Two All Beef Patties
Special sauce, lettuce, cheese, pickles, onions on a sesame seed bun – but no health insurance.
How’s that Obamacare working out? Not so good at McDonald’s Corp., where executives have signaled that requirements of the new law would force the fast-food titan to drop insurance coverage for upwards of 30,000 employees.
This from The WSJ:
The Obama administration said Thursday that its top health official will “exercise her discretion” in enforcing a new health-law requirement, a move that could prevent McDonald’s Corp. and other employers from disrupting their health-care policies for hourly workers
The announcement Thursday followed a report in The Wall Street Journal that McDonald’s warned federal regulators it could drop its health-insurance plan for nearly 30,000 restaurant workers unless regulators waive a new requirement of the health overhaul. The requirement, known as the minimum medical loss ratio, concerns the percentage of revenue received from premiums that must be spent on benefits.
McDonald’s is among the retailers and restaurant chains that offer a “mini-med” limited benefit. Most of these plans don’t meet a 2011 requirement that they spend 80% to 85% of premiums on medical benefits instead of overhead expenses.
McDonald’s last week sent a top official at the Department of Health and Human Services a memo saying “it would be economically prohibitive for our carrier to continue offering” its “mini-med” limited benefit plan unless it got an exemption from the requirement.
Yet another shining example of the total disconnect between reality and an aggressively liberal policy hatched in an Ivory Tower.
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