News broke today that the United Parcel Service (UPS) is dropping an estimated 15,000 spouses of its non-union employees from the company\u2019s health insurance plan \u2013 largely because of ObamaCare.<\/p>\n
Doing so will save UPS around $60 million a year.<\/p>\n
Under the health law, working spouses who have access to medical insurance from another employer don\u2019t have to be covered.<\/p>\n
The UPS memo<\/a> explaining the decision cites ObamaCare\u2019s stepped-up coverage requirements as playing a big role, reports Kaiser Health News<\/a>.<\/p>\n Costly benefits such as the law\u2019s \u201cban on annual and lifetime coverage limits and its requirement to cover dependent children up to age 26\u201d will raise the cost of premiums for employers.<\/p>\n Eliminating coverage for working spouses is one of the few ways companies can rein in costs while still complying with the law.<\/p>\n But along with losing access to their current doctor networks and benefits, UPS\u2019s soon-to-be-severed working spouses will also likely pay more for health insurance.<\/p>\n \u201cThe $500 in-network family deductible for UPS\u2019s basic plan, for example, is less than the nationwide average of $733,\u201d says Kaiser.<\/p>\n