McDonald's May End Health Care Benefits For 30,000 Workers - Spokane, North Idaho News & Weather KHQ.com

McDonald's May End Health Care Benefits For 30,000 Workers

HUFFINGTONPOST.COM - McDonald's (MCD) warned federal officials that it may terminate health care benefits for 30,000 workers, according to a story in The Wall Street Journal. The concern of the huge fast food chain and other employers of low-paid workers is that they will be overwhelmed by the costs of new regulations. McDonald's offers a limited "mini-med" plan to hourly workers, but as a result of the health overhaul, it must spend a larger amount of its premium revenue on medical care.

The company says the costs of administering the health plans are too high -- due to worker turnover and low spending on claims -- to accommodate the mandated increases. The Journal reports that "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."

 

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