Make sure you read how your salary is actually calculated for next years insurance premiums. My salary is actually below 100k but they put me in the 100k-250k category because they added my bonus I got this year, which put me just BARELY over 100k. Wow what happens if I get no or very little bonus come January? My pay wouldn’t be over 100k
This is ridiculous. Make sure you check your “2023 benefit compensation” pay in workday.
I never understood why employees have to pay different prices for the same health care service. Wells Fargo is not a government entity and since they are self-insured, they are just seeing how much money they can squeeze out of the employee.
The health insurance always costs more and covers less, every year, without fail. It’s a given. Plan for it.
No dependents, nonsmoker, 100k - 250k here. Looks like HRA premium’s just going up a little more than $10/paycheck? Am I missing something here?
Then looks like you'll fall below 100k for 2023, which would impact 2024 costs unless they move it down to 90k, then that would really suck. I'm sure you aren't alone, but they had to draw the line somewhere. There will always be a ton right above and right below
You’re missing the point here
I took a new role last week (promotion), and my base is 95k.
My bonus in my old job last year was 6k, with my 85k salary (91 total compensation up until last week)
So yes my new salary plus my prop bonus is 101,000 but I am not getting that big of a bonus for being new to the team. I doubt I will make over 100k all of next year.
Thats my point
Gee! Looks like my boss is doing me a big favor by keeping my income below $100,000!!!
He is such a great guy 😉!
The abortion vacations aren’t free.
Mine are going up less than $8/mo which translates to below inflation. Don't get the fearmongering here.
Hate to be harsh but it’s easy to understand. Your base 2022 taxable salary plus your bonus received in tax year 2022 (even though it’s for 2021) equals total compensation. Same as doing your taxes. It’s always been this way. That said yes the ever increasing healthcare costs are upsetting but they always are.
Bei Ling has more evil plan than this!
Your dependent also can no longer earn $800 company contribution towards HSA. That’s been halved to $400. Oh and annual deductibles and annual max out of pocket has increased for certain plans as well. We are getting nickled and dimed to he11
@bpl - let me do math 101 for you since you failed that course. 250x is 2.5x more than 100k. So yeah. The same premium for someone making MORE THAN DOUBLE than another person is a big deal
In what universe are benefit costs tax deductible? They are taken pre-tax from your income so they are absolutely NOT tax deductible
No… mine is $70 more a check.. $1794 more this year for the same plan and same dependents.. it’s not “just”
They posted the rates. You just need to do your own comparison with your pay slip.
For top tier plan, 100-250, it's a $16/paycheck more or $416 full year pretax. If I recall, the same plan two years ago increases almost $800/year. So in three years it's increased $1200. I think the lower income has gone down or stayed flat
How can you see your rates at this time? Open enrollment isn't even open.
Not much of an overall increase. Stop being a bunch of biznatches. Congrats for finally making the 6 figure club. The benefit costs are tax deductible for crying out loud.
Its really ridiculous. They do not take location into consideration either. Making 100K in SF is totally different than Des Moines. And putting people at 250K to pay the same as Chuck and his Merry Millionaires is abhorrent.
do we get a 12-13% raise to cover this. This is crazy, and this doesn't even cover really anything until you hit the cap for the HSA related plans.
groceries up like 40%
gas up 100%
rent up for me this year 20%
I'm going to need to move to Mexico soon to afford to live and just cross the border for work
It's always been this way. They take into account your total comp of 2022. That means your bonus you got in Feb 2022, not the 2023 bonus.
Same here! Sh***y!
@ bpl+1jiFMWzQ
Lol you would be mad too. And this scenario could happen at any of the levels.. the point is they are factoring in money that one hasn’t made yet and may not be Ben actually get paid over the next threshold
Make sense?
Wow! Maybe I should watch my pennies, too.Not!
I’m too focused on making as much money as I can.
I just reviewed my 2023 rates and was incredibly shocked to find a 13% increase in my medical costs. Every year that I work for this company, my usable income continues to decrease.
So you make over $100k this year and you are mad that puts you in the $100k to $250k category? SMH
This is so sad
Same! I’m scrambling to adjust finances to account for this increase.
I think it was on *profile and then go to *actions and you should see a benefits section with a “benefits salary”
Good luck
The next min wage increase, you’re right. The one where they exclude the majority of the company for “making over x amount”. How could I forget, plus that in addition to our fruitful merit increases… LOL
Cries in poor*
Where do you even find this in Workday? Why can’t the bank ever send us a direct link to something instead of sending 250,000 employees on a scavenger hunt?
Welcome to the land of inflation. Where we are all simultaneously rich and poor...but mostly poor. Don't worry though, they next min wage increase will definitely solve the problem.
And I literally just got this job last week so prior to last week, I was only making a little over 80k this whole year. And now I’m magically flung into this category with fictional pay.