Hi! I work for a competitor but recently had a friend leave XOM. Apologies in advance for this not being layoff specific. One of the reasons they left was due to health insurance costs, and the number quoted seemed quite outlandish. Is there any truth to paying 3500 a month (I think it was for an HMO) for health insurance at XOM?
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$3500???? I pay 2 million dollars a month. Damn you got a good deal.
3500 sound more like the out of pocket limit … that is, the most that your copayment can be.
$3500 x 12 mon. = $45000 per year. Would anyone think it is reasonable?
Yes, when you retire premiums double.
It is much better to go to Shell.
They subsidize the health insurance for retirees at 80%, meaning, that when you retire your premium doesn't go up at all.
People, we all know that in the benchmarks with other companies, EM chooses to place itself in the middle of the pack.
Guess what: that means that our benefits are AVERAGE. This includes health insurance too.
Go to Shell or Chevron. It's a no brainer. Better culture, better benefits, better business models, happier employees.
I can tell you this much. When you retire from xom, you are placed in a different insurance group, premiums go up and it’s really messed up. Better than nothing but certainly not great. I have actually purchased meds private pay cheaper than using my insurance.
Not true
Short answer is “no” it’s not true.
Health insurance is pretty mediocre at EM.
But for the POS2 option, which is the most expensive, for one individual with no dependents, it is more like $3500 per year (employee contribution).
That being said, if you add co-payments and co-insurances and assuming you visit the doctor quite often, expect another $3000 after maxing out-of-pocket expenses.
Finally expect providers to "verify" insurance coverage for every visit, because that how the POS works, everything must be verified by big brother.