Linky no worky
Here's an updated link for all:
Principal To Cut Jobs, End Medical Insurance Business | KCRG-TV9 | Cedar Rapids, Iowa News, Sports, and Weather | Local News
It has been removed.
Well, here is one about the Ocare Impact:
McDonald's Says It May Drop Health Plan - WSJ.com
Looks like all fast food will be in the same bucket.Quote:
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.
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.
Looks like they will not be hiring anyone soon. If the profits (even 1%) will not exist in medical insurance, the companies will leave that area.
After all, why risk a company/business when you have a 1% profit industrywide??? The govt will eventually own the industry as a single payer. Hope the govt then does not go bankrupt or otherwise their goes the medical bill payments.
Well sob, have a job interview there next week. Looks like I will be double thinking about taking it
What would Principal cutting their medical insurance DIVISION, have anything to do with their life division?
They are NOT cutting their medical coverage for employees, they are getting out of the medical insurance business.
Meaning if Principal cuts their health benefits from providing their own to assigning this duty to an outside vendor then the costs will go up for the employees of Principal.
So in short, the cost of benefits is going up for the employees and any new people coming on board will have to offset this cost to them by asking for more money per year.