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UPS Health Benefits Shock for Retired Union Employees
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<blockquote data-quote="Bagels" data-source="post: 1077904" data-attributes="member: 43436"><p>I'm uncertain as to what you're getting at. Ms.PacMan was responding to IslandFox, who ignorantly blamed UPS's attempt to escalate retiree premiums on ObamaCare. I've yet to see any statistics regarding the number of 19-26yo UPSers added back to their insurance, but nationally, it's just over 10%. One of the reason's the number's so low is that 19-26 is part of an age bracket with VERY LOW health care costs, thus many are able to purchase insurance cheaply on the open market. Given the low or no premiums for UPSers, I suspect the percentage is higher, but given the LOW costs of insuring these people, it's an ignorant assumption to blame this provision on UPS's retriement premiums.</p><p></p><p>Obviously, older adults account for the HIGHEST health care costs. And the US population is aging, with massive numbers of baby boomers retiring. Thus, it's unsurprising UPS is seeking to recover some of its cost - although I agree the number tossed out is a negotiation tactic. That said, retiree health insurance is a burden on many companies, and has been a contributing factor toward many going bankrupt. Few companies offer it these days, and the ones that do typically demand premiums near (or even above) what UPS proposed. Because of the strength of the union, I wouldn't expect UPSers to pay that amount, but I would expect them to endure significantly hikes. But they should be grateful they have it.</p></blockquote><p></p>
[QUOTE="Bagels, post: 1077904, member: 43436"] I'm uncertain as to what you're getting at. Ms.PacMan was responding to IslandFox, who ignorantly blamed UPS's attempt to escalate retiree premiums on ObamaCare. I've yet to see any statistics regarding the number of 19-26yo UPSers added back to their insurance, but nationally, it's just over 10%. One of the reason's the number's so low is that 19-26 is part of an age bracket with VERY LOW health care costs, thus many are able to purchase insurance cheaply on the open market. Given the low or no premiums for UPSers, I suspect the percentage is higher, but given the LOW costs of insuring these people, it's an ignorant assumption to blame this provision on UPS's retriement premiums. Obviously, older adults account for the HIGHEST health care costs. And the US population is aging, with massive numbers of baby boomers retiring. Thus, it's unsurprising UPS is seeking to recover some of its cost - although I agree the number tossed out is a negotiation tactic. That said, retiree health insurance is a burden on many companies, and has been a contributing factor toward many going bankrupt. Few companies offer it these days, and the ones that do typically demand premiums near (or even above) what UPS proposed. Because of the strength of the union, I wouldn't expect UPSers to pay that amount, but I would expect them to endure significantly hikes. But they should be grateful they have it. [/QUOTE]
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