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Healthcare Provider Update: Healthcare Provider for Paramount Global Paramount Global primarily offers healthcare benefits through its arrangements with major insurers. Employees often access health insurance through the Affordable Care Act (ACA) marketplace as well as employer-sponsored health plans, provided by companies like UnitedHealthcare, which is among the top insurers in the nation. Potential Healthcare Cost Increases for 2026 As premiums for Affordable Care Act (ACA) marketplace plans are projected to surge in 2026, employees of Paramount Global should brace for a significant rise in healthcare costs. Some states may see increases exceeding 60%, driven by a combination of expiring federal subsidies and escalating medical costs. Without congressional intervention, nearly 92% of marketplace enrollees could experience premium hikes of up to 75%, placing added financial pressure on employees reliant on these plans. It is crucial for workers to stay informed and consider their options carefully to mitigate the impact of these potential increases. Click here to learn more
Most Paramount Global 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 Paramount Global 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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- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
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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 Paramount Global employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What type of retirement savings plan does Paramount Global offer to its employees?
Paramount Global offers a 401(k) retirement savings plan to its employees.
Is there a company match for contributions made to the 401(k) plan at Paramount Global?
Yes, Paramount Global provides a company match for employee contributions to the 401(k) plan, subject to certain limits.
How can employees at Paramount Global enroll in the 401(k) plan?
Employees at Paramount Global can enroll in the 401(k) plan through the company's benefits portal or by contacting the HR department for assistance.
What is the eligibility requirement for participating in the 401(k) plan at Paramount Global?
Employees must meet specific eligibility criteria, such as age and length of service, to participate in the 401(k) plan at Paramount Global.
Can employees at Paramount Global take loans against their 401(k) savings?
Yes, Paramount Global allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What investment options are available in the Paramount Global 401(k) plan?
The Paramount Global 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
How often can employees at Paramount Global change their 401(k) contribution amount?
Employees at Paramount Global can change their 401(k) contribution amount at any time, typically during open enrollment or through the benefits portal.
Does Paramount Global provide educational resources for employees regarding their 401(k) plan?
Yes, Paramount Global offers educational resources and workshops to help employees understand and manage their 401(k) savings effectively.
What happens to the 401(k) savings if an employee leaves Paramount Global?
If an employee leaves Paramount Global, they have several options for their 401(k) savings, including rolling it over to another retirement account or cashing it out, subject to taxes and penalties.
Is there a vesting schedule for the company match in the Paramount Global 401(k) plan?
Yes, there is a vesting schedule for the company match in the Paramount Global 401(k) plan, which determines when employees fully own the matched funds.
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