No. of Recommendations: 3
Perhaps I am missing something, so please feel free to correct me. It looks like active workers are paying $0 monthly with a $0 yearly deductible, and $0 for emergency room visits.

As a comparison, we pay (I work for an automotive supplier and our health insurance costs just doubled for 2006):

2005 2006
Individual $70/month $140/month
Family $200/month $380/month

From their website, GM employs about 317,000 (or 324,000 - depends on where you look) people worldwide with half of them in the U.S. That works out to about 160,000 employees in the U.S.

160,000 employees x $380/month x 12 months = about $730 million

That is without copays; we pay $10 ($20 in 2006) for an office visit. It's also without emergency room visits; we pay $50 ($100 in 2006) per ER visit.

I don't wish higher costs on anyone, but it seems to me that this is an inefficient "new" plan for a company that is staring at a possible bankruptcy. Of course, as I noted above, I am probably missing something...

Minxie
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