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CaféAuLait;2791044 said:McDonald's May Drop Health Plan
McDonald's Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul.
McDonald's Says It May Drop Health Plan - WSJ.com
McDonald's and trade groups say the percentage, called a medical loss ratio, is unrealistic for mini-med plans because of high administrative costs owing to frequent worker turnover, combined with relatively low spending on claims.
They may have to drop coverage because of the law-- this is what is being called an unintended consequence of Obamacare. They offer cheap insurance when many and now the payout will not meet with federal guidelines.
CaféAuLait;2791084 said:From the OP linked article.
\Last week, a senior McDonald's official informed the Department of Health and Human Services that the restaurant chain's insurer won't meet a 2011 requirement to spend at least 80% to 85% of its premium revenue on medical care. \
So McDonalds is charging too much for insurance? That means instead of dropping rates they cancel the coverage?
$ 14.00 a week, how much lower should they have to go?
Low enough to stay within the law.
And $14/wk is $56/mo for 2,000 MAX per year of coverage.
This all kinda looks like special interest lobbying to me.
LMAO!
The only people who didn't see this coming were those who didn't read the bill, or those who are too stupid to understand it.
McDonalds doesnt plan to drop health-care coverage for employees, said Danya Proud, a spokeswoman for the Oak Brook, Illinois-based company, in an interview yesterday. She declined to provide a memo sent to U.S. Health and Human Services in which McDonalds requested the waiver, saying the correspondence is proprietary
The only people who didn't see this coming were those who didn't read the bill, or those who are too stupid to understand it.
So which group do you fall in to? Did you not read the bill or too dumb to understand it?
I'm guessing it may be both because you just showed you either didn't read the article you posted or were too dumb to understand it.
FOXNews.com - Report: McDonald's May Drop Health Care Plan
At what point is it ok to say "we told you so"?
The only people who didn't see this coming were those who didn't read the bill, or those who are too stupid to understand it.
Obama is screwing us over a barrel.
Insurers say dozens of other employers could find themselves in the same situation as McDonald's. Aetna Inc., one of the largest sellers of mini-med plans, provides the plans to Home Depot Inc., Disney Worldwide Services, CVS Caremark Corp., Staples Inc. and Blockbuster Inc., among others, according to an Aetna client list obtained by the Journal. Aetna also covers AmeriCorps teaching-program sponsors, who are required by law to make health coverage available.
If I remember right, Caterpillar, AT&T, and Valero are also planning on reducing their health plans because of this law. The way it's playing out so far, I don't think Obama will be able to spin it as a net positive in 2012.
From the OP linked article.
\Last week, a senior McDonald's official informed the Department of Health and Human Services that the restaurant chain's insurer won't meet a 2011 requirement to spend at least 80% to 85% of its premium revenue on medical care. \
So McDonalds is charging too much for insurance? That means instead of dropping rates they cancel the coverage?
no, the cost of administering the program is higher than normal due to employee turnover, and most employees don't make that many claims against it. this health care law is about the most poorly crafted piece of legislation in the nation's history. a bunch of grandstanding asshats pushed it through, and they had, and have, no idea what they were doing.
'And yet:
But McDonald's issued a statement Wednesday denying that it planned to drop coverage for its employees and defending its benefit plans.
no, the cost of administering the program is higher than normal due to employee turnover, and most employees don't make that many claims against it. this health care law is about the most poorly crafted piece of legislation in the nation's history. a bunch of grandstanding asshats pushed it through, and they had, and have, no idea what they were doing.
Ohh I predicted pretty much how the Healthcare reform would work out before debate even started.
It would be something that would benefit the health ins/care industry.
And McDonalds just needs to work smarter and increase efficiencies in their insurance administration business.
Remember they are in the business of rapid employee turnover. So they should play by the rules for an employer of that type.
Again I think this is special interest lobbying.
are colleges in the business of high turnover? their plans aren't going to meet this standard either. mcdonald's doesn't administer the plan, btw, their insurance co does.
I personally think these are the INTENDED CONSEQUENCES. They hope to make it so hard for employers to meet the demands that they drop employees and then the stupid fucks can move to a one payer system.
This is exactly what we said would happen. Obamacare is herding the masses into state managed, CRAPPY health insurance, and eliminating the quality private health insurance. It's bullshit and it will be repealed, hopefully.
I personally think these are the INTENDED CONSEQUENCES. They hope to make it so hard for employers to meet the demands that they drop employees and then the stupid fucks can move to a one payer system.
This is exactly what we said would happen. Obamacare is herding the masses into state managed, CRAPPY health insurance, and eliminating the quality private health insurance. It's bullshit and it will be repealed, hopefully.
Funny how two posts that cut directly to the heart of the matter can be so utterly ignored.
Willow and Allie, you two are absolutely CORRECT.
This is exactly what we said would happen. Obamacare is herding the masses into state managed, CRAPPY health insurance, and eliminating the quality private health insurance. It's bullshit and it will be repealed, hopefully.
McDonalds doesnt plan to drop health-care coverage for employees, said Danya Proud, a spokeswoman for the Oak Brook, Illinois-based company, in an interview yesterday. She declined to provide a memo sent to U.S. Health and Human Services in which McDonalds requested the waiver, saying the correspondence is proprietary
McDonald's Seeks Waiver Over New Health-Care Law, Official Says - Bloomberg
I personally think these are the INTENDED CONSEQUENCES. They hope to make it so hard for employers to meet the demands that they drop employees and then the stupid fucks can move to a one payer system.
This is exactly what we said would happen. Obamacare is herding the masses into state managed, CRAPPY health insurance, and eliminating the quality private health insurance. It's bullshit and it will be repealed, hopefully.
Funny how two posts that cut directly to the heart of the matter can be so utterly ignored.
Willow and Allie, you two are absolutely CORRECT.
Ok that settles it. Pale Rider has spoken and told us what is correct based upon his obvious wealth of knowledge and experience. We can all move on now. Nothing left to see here.
