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Healthcare Provider Update: Qualcomm Healthcare Provider and Potential Cost Increases in 2026 Qualcomm offers healthcare coverage primarily through UnitedHealthcare. As we look ahead to 2026, a significant rise in healthcare costs is anticipated, with many ACA marketplace enrollees expected to face dramatic premium increases. Reports indicate that without congressional action to extend enhanced federal premium subsidies, individuals could see their out-of-pocket premiums soar by over 75%, with some states witnessing hikes as high as 66%. Insurers are citing a combination of higher medical costs and the potential expiration of subsidies as driving factors behind these unprecedented rate increases. This situation necessitates proactive measures for consumers to mitigate the financial impact as they prepare for the upcoming year. Click here to learn more
Most Qualcomm 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 Qualcomm 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 Qualcomm employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is Qualcomm's 401(k) Savings Plan?
Qualcomm's 401(k) Savings Plan is a retirement savings plan that allows employees to save for retirement through pre-tax contributions, with the option for after-tax contributions as well.
How does Qualcomm match employee contributions to the 401(k) plan?
Qualcomm offers a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions, up to a specified limit.
When can Qualcomm employees enroll in the 401(k) Savings Plan?
Qualcomm employees can enroll in the 401(k) Savings Plan during their initial onboarding period or during the annual open enrollment period.
What investment options are available in Qualcomm's 401(k) Savings Plan?
Qualcomm's 401(k) Savings Plan provides a variety of investment options, including mutual funds, target-date funds, and company stock.
Can Qualcomm employees take loans against their 401(k) savings?
Yes, Qualcomm allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What happens to Qualcomm employees' 401(k) savings if they leave the company?
If Qualcomm employees leave the company, they have several options for their 401(k) savings, including rolling over the balance to another retirement account or cashing out.
Does Qualcomm offer financial counseling for employees regarding their 401(k) plan?
Yes, Qualcomm provides access to financial counseling services to help employees make informed decisions about their 401(k) savings and investments.
Are there any fees associated with Qualcomm's 401(k) Savings Plan?
Qualcomm's 401(k) Savings Plan may have certain administrative fees, which are disclosed in the plan documents provided to employees.
How can Qualcomm employees change their 401(k) contribution amount?
Qualcomm employees can change their 401(k) contribution amount by accessing the employee benefits portal or contacting the HR department for assistance.
Is there a vesting schedule for Qualcomm's matching contributions in the 401(k) plan?
Yes, Qualcomm has a vesting schedule for its matching contributions, meaning employees must work for the company for a certain period before they fully own those contributions.
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