Hope and Change---at McDonalds...Posted By Doug Matulis |
david elosser said:
"McDonald's Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul."
Basically, the new requirement maked them spend insurance premium money in a way that makes their program loose money.
"Last week, a senior McDonald's official informed the Department of Health and Human Services that the restaurant chain's insurer won't meet a 2011 requirement to spend at least 80% to 85% of its premium revenue on medical care. McDonald's and trade groups say the percentage, called a medical loss ratio, is unrealistic for mini-med plans because of high administrative costs owing to frequent worker turnover, combined with relatively low spending on claims."
As a case in point, look at what has been happening in California, which already has similar requirements in place for health insurers.
http://online.wsj.com/article/SB10001424052748703431604575522413101063070.html
BTW, colleges are in the same boat: "They escape the 80-to-85% requirement this year because of when their plans were negotiated, and some may seek a permanent exemption."
McDonalds said their health care plan has been in place for 10 years, and 85% of participants have less than $5000 a year. Other large companies like Staples, Home Depot and CVS also offer these "mini-meds" plans. In other words, these plans work, so the Democrats had to screw them up!
David E
This is the back-door plan for force the gov't plan on everyone. They should just hold on until Nov when the fools will be voted out of office and Obamacare can be repealed.

