21–30 of 88 posts
From a pure cut-throat capitalist perspective, this seems like a stupid move. Teams like this are not easy to replace, and Disney has plenty of money.
From a pure cut-throat capitalist perspective, this seems like a stupid move. Teams like this are not easy to replace, and Disney has plenty of money.
Is this related to the thing where the bill they passed is paying out more as unemployment than people would be making if they kept their jobs? It's possible they know exactly what they're doing, are doing everybody a favor, and will just hire them again when everything opens back up.
I'm from a country with public health care, so this comes as an interesting shock - would employees immediately lose health benefits if made redundant / fired etc? Seems to incentivize getting rid of people when they need healthcare the most (eg "I have cancer" -> "Look, we're going to have to let you go, your performance the past few months hasn't been up to scratch"). I assume there'd be a bunch of health related a…
So yeah people totally lose their health care when they lose their job. Typically it runs through the month and then you’re on your own. You can by law keep buying the same plan at full price (employers typically pay between 50-80 and sometimes up to 100% of the premium). However, when you get sick that rate doesn’t go up, so there’s no incentive from your employers standpoint to fire you when sick. Because of the “l…
Plus, its tax incentivized in three different ways.
- The employer can deduct it as a business expense, reducing corporate profits on which they have to pay income tax. In fairness, wages work the same way...
- ...but! The employer doesn't have to pay payroll tax on the amount it adds to their payroll.
- And while the employer puts it on the employee's W2, it doesn't contribute to their taxable income.
Dodging two kinds of income tax and payroll tax means that it works out to be way cheaper for a company to buy health insurance for their employees than it would be to raise their employees pay enough that they could buy the same insurance themselves, and that's before the company leverages its purchasing power to get good deals from insurance companies. It's an absurdly strongly incentivized system.
Earlier quoted context omitted.
So yeah people totally lose their health care when they lose their job. Typically it runs through the month and then you’re on your own. You can by law keep buying the same plan at full price (employers typically pay between 50-80 and sometimes up to 100% of the premium). However, when you get sick that rate doesn’t go up, so there’s no incentive from your employers standpoint to fire you when sick. Because of the “l…
Large employers typically self-insure, including a large majority of companies with over 500 employees [1]. You might see, say, Blue Cross on your card, but they’re just administering - the actual payments to doctors, etc. are in fact coming from your company. Sometimes the company will still show a percentage of “premium” that they are covering; it’s not a real premium in that case, just a percentage of the average…
Earlier quoted context omitted.
So yeah people totally lose their health care when they lose their job. Typically it runs through the month and then you’re on your own. You can by law keep buying the same plan at full price (employers typically pay between 50-80 and sometimes up to 100% of the premium). However, when you get sick that rate doesn’t go up, so there’s no incentive from your employers standpoint to fire you when sick. Because of the “l…
Large employers typically self-insure, including a large majority of companies with over 500 employees [1]. You might see, say, Blue Cross on your card, but they’re just administering - the actual payments to doctors, etc. are in fact coming from your company. Sometimes the company will still show a percentage of “premium” that they are covering; it’s not a real premium in that case, just a percentage of the average…
I'm from a country with public health care, so this comes as an interesting shock - would employees immediately lose health benefits if made redundant / fired etc? Seems to incentivize getting rid of people when they need healthcare the most (eg "I have cancer" -> "Look, we're going to have to let you go, your performance the past few months hasn't been up to scratch"). I assume there'd be a bunch of health related a…
We have a law called COBRA that lets you continue your employers coverage for up to 18 months I think it is. You have to pay the entire premium including the portion your employer paid so the price tag is usually a shock.
Then, you get the coronavirus. Pretty bad. You’re young, so you live through it, but those days on a ventilator weren’t cheap. But unfortunately for you, the ambulance driver took you to one of those hospitals that sues its patients for non-payment. You should have told them to take you to a different hospital as you were gasping for breath.
In any case, you now have a medical debt of $40000 for a week or two of ICU. You have to file for bankruptcy. Unfortunately you’re young, so you’re barely into the principal on the house. So that’s gone.
Luckily, you still have your car. At least you can get to interviews for the few jobs left in the recession. But it’s sure hard to show up looking clean without a shower. At least now, you’re eligible for public insurance.
I'm from a country with public health care, so this comes as an interesting shock - would employees immediately lose health benefits if made redundant / fired etc? Seems to incentivize getting rid of people when they need healthcare the most (eg "I have cancer" -> "Look, we're going to have to let you go, your performance the past few months hasn't been up to scratch"). I assume there'd be a bunch of health related a…
So yeah people totally lose their health care when they lose their job. Typically it runs through the month and then you’re on your own. You can by law keep buying the same plan at full price (employers typically pay between 50-80 and sometimes up to 100% of the premium). However, when you get sick that rate doesn’t go up, so there’s no incentive from your employers standpoint to fire you when sick. Because of the “l…
Sorry but that's just wrong. Most large employers and even many smaller shops "self-insure" meaning they are footing the bill. Your health insurance company is just a front/conduit/paper pusher. In those cases, it is your employer who is ultimately deciding your prescription is not in the formulary, your jaw surgery is cosmetic even though you suffer from chronic headaches, etc. It is also your employer who sees that employee number 438 is costing them >> 1M/yr in covered medical bills (cuz cancer). They have every incentive to suddenly realize you are not working out for entirely unrelated (and fake) reasons.