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Deeman3
10-28-2010, 02:16 PM
How much cash would your company have to save by dumping its health plan – in exchange for paying penalties – to make up for the ill will it would create among workers?
Bad news for lawmakers that just assumed companies would keep providing health coverage even after the reform law’s mandates kicked in: New evidence shows that four major employers — Verizon, AT&T, John Deere and Caterpillar — have crunched the numbers so see whether they should “play or pay.”

Their conclusion? It’ll be cheaper — way cheaper — to pay the penalties to the government and drop their employee health insurance plan.

Huge savings

Of course nobody thought a company would pull the rug out from its employees by actually dropping coverage. But then again — nobody thought dropping coverage to pay a penalty would save a company 75%, and nearly $1.8 billion, off its healthcare bill. That’s what AT&T calculated it would save.

Caterpillar came to the same conclusion. It said it could shave 70% off its bill by doing the same thing.

These findings come from internal documents recently reviewed by Congress.

The companies didn’t intend for this information to become public. It did so as a result of demands by Rep. Henry Waxman (D-CA) that the companies turn over all of their internal documents to Congress relating to healthcare reform compliance.

A real possibility

With so much savings involved, it no longer seems unrealistic that employers would drop their health plans and essentially give employees a “raise” to buy coverage on state insurance exchanges.

Of course this would fly in the face of President Obama’s statements about health reform that Americans who like their plan would be able to keep them.

However, none of the four companies commented in their reports as to whether they would actually drop their coverage.

Would your company consider dropping employee health coverage once the reform law’s 2014 “play or pay” mandate kicks in? Share your opinions in the Comments Box below.

pooltchr
10-28-2010, 02:56 PM
When enough companies figure this out, the government run single payer dream will become a reality.

Obamacare...Government wins, Americans lose.

Steve

LWW
10-29-2010, 02:21 AM
The new house will overturn Obamacare.

They will likely get 60 votes in the senate as well.

Chairman Obamao will veto it.

Then things will get interesting.

LWW

LWW
10-29-2010, 02:22 AM
Remember what Chairman Obamao teaches ... "Just because it's obviously true is no reason to believe that it's true, until I tell you it's true."

LWW

Gayle in MD
10-29-2010, 02:50 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Deeman3</div><div class="ubbcode-body">How much cash would your company have to save by dumping its health plan – in exchange for paying penalties – to make up for the ill will it would create among workers?
Bad news for lawmakers that just assumed companies would keep providing health coverage even after the reform law’s mandates kicked in: New evidence shows that four major employers — Verizon, AT&T, John Deere and Caterpillar — have crunched the numbers so see whether they should “play or pay.”

Their conclusion? It’ll be cheaper — way cheaper — to pay the penalties to the government and drop their employee health insurance plan.

Huge savings

Of course nobody thought a company would pull the rug out from its employees by actually dropping coverage. But then again — nobody thought dropping coverage to pay a penalty would save a company 75%, and nearly $1.8 billion, off its healthcare bill. That’s what AT&T calculated it would save.

Caterpillar came to the same conclusion. It said it could shave 70% off its bill by doing the same thing.

These findings come from internal documents recently reviewed by Congress.

The companies didn’t intend for this information to become public. It did so as a result of demands by Rep. Henry Waxman (D-CA) that the companies turn over all of their internal documents to Congress relating to healthcare reform compliance.

A real possibility

With so much savings involved, it no longer seems unrealistic that employers would drop their health plans and essentially give employees a “raise” to buy coverage on state insurance exchanges.

Of course this would fly in the face of President Obama’s statements about health reform that Americans who like their plan would be able to keep them.

However, none of the four companies commented in their reports as to whether they would actually drop their coverage.

Would your company consider dropping employee health coverage once the reform law’s 2014 “play or pay” mandate kicks in? Share your opinions in the Comments Box below.
</div></div>

Gee, I wanted to share my opinions in the comments box below! Where's the link, please?

LWW
10-29-2010, 02:58 AM
Doesn't your internets use the google?

Here you go dear heart ---&gt; <span style='font-family: Arial Black'><span style='font-size: 23pt'>&gt;&gt;&gt;CLICK ON THIS TEXT&lt;&lt;&lt; (http://www.hrmorning.com/companies-cheaper-to-pay-penalty-than-keep-our-health-plans/)</span></span>

LWW

pooltchr
10-29-2010, 06:29 AM
Google???? Research????

She much prefers to have her information spoon fed to her!


Steve

pooltchr
10-29-2010, 06:53 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">Could you at least give us a hint about where this ame from?

Thanks. /forums/images/%%GRAEMLIN_URL%%/smile.gif </div></div>

Larry gave you the link. It's from a publication for Human Resources professionals.

Steve

LWW
10-30-2010, 02:53 AM
She obviously has no interest in objectively viewing anything.

LWW

Sev
10-30-2010, 05:36 AM
The interesting thing is that the penalties the companies will have to pay will not support or pay for the government plan.

Qtec
10-30-2010, 05:46 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">When enough companies figure this out, the government run single payer dream will become a reality.



Steve </div></div>

.....and they will go bust if they don't start offering a better deal.

Q

LWW
10-30-2010, 05:55 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sev</div><div class="ubbcode-body">The interesting thing is that the penalties the companies will have to pay will not support or pay for the government plan. </div></div>

That's what money presses are made for.

LWW