Humana Inc. is offering a voluntary early retirement program for its older employees.
The company issued a statement that says the program is one of several measures being taken "to prepare for 2018 and to further position the company for a strong long-term future."
The program offers two weeks of retirement pay for per each year of service with a maximum of 52 weeks’ pay, based on 26 years of work, plus other elements.
To be eligible, employees must be 55 years of age or older, have five years or more of completed service, and have a combination of age and years of service that equals 65 or greater. Applying for the early retirement package is entirely voluntary.
Providing two weeks of pay for each year with the company is typical of Humana's severance policies. Humana announced a similar severance compensation offering for about 180 laid-off Humana at Home employees late last month.