🚫 Key health plan cost trend findings for 2023/2024
[2023 Segal Health Plan Cost Trend Survey]
- The projected annual cost trend for outpatient prescription drugs is expected to be approaching double-digit levels, the highest rate observed since 2015.
- Double-digit specialty Rx cost trend, mostly driven by price increases and new-to-market specialty drugs, continues to be a major driver of Rx cost trends.
- Survey respondents project per-person cost trends for open-access PPO/POS plans to be up 7.4 percent.
- Provider price increases are still the primary driver for hospital, physician and Rx trends.
✅ Definition: To short-change.
👉 To treat someone unfairly by giving them less than they deserve;
😎 While it appears that SECU retirees are being kicked to the curb...
... remember all current employees - especially those approaching retirement - will also 
Guess they'll invite all the retires' to Gym's gym ....
ReplyDeleteThey already shafted the new hires by not allowing them the RO85 benefit (Shepherds not looking out for those lambs who are shortsighted) ... and also making those who do get it work at least 30 years for SECU regardless of their age (this doesn't include those 'lucky' enough to be grandfathered in under the original plan). This all started under the Gym/Ayers leadership ... Your board owns this policy! 4 more in 24 ....
ReplyDeleteWait...you have to be here 30 years now for rule of 85?
DeleteA new rule was put in place that to qualify for RO85 you had to also have 30 years service.
DeleteThey grandfathered those who qualified under the original plan before this change.
The next change that came was they done away with the RO85 to all new hires... and now they are chipping away at those who already have it ...
I don't recall seeing this. Is it documented anywhere? Was there an announcement? If this is true, it changes a lot of things for me.
DeleteHR should be able to explain it to you ...
DeleteOkay I found it in the handbook. Hired after June 2020 you have to put 30 years in...no one is going to do that, if things don't change the credit union won't exist in 2050.
DeleteAfter Sept 2022, new hires not eligible.
Here's the kicker...there's a note saying SECU reserves the right to amend or terminate it at any time for any reason.
First, 'they' don't want long time employees, their actions tell you everything you need to know.
DeleteThe last part (SECU reserves the right to amend or terminate it at any time for any reason.) started to show up on all the memos they released before I left ... I knew when I started to read that it was just a matter of time before they slashed the benefit. You always know or should that benefits can be taken away (what they give you can be taken away) ... but when they start Placing that caveat front and center on communications that signifies a red flag. Well here we are ...and as more "leaders" who have no loyalties to SECU take Board or C-Suite positions, it will only get worse. Look the ones doing this "the Board" who didn't just get on board, hired Gym who got the ball rolling ... Ms Titanic is just careening off of one iceberg to another ... it hurts when those you thought you could trust let down (Members/Owners/Employees/Families... and for what? Greed and power ...
Well what about the ones that are already retired and that so called insert wasn't on anything before they did retire
Delete"HR" has been outsourced. Didn't you know?
Delete""HR" has been outsourced. Didn't you know?"
DeleteNope ....
4 board members are being outsourced in October...
Leighduhship!
ReplyDeleteYou got that right buddy!
Deleteit's all about the destruction of the unicorn so they can become Industry Standard ... look for more of the same from these people ...
ReplyDeleteCapped and cost growing at 7%. SECU threw all retirees under the bus. Bet Poor Leigh has a special plan. Along with all the new bank employees
ReplyDeleteOust the Board! Trashed members now staff.
ReplyDeleteAnd, SECU is making current employees sick.
ReplyDeleteTrulient and Navy Fed are closed for the Holiday tomorrow. I thought SECU was industry standard?
ReplyDeleteonly when convenient
DeleteIndustry standard when it suits them.
DeleteEver heard of "Bailey", "Lake" lawsuits in NC on taking away benefits?
ReplyDeleteThis seems similar. SECU is reneging on a contractual agreement. All the retirees have to organize and bring a class action law suit...
Deleteour CEO needs tt tell us the facts on this. The chat is heavy and growing angry in our branches
ReplyDeleteas it should. This is new/new level violation of trust!
Delete