"Wal-Mart Memo Suggests Ways to Cut Employee Benefit Costs " 2005 http://www.nytimes.com/2005/10/26/business/26walmart.ready.html?pagewanted=all "Wal-Mart executives said the memo was part of an effort to rein in benefit costs, which to Wall Street's dismay have soared by 15 percent a year on average since 2002. Like much of corporate America, Wal-Mart has been squeezed by soaring health costs. The proposed plan, if approved, would save the company more than $1 billion a year by 2011." "Ms. Chambers acknowledged that 46 percent of the children of Wal-Mart's 1.33 million United States employees were uninsured or on Medicaid." an interesting Article, Walmart claims Healthcare raising by 15% a year back in 2005 under complete republican control...
Costco hasn't cut health care benefits, and they pay their employees much much higher rates than competitors... but they are still competitive with Sam's club (Walmart wholesaler)... funny that. Obviously they are doing something else wrong and need to cut costs to compensate.
This is a pretty good news that health care system has achieved rise of 15 % in last year. This is a good indication of future of people in country
Pretty good news that premiums have risen 15% according to Walmart? What about us small business who carry group coverage and pay 100% of our employees premiums? Since Obama Care we have seen our cost double. Never in 35 years of being in business has that happened. So what shall we do? Well here is one alternative; drop our group health care insurance and let employees fend for themselves with the plans that don't exist yet on "exchanges" that many studies show the premiums to be higher than the premiums for plans that now exist. And, if you think you will get a subsidy, you are misinformed. Whether it is cost-effective for an Employer, whether small or a large Corporation, is based on many variables. I suspect that most small employers that are not incorporated and pay income tax on "ordinary income"; will find it less costly to drop their group health insurance altogether as they won't be charged a fine if they employee less than 20 employees and don't get the same tax benefits as corporations do. So I can only hope you know what may happen to your health insurance, if you are employed. And, if you currently have no coverage, good luck getting a subsidy. They are mainly for those at the poverty level and it is based on an unreported formula that the IRS will use on "modified adjusted gross income" which will not take into account your monthly car payment, credit card payments, electric/gas/phone bills. So good luck!
