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Healthcare Provider Update: Healthcare Provider for Packaging Corp. of America Packaging Corp. of America typically offers healthcare coverage through major insurers for its employees. While specific provider listings may vary by location, commonly partnered insurers include UnitedHealthcare, Anthem BlueCross BlueShield, and Cigna, among others. Potential Healthcare Cost Increases in 2026 As we look ahead to 2026, healthcare costs are projected to surge significantly, particularly within Affordable Care Act (ACA) marketplaces. With many states anticipating premium hikes of over 60%, the retrospective loss of enhanced federal premium subsidies is poised to exacerbate the financial burden, resulting in potential out-of-pocket increases exceeding 75% for nearly all marketplace enrollees. Compounding these rising costs are ongoing trends of increasing medical expenses driven by higher hospital, physician, and drug prices, alongside inflationary pressures affecting the broader economy. Consequently, while Packaging Corp. of America navigates these trends, both the company and its employees may face steeper healthcare expenses in the near future. Click here to learn more
Most Packaging Corp. of America 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 Packaging Corp. of America 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 Packaging Corp. of America employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What type of retirement savings plan does Packaging Corp. of America offer to its employees?
Packaging Corp. of America offers a 401(k) retirement savings plan to its employees.
Does Packaging Corp. of America match employee contributions to the 401(k) plan?
Yes, Packaging Corp. of America provides a matching contribution to employee 401(k) plan contributions, subject to certain limits.
What is the eligibility requirement to participate in the 401(k) plan at Packaging Corp. of America?
Employees of Packaging Corp. of America are eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.
How can employees of Packaging Corp. of America enroll in the 401(k) plan?
Employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What investment options are available in Packaging Corp. of America's 401(k) plan?
Packaging Corp. of America offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Can employees of Packaging Corp. of America take loans against their 401(k) savings?
Yes, Packaging Corp. of America allows employees to take loans against their 401(k) savings, subject to the plan’s terms and conditions.
What is the vesting schedule for the employer match in Packaging Corp. of America’s 401(k) plan?
The vesting schedule for the employer match at Packaging Corp. of America typically follows a graded vesting schedule over several years.
Are there any fees associated with Packaging Corp. of America’s 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with Packaging Corp. of America’s 401(k) plan, which are disclosed in the plan documents.
How often can employees of Packaging Corp. of America change their 401(k) contribution amount?
Employees can change their 401(k) contribution amount at any time, following the guidelines set by Packaging Corp. of America.
What happens to the 401(k) savings if an employee leaves Packaging Corp. of America?
If an employee leaves Packaging Corp. of America, they can choose to roll over their 401(k) savings to another qualified plan, withdraw the funds, or leave them in the current plan if allowed.
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