McDonald's health plan does not meet the new standards as required by Obamacare. The law requires that 80 to 85% be spent directly on healthcare costs. The vast majority of the workers on the plan spend less than $5,000 per year on medical costs.
While reading the specifics of the plan I can honestly say it stinks, but it is a plan that seems to work for the employees since they are not putting in claims for medical coverage. For $32.30 per week the employees get $10,000 per year in coverage. Now, if you have a serious illness you will burn through that amount in no time, but for someone that doesn't have any major problems $10,000 is a good sum. I certainly use much less than that per year normally.
The real problem becomes that the "exchanges" will not be set up for several years, 2014 I believe, so almost 30,000 people may be losing their insurance at the end of this year. If not, expect to pay a great deal more for your Big Mac, because that will be the only way they can afford it.
McDonald's may not be only company that will run into this same problem, as other corporations such as Disney, CVS, Blockbuster, Staples, and Home Depot also offer the same type of plan; called Mini-med. This list is only the companies that one major insurer (Aetna) sells these plans to. How many other corporations use these plans with other insurance companies?
While I think almost everyone in the country agrees that medical costs in this country have gotten out of control, but I don't see how any can continue to argue that this is the proper solution. People are paying more because of the services that they are required to purchase; such as infertility treatments. Yet, the law also makes it so insurers can't charge women more, which means that men are paying for the additional costs of infertility treatments. Why does a woman who has reached menopause or has had her tubes tied have to pay for infertility treatments? She certainly doesn't need them. For those who are unaware, infertility treatments are very expensive; thousands upon thousands of dollars just to complete the testing to see what the problem is.
This is yet one more obvious reason that democrats that voted for this monstrosity are not running on this for their re-election.
read article here.
Rule 5 Sunday: Time For The Professionals
40 minutes ago