Tuesday, October 19, 2010
Obamacare Cost Increases Hit Boeing Employees
How big is the first bite? AP reports:Deductibles, the share of medical costs that employees pay annually before their plan kicks in, will go up to $300 for individuals, an increase of $100. For families, the new deductible will be $900, an increase of $300.
In addition, Boeing is instituting a copayment of 10 percent after the deductible has been met. The copayment will rise to 20 percent in 2012.
The hike in the deductible is a hit, but the copayment is big money, and the 20% copayment that kicks in next year will almost certainly devastate some families with high medical bills.
Remember the president's "guarantee": You could keep the insurance you had if you liked it. Unless the president meant that you could keep it at a much higher cost, the president's "guarantee" --made over and over again-- was an obvious lie when it was offered, and proof of that is arriving every day.
Again, this is just the first bite of Obamacare. "Looking ahead," the St. Louis Business Journal reported a Boeing executive as explaining, "the company is working to manage its programs now so it doesn't hit a threshold in 2018 that would trigger a 40% excise tax on the value of the health plans."