I saw that our deductible and out of pocket max are going up as if it didn’t already suck
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They should really stop referring to it as "health insurance" since the medical plan is not worth the paper it is written on. If there is any time in your life in which you need to seriously use it for yourself or your family then you can guarantee that you will be bombarded with huge bills for which the insurance did not cover. In that instance be prepared to cough up thousands upon thousands of dollars out of pocket.
In reality we are being asked to pay outrageous prices for health coverage that does not really cover much. This isn't "insurance"... it's an incredibly overpriced discount plan masquerading as health insurance. The health plan here is a gigantic scam...
@5hov That happened to me about 5 years ago. My promotion and raise actually ended up being a net pay cut.
My health insurance premium just increased 41% year-over-year since I crossed an arbitrary salary threshold. And guess what, deductible & out of pocket max increased too!
Today my wife broke into a rant about honeywell bragging premiums didnt go up.. yet our cost per year doubled after all said and done. She handed me an ipad open to a search for my job. Not a hint. 26yrs at honeywell and my wife is telling me to move on.
honeywell is self-insured and benefits are a profit center
I’ve hired on since Covid. Willingly. I did read the layoff board and peoples comments on Glassdoor. Thought a lot of the issue where in Honeywell plants. Well, it turns out the issues are in Honeywell offices as well.
Actively looking.
My exit interview will have three reasons:
- Workplace culture is toxic
- My benefits cost as much as my mortgage. I live in a modest home but the cost of benefits is borderline ridiculous. Wait. No, it is ridiculous.
- Hot desk open seating - WTF - this should have been brought up in the interview. My productivity has gone to cr-p. SMJ&J. It’s borderline comical as any given day in the office feels like I’m in a call center.
Pretty sure McDonalds has better benefits.
How about "we add over 1 billion a year to our retirement commitments. Which they mercilessly cut years ago. Backing now from commitments for retiree healthcare. They don't tell you how when the stock market was going gang busters how they skimmed the profits generated by the retirement fund to meet the quarterly financials. How the SEC hasn't shut down this Madoff ponzi scheme is remarkable.
Yeah but..... they always a yeah but! Yeah but what? We have adoption insurance. We have legal care offered (Not even sure what the heck that is) We have discounts on Honeywell products (Most are junk or recalled by some government agency for causing fires or not working)
Would you want a Honeywell smoke detector to protect your family knowing how this company operates?
Well - I got a $4K before tax “raise” when I left due to just lower premiums (and better coverage). When I expressed my shock to HR at the new company they told me that “we believe that benefit should be that and not the employees paying most of it”.
The house of cards was terrible looking back now.
Everything for DA and his friends. That’s why many including myself have already left. Honeywell is for a reason one of the most unpopular companies to work for.
Hands down worst benefits I’ve had in any company I’ve worked for.
My spouse’s oil company is half the cost of Honeywell health insurance. 401K match is much better and not paid out once a year.
Honeywell truly sucks. There is nothing good about it. No wonder all the HR senior management are leaving, they know things before the rest of us do.
Anyway, leave the company ASAP. I’m glad I did.
What did you think? That the company would absorb the increased cost? You must have been working here a very short time. Honeywell passed on ALL costs to Maintain HIGH STOCK PRICE and Executive bonuses. Been that way for 22 years
Life insurance just reduced from 150% to 100% of salary. (Probably where they got cash to retain other premium levels)
So no medical premium change in 6 years means they have been overcharging the last 5 years.
When I left, my cobra was 1400 a month. I found better insurance lower deductibles for half that. I always thought Honeywell used health insurance as a money grab.
Honeywell insurance was terrible 20 years ago, now ifs non-existent.
Honeywell prefers younger employees that dont worry so much about insurance.
Example -- honeywell removed insurance coverage from retirees ...retroactively.
Yes you heard that right. Think your retirement is safe? Nope.
Honeywell can cut you off at a moments notice.
What else will they cut?
https://www.southbendtribune.com/story/business/2017/04/25/honeywell-strips-health-benefits-from-retirees/46472511/
Well. At least the didn’t also raise the premiums.