Some of the largest companies in the United States report an increase in health care costs due to the adopted legislation. Last week, AK Steel Corporation, Caterpillar Inc., Deere & Co., Verizon and Valero Energy announced that their spending on health care will increase by millions. Now AT & T will take a non-cash accounting charge of $ 1 billion to pay for the review.
A spokesman for AT & T indicates that the load is the result of how the Medicare subsidy will now be taxed according to the Associated Press and USA Today , the companies that provide drug benefits for retirees receive grants covering 28 percent of costs. Before the law, those subsidies were tax deductible, but now companies will only be able to deduct 72 percent of drug costs.
In response, AT & T may stop providing drug coverage for retirees and change health insurance plans for active employees. It will be some years before AT & T can implement changes, because AT & T is the largest private employer of union members. The contracts of the Union of Workers end in 2012 and AT & T will then be able to renegotiate packet health care benefits.
The legislators are not very happy to hear of these higher costs of reported health care. Representatives of the United States Henry Waxman and Bart Stupak require undertakings to participate in a meeting on April 21 to discuss these changes in health care costs and give an explanation for rising costs by April 9.
members of Congress Waxman and Stupak wrote to the executives of the company, "the new law is designed to expand coverage and bring down costs, so your assertions are a concern. They also appear to conflict with independent analyzes. "
Hopefully the meeting will clear the air between legislators and leaders and how this revision will affect businesses.
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