Boeing Cotes Healthcare Bill as Factor in Rising Employee Health Insurance Costs
Boeing Co. has announced plans to increase the price of its employee health insurance for the non-unionised workforce. This is apparently in response to rapidly rising costs, which are partly a result of the new healthcare bill. By 2012, employees under a certain type of plan will see their coinsurance payments rise from 10 to 20% up to the out-of-pocket maximum.
"The newly enacted health care reform legislation, while intended to expand access to care for millions of uninsured Americans, is also adding cost pressure as requirements of the new law are phased in over the next several years," wrote Rick Stephens, Boeing's Senior Vice President for Human Resources.
A Boeing spokesman said that spiraling costs have left them no other option than to share costs with employees on a more market-based level.
Other major corporations such as McDonald's Corp. have cited the healthcare law as factoring into the need to raise employee healthcare costs, or threaten to cut them altogether. Earlier this month 3M Co. announced that it would start phasing out healthcare benefits to retirees, again citing the new federal healthcare law as a factor.