Recently Mr. Immelt elaborated on the costs of the health care benefits for GE employees while he was pilfering the accounts and pension. He said that the cost was 3 billion per year for the employees. Sounds absorbent when proper context is not used. Not once did he break the cost down to an individual cost. GE has 330,000 people. That's $9090.00 per employee generally speaking, The break down would have to be done by country to be done fairly. That was the cost during the time of good health coverage.
" Immelt, then the CEO of General Electric, learned that his company had spent $3 billion annually on healthcare for employees. That was more than the company's healthcare unit was making, and was more than the company had spent on steel.
"The day I had that realization was the day that employee healthcare became my problem, and solving it became my mission," Immelt wrote on LinkedIn on July 26. "
His actions following reduced costs by 20%, that would be the time that the benefits were reduced to Obama Care level coverage and employee premium increases.
"Our benefits program went from being a mess of irrelevant metrics to having a simple formula for success—dollars spent per employee vs. employee absenteeism," Immelt said. By the end, Immelt said, the company reduced healthcare costs by 20%.
He didn't say how.
I hope that Athenahealth wakes up soon to this man's incompetence or they will suffer the same fate as GE.
Mr Flannery should be pursuing legal actions against Immelt and his cronies.
https://www.businessinsider.com/former-ge-ceo-jeff-immelt-on-employer-funded-health-insurance-2018-8