Wachovia health-benefits premiums tiered in price, Higher the salary, the higher the employees' cost

Winston-Salem Journal ^ | November 12, 2004

[Glenn]

It's a private company and they can do what they want. I like it.

Private or public. It makes no difference. They have more freedom than I do.

[Between the Lines]

A much better example would be like this:

Suppose the gas station charges $2.00 per gallon. Your company agrees to reimburse all employees $1.00 per gallon.But because you are in a higher income tier they take $.50 of your reimbursement and add it to the $1.00 reimbursement your lower paid coworkers get. So you get a total of $.50 per gallon back and your coworkers get $1.50 per gallon back.

Money that should be in your pocket is now in someone else's pocket because your company mandated it.

[The Red Zone]

A HSA is only available in conjunction with a very high deductible health care insurance plan. Some employers don't carry such plans.

[Between the Lines]

It's a private company and they can do what they want. I like it.

You must be on the receiving end of this company mandated welfare program.

[VeniVidiVici]

I would, however, notice if my highly competent administrative assistant and back office support staff hiked out the door, and were replaced by the barely literate drones who populate the back offices and secretarial pools of a lot of big financial institutions.

So you could save yourself some money by going to them and volunteering to pay their monthly fee right now.

See. That wasn't so hard, was it?

Actually, thinking about some more, this may work out. We could structure stock options to give the bulk to the lower paid workers, bonus multipliers could be higher for lower paid workers, we can pick up their commuting tab and feed them for free (by subsidizing the company canteen).

Why this would know no bounds!

Course, the people in the middle would be screwed but, hey, they're used to it by now.