15% of McDonald workers are bankrupt because of medical bills? :dubious:
You might try actually reading the link someday. From it (and that socialist rag, the WSJ, I might add)
Caps are hardly 100% of expenses, not to mention whatever copays there are. But this part was the best, and I repeat
They are not paying much out (as expected, from the chart I linked to on page one.) and this is the reason the new plan is so unfair to them. :rolleyes: I bet if they paid a bit more, or reduced premiums, they’d be in fine shape.
McDonalds is good at logistics. If they can bring on and pay all those low wage temps, they can handle their healthcare also.
Given your understanding of this, I presume that you buy insurance at the rental counter also - another good deal, right?
They say the same thing to their animals, then force them to. http://mccruelty.com
Hells bells, I didn’t have a catastrophic medical anything and it wouldn’t work for me, being diabetic, having migraines and on cardiac meds, and on actonel to keep my osteopenia from rolling into osteoporosis, my medication bill would not be covered by that little plan for more than a few months … hell, actonel is $25 per pill …and some of my other meds are just about as expensive. My not particularly optional hysterectomy last year cost $10K for the procedure, and then there was 2 days in hospital, medication and anesthetologist … at least I didn’t need chemo this time.
I know, poor people are just human pets who must be protected from their own bad decisions. Gotta love liberal douche thinking.
Look, the first week an employee starts at McD’s, if they pay the premium for this insurance, then they have the full coverage that week. That’s part of the idea of insurance–you pay a little over time to insure against pssibly not having that money in the future. The workers who bought the insurance agreed to it, so they apparently liked the deal.
Also, I’d imagine that some people bought the insurance for reasons other than the actual coverage, such as to avoid a lapse in coverage between parents plans, school plans, and/or long-term job plans.
They are selling a product as insurance that is in fact a profit center. That is perfectly legal. I simply point out it is a ripoff of the hourly workers.
Paul, nearly everything you buy is sold to you at a profit. Why do you let yourself get ripped off like that? Maybe no one should be allowed to sell anything to you to avoid you getting ripped off.
So you are saying we ought to exempt Big Business from the rules because they can be trusted?
I went over to the Kaiser Family Foundation to take a look at what I might qualify for under the healthcare law if I were a single McDonald’s worker (using 2014 dollars). Generously assuming I’d make $10/hour (I believe shift managers make about $9.81/hour) I calculate my yearly salary at $20,800 – or about 181% of poverty.
Turns out I’ll be on the hook for a premium of about $1127 a year, or about $21 per week. That’s $11 less a week than I’d pay for McDonald’s mini-med benefits. But instead of yearly maximum benefit of $10,000 I’d have no maximum benefit at all since maximum benefits are no longer legal. And I’d only have a maximum out-of-pocket expense of $2,083. This plan – a ‘silver’ plan under the new law – is going to be quite a lot better than McDonald’s …
If the WSJ article is to be believed (remember when you could believe the Journal?) McDonald’s want to be exempted from the rules so they can continue to ripoff the workers.
Are you saying McDonalds is making a profit off of offering this mini-med plan to its employees? As a benefits manager I find that very hard to believe. And if it’s true, I’d love to find out how they do it. As I said above, health care benefits are a major expense for similar companies who offer similar plans.
We have a mini-med plan for certain segments of our employee population, and the reason it’s there is so we can get people to work for us. We’re not making money off it by any stretch.
When I worked for Microsoft the insurance was the best ever. I can’t imagine how it could possibly have been better.
No money out of my paycheck, could go to any Dr., no co-pay for visits, and they paid 100% of prescriptions. Both my son and myself could go to any Dr any time with no money in my pocket.
Despite the very relevant information contained within your post I have decided to ignore it complete because death is tasty.
Not to mention that it is a PETA site and I’ll eat damn near anything just in the hopes it pisses those fuckers off.
How could they not make money? They are paying out less than 80% of the amount taken in. They would be complete idiots if they were unable to administer a plan for less than 20%.
As stated before, German and Chinese companies pay out much more.
Are you sure you are comparing apples to apples Paul?
Also, I don’t think it matters how much McD’s makes–if the worker chooses to buy it, then it’s not a rip off.
The insurance companies that totally lose it if you suggest that they should operate on less than 20% profit and admin are the very first to bleat and bitch about how inefficient government is.
:dubious: People chose to invest with Bernie Madoff.
Excellent point. If the hourly workers are outsmarted by management, it serves them right. Cheat them of coverage and let them die. :rolleyes:
Anyone should be allowed to sell anything at all and claim it is health care insurance. :rolleyes:
Yes I realize that this is the Libertarian straw man talking now. There are consumer protection laws for a reason.
I’m sure in Libertopia, everything will work out just great though. And thanks for using the “liberal douche” meme. I won the pool!
I’m continually amazed that people who think its immoral for a big guy to take money from a little guy have no problem with smart people ripping off dumb people.
I don’t think the Bernie Madoff or consumer protection references are on point here. Paul and EP are claiming that the insurance is a rip-off even if McD’s performs completely as promised. Bernie clearly did not perform as promised, and consumer protection is similarly largely geared to protecting consumers from fraud.
Look, call me crazy, but I think all humans should be treated equally and respected as humans. I realize that at the SDMB that puts me in the minority on certain issues.
But the insurance is a rip off.
It pays practically nothing and costs a lot. All the mini-med plans do is illustrate the flaws in our health care system. They should be illegal.