Thread regarding Xerox Corp. layoffs

I was a highly compensated employee (layed off). I paid $512 for my own coverage at XRX, covering my wife only for dental and vision. Same coverage under ACA was under $400. I live in NY state. Your numbers may differ depending on locality. But I agree with all 3 points made by OP

Some good comments here, but also some bad ones. Referring to @1mvz+177sgaom, I’d like to point out that in US the mortality rate is not .03% but 3%. Calculated as 212,000/7,400,000 = .028 rounded to .03 = 3%

Please leave Canada out of this.
https://www.youtube.com/watch?v=VYqjH4CltmA

A couple of non-political clarifications…

To the OP:
1) ACA can be very expense, depending on one’s income. I do not believe it is cheaper, except maybe low wage earners with families, than the Xerox plan. The reason is that Xerox would have to pay a penalty if that was the case, i.e. ‘minimum value.’ When I was laid-off a few years back at a different company, ACA was a lot cheaper for me that the COBRA plan that was offered, which is common.

2) I am not a benefits experience, but I do deal with the financial side. You are correct that Xerox’s health plan is primarily self-insured, which means the company carries the financial risk of higher or lower claims versus an insured plan. But, under IRS rules, the company is required to pay a minimum percentage of the money it collects to the actual claims and a vast majority of the rest goes to the health insurer that manages the claims. It is not a profit center for Xerox or anyone else.

3) That’s true from what I have seen. From what I know, basically the day that Icahn & co. took over, they pushed to set Xerox’s health contribution level to the minimum allowed under law without being penalized.

To others:

• I have been responsible for colleagues in Canada (pre-Xerox) and have traveled their extensively. Overall, the quality of healthcare, including primary and emergency care, is just as good there as it is in the US and way cheaper and more accessible. The challenge in Canada is voluntary stuff, like repairing a knee, they the wait times can be significant, say 6 to 12 months.

• Looking at neutral studies, i.e. those not tied to the GOP nor Democrats, which is what I do when doing financial modeling for group/employer health plan costs, the market-wide annual average cost increase has been 6% increase since ACA went into effect through 2019. Prior to ACA, costs increases were 10% per year for about a decade. While insuring those who can’t afford healthcare contributed to approximately 10% of that ACA increase according to those same studies along with 10% from removing pre-existing exclusions, which we will all have at one point or another. The largest chunk of the increase came from the spectacular rise in pharmacy costs, which is about 45%. Another 35% can be attributed to an aging population (think baby boomers) and an increasingly sedentary population.

Oh ffs, can we not go political on these threads? Pretty sure our company prez is on this thread as he’s the only one stupid enough to use terms like “sleepy joe”. Grow up.

Many that have never needed the healthcare exchange, who are now unemployed, are seeing what a huge disaster it actually is.

The virus with a mortality rate of less than .03 percent is not my concern. It's everything else I would see a doctor for.

@1vpr+177sgaom: Healthcare in Canada is a bit spotty... good motivation for masks and social distancing though.

Just got off the exchange. Single non smoking male 38yo will cost 400 dollars a month for a 8k deductible hmo plan. At least I can see a doctor in a couple of days vs years compared to the DMV style care being run in Canada so many Americans are jealous of.

https://youtu.be/q2jijuj1ysw?t=519

That’s BS. The health exchange is twice as much. Pull your head out.

You cannot get health care for less under ACa unless you are maybe single or you changed your coverage options. I know. I tried. Not possible for family. Dumbarses.

Its good information when we quit this hell hole and can find insurance options for next year while we are better off with no job and we take the year to reflect on our poor life choices of not leaving this company sooner.

Obviously, the OP doesn't have a clue about the ACA. ANY of the Obamacare plan premiums are substantially higher than Xerox (whose premiums are outrageously high). Run the number on their website to verify. Even with the highest deductible plan, you are still paying more per month for what amounts to "catastrophic healthcare coverage". No one employed at Xerox has opted for ACA plans. That's because all our incomes are above poverty levels. So we aren't eligible for subsidized rates. Not only do we pay for our family premiums but we also subsidize others that do not earn a living wage (or keep their earnings hidden from the IRS, such as cash transactions, money laundering 501c3 non profits or even 3rd party income transfers).

I do agree with statements #2 and #3 above. I guess 2 out of 3 ain't bad.

Thank your D leadership for that, BHO and the rest of the misguided leftist elites

Did you know premiums have gone up over 100% because of the ACA?

It used to cost $200/month to buy a policy, now its over $500. Why? Because I have to pay for people who take sh– care of themselves and buy insurance after they get hurt that must cover pre existing conditions.

Of course if you produce nothing for society the tax payer will pay $480 towards your policy.

I was recently unemployed and my share under the ACA for just insuring me was $698 a month!!! Sorry but that was not affordable. Found another job 6 weeks later with insurance.