The plan is still good as far as plans go. However, it’s definitely quite a bit worse than the last Spectra plan, and I don’t see how HR can look us in the eye and say otherwise. There are a few improvements - eg, money for psychologist ...and eye check-ups are covered separately and don’t have to come out of the allowance for glasses - which might be helpful for glasses-wearing people who need psychologists... lol. For the vast majority, however, those small wins will be greatly offset by the reduced coverage for dental and pr-scrip-ions. Not to mention that it sounds like most people had to use the majority of their 2.5% ESP match for Flex Credits, whereas we used to have enough Flex Credits to buy a week of vacation AND to take Spectra’s 5% match in stock.
This seems like very basic math to me... how the f--- does HR keep claiming this plan is as good as the old one when you look at it “overall”? I’d love to see a practical example where someone has ended up ahead in this scheme. I did the math for myself and I’m over $7,000 worse off per year than I was before from lower coverage and the ESP match changes. And that does not include factoring that merit was less than inflation last year, meaning I got a pay cut... and that I’ll be working 30 mins for free each day come January.
As annoying as this all is, it’s made worse by these a--hole messages we keep getting from corporate and HR claiming compensation is still basically the same overall and even better for “many”. I think that’s called gaslighting, which is appropriate given the industry we are in.