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Healthcare Provider Update: Healthcare Provider for Western Midstream Partners Western Midstream Partners typically partners with major insurers for employee healthcare coverage, with providers including national firms such as UnitedHealthcare, Anthem (Elevance Health), and Cigna. These partnerships are crucial for delivering health benefits to employees, enabling access to essential medical services and prescription drugs. Potential Healthcare Cost Increases in 2026 In 2026, employees of Western Midstream Partners may face substantial healthcare cost increases, primarily driven by the anticipated expiration of enhanced federal premium subsidies and significant rate hikes from major insurers. Projections indicate that average ACA marketplace premiums could rise dramatically, with some states experiencing increases of over 60%. As a result, many employees could see their out-of-pocket costs surge by as much as 75%, necessitating a careful evaluation of both employer-sponsored plans and marketplace options to mitigate the financial impact. Click here to learn more
Most Western Midstream Partners 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 Western Midstream Partners 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?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
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- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
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 Western Midstream Partners employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the 401(k) plan offered by Western Midstream Partners?
The 401(k) plan at Western Midstream Partners is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How can I enroll in the 401(k) plan at Western Midstream Partners?
Employees can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
What is the company match for the 401(k) plan at Western Midstream Partners?
Western Midstream Partners offers a company match of 50% on employee contributions up to a certain percentage of their salary, helping to boost retirement savings.
When can I start contributing to the 401(k) plan at Western Midstream Partners?
Employees can start contributing to the 401(k) plan after completing their eligibility period, which is typically within the first month of employment.
What types of investments are available in the Western Midstream Partners 401(k) plan?
The 401(k) plan at Western Midstream Partners offers a variety of investment options, including mutual funds, target-date funds, and possibly company stock.
Can I change my contribution percentage to the 401(k) plan at Western Midstream Partners?
Yes, employees can change their contribution percentage at any time through the HR portal or by contacting payroll services.
Is there a vesting schedule for the company match in the 401(k) plan at Western Midstream Partners?
Yes, Western Midstream Partners has a vesting schedule, which means that employees must work for the company for a certain period before they fully own the company match contributions.
What happens to my 401(k) if I leave Western Midstream Partners?
If you leave Western Midstream Partners, you have several options for your 401(k), including rolling it over to a new employer’s plan, transferring it to an IRA, or cashing it out (subject to taxes and penalties).
Can I take a loan against my 401(k) at Western Midstream Partners?
Yes, Western Midstream Partners allows employees to take loans against their 401(k) balance, subject to certain terms and conditions.
Are there hardship withdrawal options available in the 401(k) plan at Western Midstream Partners?
Yes, employees may be eligible for hardship withdrawals from their 401(k) plan at Western Midstream Partners under specific circumstances defined by the plan.
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