Insurance screw job
My company moved IT to a central group. Still same company the cost of short term disability went up 10 times. Company pays for 2/3 salary coverage we can buy up to 100% but we pay for the extra 1/3. Went from $120 per year to $1200 per year. No change in coverage. company says it is correct. Has anyone heard anything like this? Who or how do I complain out side my company if they tell me it is correct?
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Don’t pay for the extra third - that is way far from a fair price. Better to set money aside for an emergency.
A2Jennifer
Level 8
Mar 28, 2019
1
I respect your view. About three years ago I came to have a nose bleed. It would not stop and after about five trips to the hospital, the emergency room doctor took a good look at my body, asked about a spot on my belly that I could not see, I showed him my foot where there was another spot. He turned and immediately went down a series of tests he wanted NOW. ITP, my blood platelet level was 2. Minimally they like it to be above 150. The short answer, I was bleeding to death, I found myself on my way to Portland. One hour later I was in a hospital room with a line of people wanting to stick a needle in me. Four days later I went home. Two weeks later I was back in the Portland Hospital. I was an accident waiting to happen and since I would probably die I was going to do it where they could care for me. Short story, $165,000.00 later I was back home. I had insurance so I got to pay zero. I am glad I had insurance. Actually the ACA.
You already asked the two entities that would know. You got the same answer from both. Accept it or find another job.
indirect76
Level 7
Jan 28, 2019
0
Insurance across the board is going up. You can look for policies independent of your employer. Aflac or similar or just save for a rainy day. Short term disability usually only covers until your long term kicks in.. so use that as a guide(from 3-6 months)
Green_eyes
Level 8
Jan 28, 2019
1
The average is about 1-3% of your salary...go to HR and have them explain the increase. I pay $110 a month by myself...
So does your company pay $2400? A total of $3600 a year? If you are making $100,000 a year, it still seems on the high side.
For that amount, you would be better off saving up the amount you need to cover yourself for three-six months and then let LT disability kick in.
thinktwice
Level 8
Jan 28, 2019
2
Try shopping around with outside firms and see if their rates are comparable. If not, use them. If so, then you were being under charged. The latter used to be common but is less and less so. Especially if you are older, it is going to be expensive.
Mitch07102
Level 8
Jan 28, 2019
1
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