"Here's a pot of money, go shop." A major change is underfoot in the way firms provide employee...

"Here's a pot of money, go shop." A major change is underfoot in the way firms provide employee health coverage, as Sears and Darden Restaurants - instead of offering insurance - prep to instead give workers cash and let them choose coverage from an online marketplace. WellPoint (WLP), AON, and Towers Watson (TW) are placing bets on the new model sticking, while UnitedHealth (UNH) is taking a wait-and-see approach.

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Comments (9)
  • Freedoms Truth
    , contributor
    Comments (1044) | Send Message
    Translation: They want to dump employees onto the Obamacare 'exchange'. So much for the 'you get to keep the coverage you had' promise.
    27 Sep 2012, 12:40 AM Reply Like
  • BTM
    , contributor
    Comments (486) | Send Message
    You beat me to the punch.


    Well said.
    27 Sep 2012, 01:39 AM Reply Like
  • Wyatt Junker
    , contributor
    Comments (4498) | Send Message
    Depends on if the penalty is greater than the so-called stipend.


    The poor employers. When did they get into the nanny business?


    And when did the 535 DC dillweeds decide to be our parents?


    Will we ever be left to be adults ever again, free to do as we will?


    I never knew fascism would be so popular, especially after the failure of the USSR and the reuniting of Germany. But, here we are, americans picking up their hammers and sickles.
    27 Sep 2012, 01:00 AM Reply Like
  • 1980XLS-2.0
    , contributor
    Comments (528) | Send Message
    They will just use the money to buy I-Phones
    27 Sep 2012, 01:56 AM Reply Like
  • orangutan
    , contributor
    Comments (261) | Send Message
    I think every reader of SA and every beginning student of economics will agree that these unfortunate employees will have much less power to get a good deal in the marketplace of health insurance and health care because they are now on their own. Their employer, bringing a package of thousands of employees to the table, had more leverage to negotiate on their behalf. In the future, these individuals will have much better chances in the marketplace if they all associate together collectively (that word! what a horror!) as a SINGLE PAYER. Of course, Ayn Rand wouldn't like that one bit.
    27 Sep 2012, 03:30 AM Reply Like
  • anglhistorian
    , contributor
    Comments (99) | Send Message
    I agree with orangutan and freedom's truth, both of you.
    I am tired of the corrupt "political class" and a corrupt business world.
    As a retired person who did all the right and responsible things personally and financially in my life, I feel betrayed, and exploited by both the "political class" and the dominant persons in the business world.
    I think they all loathe and hate people like me who have carved a tiny niche in the economic system to make a decent end time in my life.
    They would wish me to just go away and die- the sooner the better.
    7 Oct 2012, 12:16 PM Reply Like
  • reapwhatusow
    , contributor
    Comments (2) | Send Message
    I think you're all misunderstanding the power of the Health Insurance Exchange. Instead of each employee being roped into one of 3 to 4 plans at the most, from a single carrier, they will now have the option to choose from a plethora of plans, from myriad insurance carriers and still get group rates which the employer will in most cases continue to subsidize...please explain to me how that is worse than a group plan?! More options, better coverage and continued power to leverage as a large group. Pretty good plan to me.
    23 Oct 2012, 12:59 PM Reply Like
  • Freedoms Truth
    , contributor
    Comments (1044) | Send Message
    Problem: Government over-regulation is forcing all that 'choice' to end up being no real choice at all. An example is how the regulations on insurance have more or less destroyed high-deductible health insurance. They return less than 80% in healthcare but are lowest cost option for many people.
    28 Oct 2012, 12:02 PM Reply Like
  • reapwhatusow
    , contributor
    Comments (2) | Send Message
    I think you're all missing the value behind the insurance exchange. Rather than being roped into one of 2-4 plan options with a single insurer, if your employer moves to the exchange you will now have myriad plans from a plethora of carriers that will better fit your personal needs. Not everyone is married with 2.5 kids and in good health! And not all doctors are accepted by that single carrier. Exchanges offer so many more options while companies can continue to leverage as large groups because so many employers are going to be moving in that direction because of cost savings. Now please explain to me the problem with more options, better coverage and more money for an employer to drop in your pocket instead of your group benefits plan?
    23 Oct 2012, 01:01 PM Reply Like
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