Flex Benefits Enrollment

Discussion in 'UPS Discussions' started by IE_49er, Oct 27, 2006.

  1. IE_49er

    IE_49er De-Lurking

    Our district is in the middle of the Fex Benefits enrollment. (This is mainly for the non-union folks I think.) My option 2 health for my spouse, 3 kids and I went from:

    ___2006________ 2007_____ % Change
    -$9797.00 __ -$10309.00 _____ 5.2%

    My Flex Credits:
    __2006_________ 2007 _____ % Change
    $10253.00 ___ $10377.00 _____ 1.2%

    Our current inflation rate is somewhere in the 3.7% range. So, not only have the benefit levels again been adjusted to reduce expenses to the company, but also the cost of the benefit to the employee has increased. Adjusting the 2006 numbers by the inflation rate, the 2007 option2 should have cost $10159.49 and the 2007 Flex Credits should have been $10632.36. Like this:

    ________2006(adj)______ 2007_________ Diff
    Opt1 __ -$10159.49 __ -$10309.00 __ -$149.51
    Cred ____$10632.36 __ $10377.00 __ -$255.36
    ___________________________Total: -$404.87

    Did any of you realize that your benefits cost that much more? It is like a 1% pay cut for someone that earns $40,000 a year. I didn't print any previous year's numbers, but I would be interested in seeing the trend if you did.


    P.S. The attachment is a screen shot from the web site explaining what is changing.:wink: