Lucky Wal-Mart employees lose their insurance…

Fantastic!

Walmart, the world’s largest retailer, announced Tuesday that it would no longer offer health insurance benefits to its 26,000 part-time workers.

Nobody likes losing any kind of benefit at work. But for the particular Walmart workers in this case, the end of employer-sponsored insurance could actually turn out to be a great thing.

Employer coverage is too expensive for many part-timers

Same author in 2011?

For the employer, dropping coverage is a pretty decent deal: A company would see its health care costs reduced by over 40 percent. They don’t drop to zero, however, since the employer would still be on the hook for the fines that come along with not offering coverage.

But for the employee, it’s a pretty lousy deal. Lockton ran the numbers, using data on how much employers pay for health insurance now and how much health insurance on the exchanges is projected to cost.They found that employers foot a significantly larger chunk of the insurance bill than the federal government would, even with the new subsidies they’d receive. The firm predicts their premiums would increase anywhere from 79 to 125 percent if they lose employer coverage and have to go to the exchange. There’s such a big variation because exchange subsidies vary by income: Those who earn less are eligible for a larger subsidy.

That doesn’t mean companies won’t necessarily do it; there certainly is a lot for them to save. It does, however, add another wrinkle to the discussion, where employers would need to explain why their workers’ premiums would see massive increases.

And of course we all lose

If Walmart doesn’t offer her insurance, the Kaiser Family Foundation’s subsidy calculator shows that she qualifies for a $1,751 subsidy from the federal government to help buy coverage on the exchange. With that financial help, she can buy insurance for as little as an $7 per month. As a low-wage worker, she gets some of the most generous financial help.

That financial help come from us…

The loser in the Walmart decision is the federal budget

Yes, there will definitely be some people who earn more at Walmart and get less generous subsides on the exchange. They could see their premiums increase with this decision. But given that this decision applies only to those who work fewer than 30 hours per week, they are likely lower earners who will be helped rather than hurt.

The Dale Jackson Show (WVNN) podcast – 10-07-14

Election Day At 1st Family Mortgage!

It’s Election Day! The Dale Jackson Show will be be broadcasting LIVE from 1st Family Mortgage’s S. Memorial Pkwy location from 6-9 am. Stop by on your way to work or the polls to see Dale Jackson and have breakfast for free compliments of 1st Family Mortgage!
Photo: Tomorrow's Election Day! The Dale Jackson Show will be be broadcasting LIVE from 1st Family Mortgage's S. Memorial Pkwy location from 6-9 am. Stop by on your way to work or the polls to see Dale Jackson and have breakfast for free compliments of 1st Family Mortgage!

Micheal Brown-related death threat at UNA cancels classes on Thursday…

Micheal Brown related death threat at UNA cancels classes on Thursday…

Here is the threat….

Text: October 09, 2014 is the 2 month memorial since Michael Brown was killed. No less than 4 white people will die being representative of the 4 hours his body laid on the ground uncovered. I am not an African American.

Picture:10723494_10152516891077639_592489185_nSounds like someone wants to get out of class on Thursday…

Here is a serious question, if they believed this death threat (and there is no way they do), how the hell does this stop someone who wants to kill four people? They won’t do it on October 10th or October 8th?

Stop cancelling classes on these days and respond with an increased police presence.

The Dale Jackson Show (WVNN) podcast – 10-06-14

Your business’ health care costs are going down, even as you tell me they aren’t. Also, go check out HealthCare.gov! -Barack Obama

President Obama is amazing.

The GM of a steel plant asked Obama why his costs, of plans that the plant is buying, keep going up.

I am the general manager at Millennium Steel. we are honored to have you. One of the questions I had is about the health care costs. We are seeing almost a double-digit increase in health-care costs every year. Do you think that trend is going to go down, and what can we do to control that trend?

Obama responds by telling him that they aren’t actually going up, unless he is not doing his job…

 That is interesting. You’re going to have to talk to Henry because — no, no, no, this is serious. The question is whether you guys are shopping effectively enough, because it turns out that this year and in fact over the course of the last four years, premiums have gone up at the slowest rate in 50 years. So health care [costs] have actually… slowed down significantly, and it is having an effect both on businesses and families and the federal debt, because most of the federal debt, when folks talk about we got to drive down the debt, do something about the debt, it turns out that most of the federal deficit and the federal debt over the last decade has come from health-care costs going up so high among which means Medicare and Medicaid costs start going up, and that has gobbled up a bigger and bigger share of the federal budget. Because health care costs are going up much more slowly than expected, so far we anticipate we are going to save about $188 billion over the next 10 years… in reduced health care costs.

So Obama basically tell him he isn’t doing his job.

Obama also suggest this steel plant should dump the employees and send them to the ObamaCare marketplace?

Now, the Affordable Care Act is also known as Obamacare. for a while, everybody was saying, using that as kind of an insult. I’m feeling pretty good about it being called Obamacare. I suspect that about five years from now when everybody agrees it is working they will not call it Obamacare anymore. [laughter] That is ok. But part of the — part of what we did there is we set up what is called these marketplaces, these exchanges, where individuals can go online and shop, and as you know, the website was really bad for the first three months. It is now in really good shape and we have signed up 10 million people to get health care coverage, in many times, for the first time, and we are giving them tax credits to help lower the cost even more.

Yes, subsidies might drive down costs for those getting them but it doesn’t drive the market cost down, the government is picking up part of the tab.

Here is the exchange.

The Dale Jackson Show (WVNN) podcast – 10-03-14

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