Company Health Insurance Reimbursement

[HuskyCaucasian]

I was talking with our HR person at work and we were talking about what to do with those who opt out of the insurance offered by our organization. Currently, people who opt out, like myself, receive no increase in pay... I simply stop having to pay towards the organization's insurance. She was looking at putting forward the idea to give employee's an increase in pay that matches, or nearly matches, what they were paying for an individual to be insured.

 

I was curious what your various companies/organizations do.

[Texsox]

Not even a thank you. I do not know of any company that offered some offset.

[Chisoxfn]

Every company I've ever worked for (and I've worked for some huge companies) you don't get anything if you opt out. Only reason to really opt out if you have a decent health care plan is if your significant other has a better one.

[Texsox]

I wonder if any company still pays you for unused vacation and/or sick days. It's been a couple decades since I can remember a company doing that.

[Chisoxfn]

Come on Tex, you don't get paid out till you get fired or quit, haha. I think most companies learned it was a bad practice because vacation is actually good for the employees performance, etc.

 

Everywhere I've been they've encouraged you to actually take the vacation (thankfully).

[Texsox]

Come on Tex, you don't get paid out till you get fired or quit, haha. I think most companies learned it was a bad practice because vacation is actually good for the employees performance, etc.

 

Everywhere I've been they've encouraged you to actually take the vacation (thankfully).

 

 

I worked for one that paid everyone in December for unused time. It crushed my profitability in a usually slow month. The downside was no carry over.

[southsider2k5]

Every company I've ever worked for (and I've worked for some huge companies) you don't get anything if you opt out. Only reason to really opt out if you have a decent health care plan is if your significant other has a better one.

 

Same here.

 

[kapkomet]

I have never heard of a company increasing your comp for opting out of health insurance.

 

Also, there's a lot of companies (this is Tex's subject, btw) that pay out unused vacation.

 

The company I'm working at now gives you three weeks vacation, but you have to use one for the week between Christmas and New Year as they have a plant shutdown.

 

[HuskyCaucasian]

I wonder if any company still pays you for unused vacation and/or sick days. It's been a couple decades since I can remember a company doing that.

I know my wife's company pays sick days, not sure about vacation.

[Stocking]

I work for Trump, they offer $150 a month to turn down insurance. Also to note, 20 hrs is full time i Hawaii.

[HuskyCaucasian]

I work for Trump, they offer $150 a month to turn down insurance. Also to note, 20 hrs is full time i Hawaii.

you need the other 20 to enjoy the weather and surf.

[Controlled Chaos]

I wonder if any company still pays you for unused vacation and/or sick days. It's been a couple decades since I can remember a company doing that.

My company would buy out up to 2 weeks. Last year changes went into effect. They allowed you to sell your vacation days back at only 50%. This year and for the future it's 0. I was sure to use all my vacation last year, before that I always sold back 2 weeks.

[clyons]

I know my wife's company pays sick days, not sure about vacation.

 

In Illinois, unless the company has a written "use it or lose it" policy, the law requires payment of accrued, but unused vacation. Not so with pure "sick days," as it they are deemed a contingent benefit (e.g., to be used only "if" the employee is sick).

[Harry Chappas]

Government especially education have the payouts I assume it is a union thing.

 

 

[Controlled Chaos]

In Illinois, unless the company has a written "use it or lose it" policy, the law requires payment of accrued, but unused vacation. Not so with pure "sick days," as it they are deemed a contingent benefit (e.g., to be used only "if" the employee is sick).

I'm not sure if this is a way around it or not, but we have now gone to a PTO policy. There are no more 'vacation' or 'sick' days. Everything falls under personal time off. So if your sick it's PTO, if you're on vacation for a week, it's PTO.

[G&T]

Government especially education have the payouts I assume it is a union thing.

 

That's fairly standard in CBA's I've seen.

[clyons]

I'm not sure if this is a way around it or not, but we have now gone to a PTO policy. There are no more 'vacation' or 'sick' days. Everything falls under personal time off. So if your sick it's PTO, if you're on vacation for a week, it's PTO.

 

The official position of the Illinois Department of Labor is that those personal days are treated the same way as vacation; i.e., employees have an absolute right to take them (or receive the cash equivalent) because they are "earned" through service, just like wages or salary. That said, employers can limit "carry-over" or subject them to "use it or lose it" forfeiture through a written policy, set out in advance.

[JPN366]

I was talking with our HR person at work and we were talking about what to do with those who opt out of the insurance offered by our organization. Currently, people who opt out, like myself, receive no increase in pay... I simply stop having to pay towards the organization's insurance. She was looking at putting forward the idea to give employee's an increase in pay that matches, or nearly matches, what they were paying for an individual to be insured.

 

I was curious what your various companies/organizations do.

 

I dropped my coverage at work after the end of 2009 and went on my wife's insurance. Her family coverage was better, especially now that we have a little boy, and the family coverage from my work was way too expensive. I think my check increased the amount I would've paid to insurance since it was taxed from my gross.

[DukeNukeEm]

Its bad practice to allow employees to opt out of health insurance to make more money. Sick people dont go to work much.