Premiums Rise= More Profit for Fred

Discussion in 'FedEx Discussions' started by MrFedEx, Sep 27, 2011.

  1. MrFedEx

    MrFedEx Engorged Member

    The latest phase of Profit-Service-People will be revealed to you shortly as your manager tries to explain why your insurance premiums are going to rise sharply. Isn't it a strange coincidence that just after FedEx announces disappointing profits, your medical premiums shoot straight through the roof? What an excellent way to boost that faltering bottom line---through your employees.

    Remember, there willl be a "pay adjustment" in March, so don't feel bad!! The puny raise you get will still cost Fred only slightly, and he gets from now until March to fleece you for those additional premiums.

    For you doubters and Purple Kool-Aid drinkers out there, please remember that FedEx is self-insured, so they have an incentive to not only raise your rates, but to deny you care.

    That Fred, always thinking of us and not himself. How did we ever get so lucky?
     
  2. vantexan

    vantexan Well-Known Member

    You beat me to it. Not only are monthly premiums going up, but there will only be two options to choose from. Premier Choice is gone. The better plan has a $1000 annual deductible. The other is $5250. I'm hoping they're looking to offset the cost of topping us out faster. Can deal with it with a substantial raise. But if it's another small raise this will really hurt with the regular medical check-ups. Quite a few predictions out there that Obamacare would cause our rates to spike. Remains to be seen if this is a FedEx thing or if many companies are having to do this.
     
  3. bbsam

    bbsam Moderator Staff Member

    Companies have been doing it for years anyway, haven't they?
     
  4. vantexan

    vantexan Well-Known Member

    Not this one. But hey, while standing in line for my powerpad and printer this morning I saw info posted on our 401k and portable pension. They are telling us that our retirement plans reflect their commitment to P-S-P. It's the new normal. Whatever we get we'd better be happy with because it's better than nothing.
     
  5. klein

    klein Für Meno :)

    It was just on CNN that health insurance went up. From 13000 something to over $15000 something for a family of 4.
    Someone has to pay it.
    Thanks to more people being obese and overweight (you do know that the death rate for obese people is now larger then the death rate of undernourished people, basically more people are dying in the western world being overweight, then those in Africa starving) !

    Also a thanks to the young people who won't buy health insurance, because they don't need it. That keeps rates higher, as well.

    So, don't think Fedex is the only company, and everyone is basically effected with higher rates.
     
  6. MrFedEx

    MrFedEx Engorged Member

    Maybe we should move north, eh? GST for everyone!!
     
  7. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Not everyone.:happy-very:
     
  8. klein

    klein Für Meno :)

    Not yet, but UPS will make up the $2 K difference in the new contract, and who knows how much healthcare will rise next year, too ?
    The old are getting older.....
     
  9. vantexan

    vantexan Well-Known Member

    Should people be forced to buy something they don't need? Younger people on average have less money too.
     
  10. vantexan

    vantexan Well-Known Member

    Maybe we should move south, si? $20 doctor check-ups, $100 a night hospital stays, pay as you go.
     
  11. MrFedEx

    MrFedEx Engorged Member

    Degree from the University of Guadalajara? Thanks, but no thanks.
     
  12. vantexan

    vantexan Well-Known Member

    Many doctors in Mexico, Central and South America got their degrees in the U.S. and Europe. Every large city in Mexico has at least one hospital that's at First World standards. And medical tourism has long been established south of the border. I've known people who got first rate dental work in a number of cities on the border. Depending on who you ask Mexico is either the 11th or the 15th largest economy in the world. In spite of the sensational headlines if you aren't in the drug trade you are highly unlikely to experience crime. One thing is for certain, alot more people are going to head south with the kind of prices we're being forced to pay in the States. By the way, Guadalajara is a world class city with everything available that you have in the States, with one of the world's best climates.
     
  13. MrFedEx

    MrFedEx Engorged Member

    If you say so. Do the locals get the same standard of care as the ex-pats and medical tourists? Actually, I hear India is the centre of medical tourism right now.
     
  14. vantexan

    vantexan Well-Known Member

    Actually the Mexican gov't has a social insurance plan that costs very little that meets most medical needs of it's citizens. You'll have to sit in line with alot of other people, but even expats are allowed to buy into it. India is definitely a major medical tourism center but anywhere there are excellent medical facilities at reasonable prices has seen growth. Thailand is a big center. Guatemala City has become popular. Costa Rica too. But back to Mexico. Walmart, Sam's Club, Costco, Home Depot, and many more companies are all over Mexico now. Pretty much all our fast food restaurants are there. Mexico has built many new toll highways comparable to our interstates that make it possible to travel quickly around the country. There are multiplex theaters playing American movies in English with Spanish subtitles in all the bigger cities and many smaller cities. That includes American owned Cinemark theaters. Sirius satellite radio works all the way to Guatemala. And Shaw Satellite out of Canada covers the country and they have all the American channels. There are plenty of places where a single guy can get along fine on less than $800 a month and a couple with $2000 a month retirement income can be very comfortable. It's not perfect, but hundreds of thousands of Americans live in Mexico, tens of thousands more live in just about every other Latin American country, especially Costa Rica and Panama. Depending on where you live you can reduce your living costs by 50 to 75%. That's an investment anyone can come out ahead on.
     
  15. klein

    klein Für Meno :)

    I agree with Van above.
    Something serious to think about once I retire, or atleast live there for 6 mths per year.
     
  16. Mr. 7

    Mr. 7 The monkey on the left.

    When I was in Cabo for a week, I was surprised that a lot of the local TV channels were in English w/spanish subtitles.
    That's where I learned "Lo sieto". I use that a lot now.
     
  17. SmithBarney

    SmithBarney Well-Known Member

    I don't care how you spin it, the health plan at FedEx is designed to make FedEx money, I would venture to guess they are figuring out how to force us to take the "govt" plan eventually. I can go independent and buy a plan from BC/BS for 50% of what I pay FedEx to administer my plan.
    Having been through pretty much the entire system this year, and having people shocked at the co-pays and out of pocket we are required.
    Our plan is shotty to say the least. But at the end of the day I'm paying for my benefits, not fred(no matter what the propaganda says) It'll do for now, unfortunately family health is more important and I am stuck for a while.
     
  18. quadro

    quadro New Member

    Many (most?) people won't see any increase in their premiums next year. Mine is changing by exactly $0. Also, FedEx doesn't administer the health plan so if something is denied it's due to Cigna, Anthem, or whoever you are covered by.

    Copays, co-insurance, max out of pocket is going up but premiums aren't. And perhaps it has something to do with the legislation that's out there about health care and the 100's of millions that FedEx spent on health care. Either way, health care costs are completely out of control.
     
  19. quadro

    quadro New Member

    Premiums are not going up. If you have the middle plan now, the one you are calling premier choice, i think it's called choice plus, and change to the premier plan, your premium will go up because you are going with a higher plan but the premium for premier is going to be the same next year as it is this year. So if you already have that, you won't see an increase.

    The deductible isn't $1000 for the better plan. It's $300 per person/$900 per family and I think you've got the deductible wrong for the lower plan. Copays and co-insurance are going up as is maximum out of pocket.
     
  20. vantexan

    vantexan Well-Known Member

    Was told by mgr that there will only be 2 options next year. Better plan will have a $1000 annual deductible, other one $5250. I can only go on what I was told by mgr who had conference call about those benefit changes. If it's considerably less great, but am still going to have to pay more. May not matter much to you, but those of us with considerably less pay than topped out employees or management have to pay same prices as you. Just another reason some employees expect to get paid for any work required of us.