Ten years ago a college graduate with a high-tech degree used to be able to demand a big salary, great health insurance, maybe even a fancy car; but now those white collar managers are finding their salaries cut, their Mercedes Benz gone, and their health insurance plans dwindling down to nothing. A recent report published on Florida health insurance web, says white collar workers are losing company paid benefits and insurance programs even without losing their jobs. See the article here.
The Economic Policy Institute (EPI) released a disturbing report this week which revealed how many white-collar workers in Florida have lost their employer-based health insurance in recent years, even though they didn’t change jobs. Moran, a Jacksonville business and insurance consultant said, “We all have been taught that if we work hard, and hold onto our job, that our insurance will be safe … sadly that is no longer the case.”
Moran continued, “If a company is having financial problems, and they want to reduce costs, they may start cutting in the benefit department.” Usually the employer will begin by shifting the cost of the health insurance premiums to the employees in the form of higher co-pays and deductibles, but eventually a lot of these companies will decide that they cannot continue to offer insurance at all, leaving another person in Florida without health insurance, Moran said.