I am hearing from many older employees that the cost of medical is too high to go now. For those with kids in high school or college it is $20,000 to $30,000 a year for the family medical plan with the frozen subsidies. And, HR is saying to expect 20% increase year over year. Crazy system we have.
This post was buried in one of the threads on this board ( @VDD3xF7-hpv ). Can anyone confirm if this is true and are we really expecting 20% YOY increase in medical plans?
I cannot believe the cost... the company is not telling the true cost. I am at a subsidy and based on me paying 36% and it costing me more than $21K then the true cost is over $60K... come on.. no way. they are using funny accounting practices. Then the benefit connection call takers point me to the $2500 indemnity plan which cut the cost in half... That's what they want... you select a cheaper package they will pay. if you have health issues pick the best plan available.... you will likely get picked and they will be paying for it anyway.
Medical plan costs will never go down. Soon they will take it away completely from younger workers like they did with the pension.
Hans and crew are all taken care of don't worry.
If VZ gets rid of a significant number of older (whoops) "tenured" employees, their costs to supply insurance will go down. That alone is probably worth a few thousand per employee that takes the package.
OP, almost everything’s getting more expensive.
If there’s an item getting less expensive, it’s usually because either tgere’s no takers at that price or, it’s fallen out of favor, and there’s a superior alternative.
It was just on the news that Obama care rates are actually going down so I highly doubt it.