Daily Archives: October 19, 2010

Thanks President Obama and Democrats in Congress Boeing Requires Employee to Higher Premiums

The new Affordable Health Care Reform Act Boeing announced on Monday that workers required to pay more for premiums and co-pays.  Boeing Senior Vice President Human Resources Rick Stephens wrote in  a memo to the company’s 90,000 employees said that was obtained by the Associated Press via Yahoo News:

“The newly enacted health care reform legislation, while intended to expand access to care for millions of uninsured Americans, is also adding cost pressure as requirements of the new law are phased in over the next several years,” wrote Rick Stephens, Boeing’s senior vice president for human resources.

Chicago based Boeing Corporation is the latest company to re-evaluate their health care coverage in light of the new law. Boeing joins McDonald’s Corp. reviewing their own health care coverage for their employees.

Spokeswoman Karen Forte said the Boeing plan is more generous than what its closest competitors offer, and the company was concerned it would get hit with a new tax under the law.

The tax on so-called “Cadillac” health plans doesn’t take effect until 2018, but employers are already beginning to assess their exposure because it is hefty: at 40 percent of the value above $10,200 for individual coverage and $27,500 for a family plan.

“We want to manage our costs so this tax doesn’t apply to our plan, but that’s down the road,” said Forte. “If this health care law hadn’t passed, would we be making changes to the health care benefit? Absolutely. For competitive reasons.”

Read it all.