McDonalds not lovin it: Obama Health-Care.
by SouthernFriedInfidel | Published on October 2nd, 2010, 1:12 pm | News
Liv wrote:Worse yet, they appear to be strong-arming the administration into reform:McDonald's Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul.
Last week, a senior McDonald's official informed the Department of Health and Human Services that the restaurant chain's insurer won't meet a 2011 requirement to spend at least 80% to 85% of its premium revenue on medical care. cite
So as I understand it, McDonalds insurer objects to the requirement that 80% of health insurance premiums be made to provide health care. In other words, they want less than 80% of the premiums to pay for health care, and more than 20% to go elsewhere.
2 questions here.
1) If this insurer wants more money to go to its overhead, won't it be in trouble with the federal government? I thought that this was a nation-wide requirement.
2) If McDonalds can't get proper insurance coverage for its employees from the current company, why is it not shopping for one that WILL be able to comply with the law?