Look at how insane the health insurance costs are. Specifically the difference between lowest earners and highest as a portion of income. Honestly ridiculous, just charge us X% of our salary based on who we insure or plan we choose. It’ll make everything cheaper for those of us making under 500k/year and actually make our salary a meaningful number. Honestly crazy that we don’t pay for the full timers making under 50k. I know this isn’t popular with the commenters who follow Q but really should be. Pooling risk is how we get lower premiums, get more buy in by making it too good to opt out of not too high that they’re paying for the opportunity to work here
21 replies (most recent on top)
Everyone down-voting this post should get out their checkbook and start writing. Our good citizens shouldn't be paying a dime for criminals health care.
Inflation impacts only middle-class employees, never impacts Charlie and his cronies. Wells Fargo has a class society between haves and have-nots.
As I read through the comments some of you may remember that it was former CEO John Stumpf who was among the first to significantly alter our healthcare benefit packages. His theory was why should the bank pay out premium benefits and absorb these costs when team members are not taking care of themselves. Basically, let them pay for it. I mean when I started the benefits were outstanding. His theory has continued in some form since the initial reductions and continues to be a pain point in 2023. This has been going on for a long time.
Health care costs increase every year. If you know anyone that works in a hospital, just about the number of illegals that hit the ER each year and pop out babies with a 3 day in patient stay. Those costs aren't absorbed, they get passed down to all other paying subscribers. Sad that the elderly can't get the care that the illegals get. Guess I need more DEI training
Coming from another big bank the health care "penalty" isn't bad at all. Prior Bank punished you the year after you went over $100k and your insurance rates increased something like 70% (99k was like 5k a year for family and then up to 8.5k for 100k)...You also lost other benefits such as EAP benefits and others regarding childcare subsidies...thus when I came to WF I was very happy with the benefits comparatively..
If you get a raise that pushes you from one “bucket” to the next you can essentially make less money after the pay raise. I don’t understand how people don’t understand that.
So you're saying that the higher earners don't pay more and the lower earners don't pay less?
Just a couple years ago, everyone paid the same on the same plan regardless of comp. So, yes, my math is actually very good.
How about if insurance wasn’t tied to our jobs? It’s a scam to hold people to jobs rather than trying entrepreneurship.
Our insurance options are not good. I pretty much pay for my own healthcare out of pocket, so I just don’t go when I’m sick, only preventative stuff.
The company needs to go to a health screening model where based on your level of health and fitness is what you pay for your cost of insurance. I’ve had this model at other companies and it was very effective in getting people to change their unhealthy habits and costs the company and employees less. If you work hard at keeping healthy, why should you pay a higher premium? Motivate people to change and get costs down.
@oje+1pt4mIeQ You have some incredible math skills for a bank employee. Hold on to your job with all you’ve got pal.
@sqo+1pt4mIeQ Basically your post needs to say “I got mine, you get yours.” Way to go to help the unfortunate who try their best but can’t move up the economic ladder. Sounds like a great society you live in.
I shouldn't have to subsidize other people's bad decision. if you want to be a highly compensated employee then work for it like I have.
Ok idi$t. You clearly can’t do basic math. The premium as a % of salary goes up the higher your comp, in other words the cost share is much lower for lower earners and subsidized by higher earners - as it should be.
There used to not be a disparity at all. So, seems tye new system is better in your eyes. To say our insurance is less than HD is a little laughable. It's still great insurance and I'm glad we have options.
I'd argue that I'm much healthier than the average employee but I have to pay the same or maybe more than a low income poor health person? How does that work? I'm basically subsidizing the fat and lazy, but I just accept that fact.
It's completely ridiculous that health insurance is tied to work at all. It shouldn't be. I can get all kinds of other insurance on my own in a competitive marketplace and health insurance should be no different. Then changing jobs wouldn't impact who my doc is, I'd have way more plan options, and when looking for a job the employer could simply list how much 'health care bucks' they provide annually so I can compare the company benefit apples to apples across employers rather than just reading "full medical/dental/vision!!" in every job posting which means absolutely nothing. Best plan ever? Worst plan ever? No idea based on job postings. We need to decouple care from work.
I am looking to work at a place like Home Depot alongside my job at Wells Fargo. The big box stores have better health plans for cheaper. I pay an insane premium along with a super high deductible and end up never having benefit of the health insurance.
I respect where you are coming from OP, but do think all employees should pay the same amount of money for the same employee benefits, and Wells Fargo should “man-up” by raising the wages of those employees who are in the lowest brackets. If Wells Fargo can afford to buy back $30 Billion worth of company stock in the next 3 years, they can afford to pay their lowest- wage employees more than $18 per hour.
Hi @qoi+1pt4mIeQ, OP here—I am a higher earning employee earning healthy 6 figures for the past 10 years but not earning 500k+…it’s still wild that a person who likely makes less than I do thinks the way you do. I guess that’s the type of thinking that got us here.
Oh you poor, poor highly compensated employees. It's so terrible that you have to pay a slight bit more to stay healthy. Especially since you can easily afford to eat higher quality food, have lower stress, and can survive economic uncertainty with your savings.
Sc--w the little guys so your bank account can feel a little bit bigger. Ask what your country can do for you, only you, and nobody but you.
I have an idea, the company can subsidize more for the lower earers instead of putting the burner on us higher earners. my premiums are going up over 25% next year.
Your view is popular among the chronically downtrodden, selectively-communistic types, but it's not good policy to reward people's lack of accomplishments by giving them things for free. It completely zaps their motivation to do better for themselves.
If you spend less time feeling sorry for yourself about what you could have for free instead of just talking control of your life, you'll be much better off.
I find that most people that want free things in life grew up without a father. They grew up watching their mother get govt freebies while hearing her complain about "rich people" and how she's not getting enough freebies. This, combined with not having developed that sense of 'man' - the sense that says you don't need a daddy as an adult to take care of you. It's a near-hopeless combo.
Life isn't fair anywhere on the planet, never has been, and never will be. Find your strengths (identifying potential freebies is not a strength), and leave the rest behind.