Inflation is up 3.7% and Social security recipients will get a 3.6% increase. If you make it past the cut, prepare for another cut when you get a merit increase that doesn’t match inflation.
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You could make some money as a whistleblower reporting Elevance for fraud on their government contracts. ( if u can find it) - it has been done before - related to some maternity Medicaid program in one of the Midwest states.
@g1 Yeah, I would just get out as soon as you can. These 5 major health insurance corporations (e.g., Elevance/Anthem, Humana, Cigna, Centene, United) all have a way of taking a toll on a person’s soul.
@ef I've consistently earned less each year for the past five years, what with my .5-1% merit increases against inflation. Between that and the truly horrendous insurance they're going to unveil soon, I may actually end up paying them to work here.
@er Bingo! I think perhaps you have stumbled upon the solution. I think maybe we all need to do like Mark Wahlberg in the movie The Gambler and cash out on our 401k and also empty our savings account and head to the nearest casino and put it all down on black on the roulette wheel. Then, when that hits, put all that money down again on black. Then, after that hits, do the same thing again. That is my financial advice to everyone on here.
I am TOTALLY kidding! Please, please do NOT do that! Lol.
My financial plan is offset my annual inflationary setback with whatever I can win betting on DraftKings. I may try dabbling in lottery games too.
“Be prepared for a merit increase that doesn’t keep up with inflation!”
Merit increases last year didn’t keep up with inflation, and probably the years before too. We are constantly getting sc--wed and it definitely promotes job hopping. This isn’t exclusive to Elevance Health or the healthcare industry.
APC - marathon health seems to have good reviews but what prevents the doctors from not providing ADA or FMLA paperwork? I dont trust a healthcare company saying I will automatically pay $100 copay to the same doctor that I have gone to for years.
Be prepared for the benefit cost increase too. My mom’s Anthem Medicare Advantage premium is going up 60% next year (yes, 60%, yes, she is shopping around).
They always stressed it is Merit, not Cost of Living.
However, like everyone else, I thought it was terrible to offer such a measly amount. Some got less than 2%.
Salaries are essentially shrinking over time.
The ELT is also making sure associates keep less of what they earn by forcing us to drive to an office to do our desk work. Thanks ELT for putting the kn--e in our backs!
I am a manager and have been for many years - here is the truth - I am not able to give anyone more than 2% without approval from the director - I have to provide a long list of evidence to support the increase. If the list is not satisfactory to the director I will be told no. At the same time I will also be told I need 10-20% of staff at exceeds - once I provide who I will rate that way - I must also provide evidence for that decision - frankly sometimes it gets approved - other times I am asked why a specific person or 2 are not rated higher. They are favorites of the director - It is such BS
At the end of it - like other posters have said in the other posts - you get a merit sheet with an inserted total - same with AIP - that are your pies. You goal is to spend all the money on both sheets - so if you get a merit of 2.36% the reason for the .36 is part of the math game. I played with your number along with everyone elses to get to zero.
The usual formula is that 80% of your team meet standards - 10% would exceed and if you can pull it off 10% would not meet - or partially meet - if that happens I will be on the hook for why they are still here if they are not already on a plan of correction. If they are on a plan, my raise will reflect my "lack of leadership" as a punishment.
There you have it - the honest truth - by the way I quit 2 months ago - so I thought what the heck spill the beans
@ay Yeah, every time an annual raise % is below the annual inflation %, then in reality the company and your direct leader gave you a demotion, a pay reduction.
Therefore, in turn, your work efforts for that new year should commensurate to the difference of the inflation % and your raise %. So, if the inflation % is 3.5% and your annual raise % was 2%, then you should decrease your work efforts by 1.5% for the new year. That is only fair and just.
@ay plus increase in insurance premiums with little benefit. Thankful for the job but not surprised if it's over soon.
@OP 2% raises for years and years dont cut it anymore with inflation rates 3, 4, 5, 6, 7,8 %