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I am on the fence about two insurance plans through Blue Cross and I just need a little input as to what people think is the better option. Both plans are HMOs...
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| I have 45k in my 401 the company is closing in a few months waht should I do? I'm out on workers comp now? |
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DW2020 | How come part-time employees don't qualify for employer's group health insurance plans? |
So they have to pay higher rates under individual plans, even though they make less, cause they're only part time. Is it any wonder why so many Americans do not have health insurance? |
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sarah314
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Its up to the employer whether or not part-time employees can be eligible under the benefit plan.
Many employers do choose to offer insurance to part-time employees, but the part-time employee is often charged a higher premium than a full time employee. Employers generally pay a large portion of the total premium - what gets taken out of your check is only part of the cost. Obviously the employer isn't going to pay as much out of their pocket for a person who only contributes part-time vs. a person who works full-time.
My employer does offer benefits to part-time employees working at least 20 hours a week. However, the payroll deduction for a part time employee is nearly double what a full-time employee pays. (Which I guess makes sense, since they are only getting half as many hours out of the part time people as the full timers.)
Examples of other employers that offer health insurance to part time employees are...Starbucks, UPS, Kaplan Test Prep. Other Yahoo users might be able to tell you a few more. |
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Insurance Pickle.com
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First of all group insurance costs MORE than individual coverage. That's probably why it doesn't make sense to you.
So, if an employer is willing to pay 10% additional for benefits (above their pay) for a full time employee, that amount would cost them 20% more for a part-time employee (figuring they earn half as much).
Again, group costs more. It may seem like it's cheaper, but that's because you're seeing the number after the employer has picked up the portion they're willing to pay.
That's why everyone is also under the impression that COBRA is expensive. COBRA isn't expensive, it's just that your boss was nicer than you thought because the difference between the COBRA rate and the rate while you were employed is the amount your employer was paying. Obviously once you leave the company they won't be covering a portion of the premium.
Hope that makes sense. I wonder why they don't too. Insurance isn't nearly as expensive as not having it and needing it.
http://www.InsurancePickle.com
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stannousmoney
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Unfortunately it's not that simple. In this particular case, the employer is probably trying to minimize their expenses, and health care is a huge expense to any employer. If they paid for everyone's health care, then they would make less money, which would make them less profitable (and/or their stock less attractive), and perhaps inevitably put them out of business. Then you'd have even *more* people without health care (and without jobs).
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Yo' Mama
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Because group plans often have requirements that an employee must be full-time to qualify. Part time employees often have a greater turn-over rate than full-time, which creates a paperwork headache for the insurance company which results in higher costs of administration. A good group plan relies on a relatively stable workforce to be successful and make a profit for the insurance company. |
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swflsteelerfan
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What company you work for? I work for Target in a Super Target store and work part-time and still get full time health benefits. |
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mbrcatz
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That's the way the plan was set up, by the employer. The employer CAN choose to cover part timers on their group policy.
And the only reason, why the individual policy is MORE expensive than the group policy, is because the employer is contributing a HUGE amount each month, towards the premium.
85% of Americans DO have health insurance. Half of the rest, don't want it. |
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