A few things I learned today after a call with VC HR

The company has filed the Bankruptcy suit and there is NO money left!

Therefore;

VSP plans were canceled (1-01-09) due to the contract being up in Dec. 08 and will not be renewed.

Caremark Drug Plans - are said to be only filling 30 day supplies of medicine not 90 days since the company will now longer exist past 1-31-09. If you get denied for a 90 day refill call the 800#, they should be able to fill a 30 day supply of the prescription.
**Note: If you have a medication that normal cost is (ex) 250.00 a month and your co-pay is only $40.00 (ex) a month, the other 210.00 normally was paid by VC. Since VC has NO money and will be done by 1-31-09, they will not cover beyond a 30 day supply. I always thought it was some sort of discount with Caremark, was not aware VC paid the difference.

Medical Insurance - At this time (Cobra coverage) is expected to be over by 1-31-09. Again since the company has NO money the coverage will not go on. With this in mind ALL claims need to be submitted to the Insurance company before 1-31-09 or you will be financially responsible for the entire bill. For Example, doctor visits, testing, surgeries, etc. Please make sure if you are using a service that you let them know to bill the charges before 1-31-09. All claims after that will be out of you pocket cost since VC will not be around.

W2's - each person situation is different.. You will be taxed on any expense the company supplied to you. For example; rental living, apartments, company cars, relo packages, bonuses, etc) This may be what your 2nd W2 is reporting.

Those eligible to participate in the Bankruptcy suit are only those that are still owed $, (Vac, PTO, severance, etc). If this is you, wait for the information from the Bankruptcy suit to be mailed to you to fill out and send in. I am being told not to enter info on the EPIC site and the form that you will receive both or it will cause yours to be kicked out and will take long to process.

Anyone who was let go prior to the Oct 08 round and is not owed any $ does not need to fill out Bankruptcy forms. You are not apart of the suit.


VC Corporate HR Dept has a few people there till the end of this month to answer questions. I do not have the correct contact number for them at this time. After 1-31-09 there will be a recording on the voice mail directing you to who will be handling questions and issues from that point on.


Please note:

I am not providing legal assistance or directions pertaining to any of the information sent out.
This is only information I have learned and I am sharing to help others get answers.
If you are unsure of your situation please contact the HR dept for further assistance.