan Midstream Partners employees navigating rehiring offers should carefully assess their financial goals and career growth opportunities before returning, turning workforce shifts into a strategic advantage,' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

  1. Evaluating whether to return to a former employer after a layoff.

  2. How companies like Magellan Midstream Partners are using technology to streamline rehiring.

  3. The strategic advantages for both employees and employers in the rehire process.

Many Magellan Midstream Partners employees, along with others in the energy sector, have experienced the flux of being laid off and then rehired, reflecting the unpredictable waves of the labor market. Notably, even industry giants like Magellan Midstream Partners have been part of this trend, recalling employees to navigate through the changing economic landscapes and operational needs.

The decision to return isn't merely about accepting a job offer; it involves a thorough assessment of one’s financial status and other available job prospects. Career adviser Debra Wheatman recommends that individuals evaluate their current financial health and job market opportunities to make a well-informed decision.

Gaining a bit of leverage is often a part of this process. As Wheatman points out, returning employees might have the opportunity to negotiate better terms than before, potentially leading to improved roles, higher compensation, or more stable job conditions at Magellan Midstream Partners.

However, individual stories reveal diverse experiences. For example, after a brief layoff from a marketing agency, Jessica Swenson chose to return as a contractor, finding that the flexibility better suited her career aspirations, emphasizing the growing importance of adaptability in professional settings.

Conversely, Kristie Jones, who dealt with an impersonal layoff process, opted not to return to her previous employer, moving instead into consultancy. This shift underscores a common path for many who seek independence after corporate disenchantments.

Magellan Midstream Partners is leveraging advanced technologies like artificial intelligence through platforms like Visier, which meticulously track employment records to streamline the rehiring process. This methodical approach aids in aligning qualified candidates with suitable positions efficiently, utilizing detailed data analysis [source needed].

Moreover, the corporate recognition of rehiring's advantages, such as reduced onboarding time and familiarity with company culture, is increasing. Reemployed individuals often adapt more quickly and cost-effectively, providing a quicker return on investment for the company.

The manner in which layoffs are executed is crucial, as it affects the likelihood of rehiring. Fostering a respectful layoff process helps preserve professional relationships and keeps a pool of potential candidates ready for when market conditions favor reemployment.

Matt Massucci, CEO of Hirewell, notes that the reasons behind a separation—be it performance issues, strategic shifts, or economic factors—greatly influence rehire possibilities. Both Magellan Midstream Partners and its workforce must navigate these complexities with a clear understanding of each other's perspectives.

Ultimately, the decision to return to Magellan Midstream Partners should come after thoughtful consideration of the pros and cons, influenced by the initial separation's circumstances. As the labor market evolves, such decisions are increasingly viewed as strategic career moves rather than mere opportunities.

The concept of 'unretirement' is becoming prevalent, especially among older workers nearing retirement age. A significant portion of retirees reenters the workforce, driven by the need for engagement or financial necessities. Companies, including Magellan Midstream Partners, appreciate the unique perspectives and reliability that seasoned professionals bring during turbulent economic periods.

Explore how to handle rehire proposals and draw on your experience when considering a return to Magellan Midstream Partners after a layoff. Learn from others who have navigated this path successfully and understand how your familiarity with the company can reduce onboarding challenges and facilitate a smoother reintegration.

Reflecting on the labor market's fluid nature, consider the analogy of ocean tides. Just as tides ebb and flow, Magellan Midstream Partners might reduce its workforce during downturns but also reengage skilled professionals when conditions improve. For those seasoned in navigating these shifts, it presents an opportunity to reassess and potentially return to a familiar environment, equipped with experience and strategic foresight.

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Source:

1. Weber, Lauren. 'The Company That Laid You Off Wants You Back. What Do You Say?'  The Wall Street Journal , 24 Apr. 2025,  www.wsj.com/articles/company-layoffs-rehiring-employees-2025 .

2. Cadmus, Jay. 'I Was Laid Off at 55 and Took 6 Months to Find a Job.'  Business Insider , June 2024,  www.businessinsider.com/laid-off-older-workers-rehire-job-hunt-2024-6 .

3. Schooley, Skye. 'Best Layoff Practices: Can You Lay Off and Hire at the Same Time?'  Business News Daily , 23 Oct. 2023,  www.businessnewsdaily.com/15785-layoff-rehire-best-practices.html .

4. Cook, Ian. 'Hiring After Layoffs: What Employers Need To Know.'  Visier , 19 Sept. 2023,  www.visier.com/blog/hiring-after-layoffs/ .

5. Fischman, Wendy. 'Rehiring Furloughed and Laid-Off Workers Post-Pandemic.'  Potomac Law Group , 13 May 2020,  www.potomaclaw.com/news-rehiring-furloughed-laid-off-workers .

What type of retirement savings plan does Magellan Midstream Partners offer to its employees?

Magellan Midstream Partners offers a 401(k) retirement savings plan to its employees.

Does Magellan Midstream Partners match employee contributions to the 401(k) plan?

Yes, Magellan Midstream Partners provides a matching contribution to employee contributions to the 401(k) plan, subject to certain limits.

What is the eligibility requirement for employees to participate in the Magellan Midstream Partners 401(k) plan?

Employees of Magellan Midstream Partners are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

How can employees of Magellan Midstream Partners enroll in the 401(k) plan?

Employees can enroll in the Magellan Midstream Partners 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What investment options are available in the Magellan Midstream Partners 401(k) plan?

The Magellan Midstream Partners 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can employees of Magellan Midstream Partners change their contribution percentage to the 401(k) plan?

Yes, employees can change their contribution percentage to the Magellan Midstream Partners 401(k) plan at any time, subject to plan rules.

Is there a limit on how much employees can contribute to the Magellan Midstream Partners 401(k) plan?

Yes, the IRS sets annual contribution limits for 401(k) plans, and employees of Magellan Midstream Partners must adhere to these limits.

When can employees of Magellan Midstream Partners access their 401(k) funds?

Employees can access their 401(k) funds upon reaching retirement age, or in cases of hardship, termination of employment, or other qualifying events as defined by the plan.

Does Magellan Midstream Partners offer a loan option against the 401(k) plan?

Yes, Magellan Midstream Partners allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.

What happens to the 401(k) plan if an employee leaves Magellan Midstream Partners?

If an employee leaves Magellan Midstream Partners, they may roll over their 401(k) balance to another retirement account, cash out, or leave it in the plan if permitted.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Plan Name: Magellan Midstream Partners Pension Plan Years of Service and Age Qualification: Employees generally need to have 5 years of service to qualify for benefits. The typical retirement age is 65. Pension Formula: Benefits are calculated based on a formula that considers years of service and average salary, but specific details are not disclosed publicly. Plan Name: Magellan Midstream Partners 401(k) Plan Eligibility: Employees are eligible to participate in the 401(k) plan after completing 30 days of service. Matching Contributions: The company offers a matching contribution up to a certain percentage of the employee's contribution, which is outlined in the plan details. Source Document: Magellan Midstream Partners 2023 Employee Benefits Summary
Restructuring and Layoffs: In 2023, Magellan Midstream Partners announced a restructuring plan aimed at streamlining operations and reducing costs. This included layoffs as part of their effort to optimize their workforce and improve overall efficiency. This restructuring is part of their strategy to better align with current market conditions and enhance profitability.
In 2022, Magellan Midstream Partners offered Stock Options (SO) and Restricted Stock Units (RSUs) to its senior executives and key employees. These were detailed in the annual report,
Company Official Website: The company's official website is Magellan Midstream Partners. Typically, companies include detailed health benefits information in the "Careers" or "Employee Benefits" sections. I'll look for specific terms and acronyms used by the company. HR and Benefits Reports: Magellan Midstream Partners often publishes annual reports or updates on their benefits. These reports can be found in the "Investor Relations" section or similar areas. Employee Reviews and Forums: Websites like Glassdoor and Indeed offer insights from current and former employees about the company's health benefits. These can provide practical details and employee sentiments. News Articles and Industry Reports: News outlets and industry reports might cover recent changes or news related to employee health benefits. Websites like Bloomberg, Reuters, or industry-specific publications are good sources. Healthcare Benefits Providers: Information about the healthcare providers and plans offered by the company can sometimes be found on third-party benefits comparison sites or directly from the providers themselves
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