UPS CFO: Obamacare Made Company Drop Health Coverage for 15,000 Spouses
UPS’s chief financial officer, Kurt Kuehn, says that his company has dropped spousal health coverage for 15,000 workers because of the cost of Obamacare.
“The Obamacare mandates did increase and do increase costs for UPS,” Kuehn told Squawk Box host Becky Quick on CNBC this morning. “We’re managing health-care inflation, plus some of the increased coverage mandates, [and that] led us to make a decision that, now that we know most employers will provide health care, it made sense for that employer to cover the cost of that benefit.”
UPS, as Kuehn underscored, hasn’t dropped coverage for all employees’ spouses — just the offer of coverage to spouses who are offered health-insurance plans by their own employers.