I elected to keep my health care coverage by subscribing to COBRA after I was laid off. I was paying $200 per pay period (twice a month). Under COBRA I pay both the employee & employer contribution. I was expecting a massive monthly premium. It turns out it only costs me $500/month. I pay 80% of the cost and Xerox pays 20%.
We (employees) are paying 80% of the health insurance premium! The thieves in charge of Xerox have used health care expenses as a reason for depriving us of 401k contributions the past 2 years and will likely keep using it as an excuse in 2022. In most companies the health insurance premium contribution is the opposite of what Xerox does.
Criminals! Don't let your conscience bother you if you don't work hard for these monsters. Take advantage of them every opportunity you get. Never advise anyone you know to work for these unethical, sleazy jerks.
13 replies (most recent on top)
The rules around COBRA allow for a charge equal to 102% of the full cost of coverage, which is equal to the combined employee and employer premium. When I was shown the door, similar coverage with the ACA marketplace as a lot cheaper for my family and me . Now, my current employer pays roughly 80% of my coverage and 60% of my family's coverage, which I have been told is a bit better than average. I was also told that within a month or two of Icahn's coup, Xerox's new chief legal officer walked into everyone's favorite HR leader's office and asked 'how low can Xerox Corp go on healthcare costs without violating ACA rules.' Based on the discussion here and the note that the employee costs do vary by salary range, I'm pretty sure that rumor is true and her answer was 'no problem.'
Union retirees on the Old Plan are now required to pay half of the insurance premium beginning in March 2022.
I don’t pay anything for my medical. I picked the plan that is free for us low earners. So if your paying 80% then I suspect you were highly compensated since the premiums are based on salary.
I’m sorry it took you this long to figure this out. Most Fortune 500 companies have gone this way. They hide their greed in many ways. Xerox is one of the worst for sure.
so glad that today is my last day with xerox!! moving on to bigger and better things!! 28 years with this company amounts to at least 18 years tooo long! Adios Mo-Fo's To all who remain on the Xitanic..... just remember like in the movie..... there are not enough life boats... exit before the last boat rows away!
@1iyc
Exactly!!! WTH more do these employees need to realize they need to get out!
Why would you continue to work there, such fools!!
Managment should be ashamed of themselves. Eating off of the 20 Dollar an hour earners back. Very horrible products, prettt much non existent quality in business practices. No hope for future advancments(cant compete with competition), lack of respect for the working class of employees. Get far away from this dump now before you start paying them and not them paying you. Youve been warned.
It’s almost sounding like this is a horrible place to work and that people should make every effort to leave it - especially during our generation’s hottest job market ever…or just stay and be a glutton for punishment.
Your benefits statement doesn't have to be factual.
It has the placebo effect.
All good.
This proves that Xerox employees are the d-mbest people in the world.
A $6,000 deductible plus 80% of health insurance premium plus no 401k match equals no benefits.
No raises.
No bonuses.
Xerox is a no benefit company!
Xerox employees are pathetic wage donkeys.
Let me be clear, I'm paying 100% of the COBRA cost. My point is that while employed Xerox was only paying 20%. This was for a high deductible plan that had a $6,000 yearly deductible limit. Xerox is paying nothing for employee health care premiums. On top of that they're using it as an excuse to avoid paying 401k matching contributions.
How much did Icahn make in class A share stock dividends? How much bonus/stock options did the C suite collect? What was their sacrifice?
Stop working hard & putting in overtime for these beasts! Let Xerox go out of business by a thousand cuts from abused employees!
Count yourself lucky. $500 a month and only paying 80% is a piece of cake. The vast majority of companies make their former employees pay the 100% maximum plus the standard 2%.
Well said. Nothing would surprise me with these untrustworthy know it all’s.
They are out for themselves and nothing else. What a surprise.