... health care costs are climbing fast in the U.S.!
There's a saying that Social Security is the third rail of American politics, meaning you can't touch it without being zapped! Medicare runs down that same rail - you don't "fool around" with employee health care coverage!
But, it appears that the SECU Board is fooling around again - this time with SECU employee and retiree health coverage. If you thought the fallout from risk-based lending was bad, just wait for the outrage on this one!
So, what's up? Who knows? It would be entirely out of character for the We Are Board and current "Executive Leadership Team" ("The ELT" - pronounced "elite") to be transparent on highly volatile issues affecting all employees. Why bother letting folks know?
But don't worry, be happy, "The We and ELT" know what's best! Their track record over the last 3 years proves it - an incredible performance!
✅ But here's the outline for a yet to be announced major change in current healthcare benefits at SECU..
... one of the key concerns is that "The We and ELT" appear to be moving to cap the future healthcare benefits of all current and retired SECU employees.
This is being put forth as a benefit reduction solely affecting SECU retirees - don't fall for that sleight-of-hand!
This change directly AFFECTS EACH AND EVERY CURRENT SECU EMPLOYEE by reducing their future right to health benefits when they retire! Better ask what's going on before someone gets railroaded!
... "they" do have quite a track record for going off the rail, but always "in good faith".
“the beatings will continue until morale improves”
ReplyDeletemore punishment for legacy workers ... it is their MO ...
They already did away with RO85 for new hires ...
It's all about 'profit' for the non-profit CU...
They’ll find a way to screw us over. I’ve had a therapist tell me that our insurance is one of the worse she has ever seen for mental health. But all we hear is how great our benefits are. Don’t mention Delta dental vs MetLife dental insurance… oh yeah why not close for Juneteenth?? Would members really be upset over this? Instead half the staff ask off or call out of work…
ReplyDeleteDidn't our Leighdership head up HR? Are there different health benefits for execs and peasants?
ReplyDeleteWell, they at least get max PTO without having to put in the time that us peasants do.
Deletejust like boiling the frog ....
ReplyDeleteUsed to be a great place to work. This is part of the death march. Destination: every office U.S.A.
ReplyDeletemessing with retirees is like playing with matches, you're going to get burned. Messing with current employees is worse, like playing with dynamite.
ReplyDeleteGet ready this will blow up in the board's faces.
But they are gonna give us 6000.00 to buy our supplemental, what happens when that 6000.00 no longer covers it and prices go up. Is that 6000.00 going to go up also? I guess when they said they would pay for our insurance it wasn't written in stone to as how it would be paid for so anything to benefit SECU. What about the benefits of the retired folks that was promised when we retired and doing something for all the years the retirees put in and what they did for the credit union. I found out a long time ago, when they have a new idea th they push that is supposed to be great, it only is in SECU favor. Why not leave it the way it is now? What's the problem.
ReplyDeleteHR doesn't want to have anything to do with retirees. Well excuse me but what the heck is your job? Have y'all got so important that you can pick and choose what you do? Even though nothing was like signed, isn't this like a breach of something? Not what I was told as a long term employee, benefit of retiring was that your medical was paid for and after retirement and when you got Medicare security would be your supplemental. Another lie I guess
DeleteJust wait retired guys. If you haven't already got the letter asking for marriage proof and proof of joint ownership of something, your spouse will be dropped, it's coming your way from Timbuktu! SECU REALLy does not want to know who you are or give a damn about anything about you. Except to harass you about everything. out sourcing, outsourcing, everything. Why do we need a board? why do we need Leigh? SECU is run by consultants and algorithms. INDUSTRY STANDARD= economic termites. eating up the Foundations of SECU
ReplyDeleteWhat In the world are these idiots doing?
ReplyDeleteCan't pay your insurance AND the consultants, and C-Suites and play the Industry Standard game ...etc. You would think these consultants and Board and new/new built SECU the way they are treated ... If the leaders of SECU had done nothing but steer the ship the last 4 years, we would be worth $58 ... $60 billion now .... not very wise leaders but that's what you get when you focus on your selfishness instead of the member/owners. I've learned over the years that 'experts' are expert at separating you from your money with very little value given!
ReplyDeleteThese ELT's are so separated from reality they can't do anything hence they hire others to do what they are paid to do! Disconnected from normal people, hence get mommy to sign for you ... 4 more in 24!
ReplyDeleteThis assault on SECU workers (all) started when those who cared about them retired ... the board/new CEO's seen their chance to exploit all those they could ... and they have taken every chance to do just that!
ReplyDeleteEvery decision of these so called 'leaders' is based on lust for power, hatred of legacy employees or greed ....
ReplyDeleteand of course the members/owners suffer under these folks the most ... If not for them SECU doesn't need to exist!
ReplyDeleteWell I suggest all us retirees show up in person for those August meetings. We're being bent over and screwed to the wall.. I hope the new/new understands the bear(s) they have decided to poke....gather the troops; its time to charge!!!
ReplyDeleteHas anyone heard what happens to those retirees that are under 65 and not yet eligible for Medicare? Are they also being provided the 6k to get insurance? If not, how are they handling these retirees medical insurance?
ReplyDeleteIt is just for those eligible for medicare. Allows you to purchase a medicare supplement plan. Those under 65 will still have the employer sponsered plan with $6000 covered towards annual premium. A good question would be when premiums continue to sky rocket will retirees under 65 be able to afford the premium over $6000 a year.
DeleteAs of now, it's only for those 65 and over on Medicare. If you are retired and under 65, stays the same. For now anyway. Heck that could change also. So much for those great benefits when you retire, which was paying for your insurance
DeleteI was told that the monthly cost share premium will go from $97 per month this year to over $200 per month next year. That is for one individual only, don’t know the cost share for any of the other instances.
DeleteHaving Healthcare under a group plan was one of the "real" benefits employees had and look forward to that security in retirement.
ReplyDeleteWasn't this contractual? Isn't the SECU Board reneging on a contractual agreement?
ReplyDeleteMy thoughts exactly @6:17
ReplyDeleteWell, according to the timeline presented above regarding notification to all retirees impacted by the medical benefits cap, no information has been received far as I know. If one of your Board members are keeping up with this BLOG, perhaps you should inquire with Leigh Brady as to why the information has not been delivered in June. And while you’re inquiring, put the SECU retiree shoes on and walk around in them a while regarding your decision in this matter.
ReplyDelete