4.6 • 851 Ratings
🗓️ 25 August 2023
⏱️ 11 minutes
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0:00.0 | What we talk about, though, about the transition from the New Deal and away from that, |
0:07.0 | getting more into the, you know, employee sponsored, employer, excuse me, sponsored wellness |
0:11.6 | or assistance programs, you say that it sort of supercharges under the, under Obamacare, |
0:18.8 | which is this moment of enormous expansion for companies and schemes |
0:21.6 | that are ubiquitous because they are not just tacitly encouraged by the government as they |
0:27.1 | would have been in the 70s under Nixon, but they are now sort of, there's a huge bonanza |
0:32.5 | for for companies offering these, uh, these kinds of services. So with the Affordable Care Act, which was passed in 2010, |
0:40.9 | it actually directly incentivized employers to adopt these health and wellness benefits. |
0:46.5 | There was this part called the Safeway Amendment, |
0:50.1 | which refers to this supermarket chain in the U.S. |
0:54.9 | And their CEO at the time was kind of boasting in the media |
0:59.5 | and to all of these politicians about how over, I think, |
1:03.8 | it was a period of four years, |
1:05.7 | he had managed or Safeway had managed to keep their health care costs stagnant |
1:09.7 | because of their employee |
1:11.3 | wellness program, which required employees to meet certain health metrics and enroll in this, |
1:18.3 | again, like fitness and wellness kind of entire program. |
1:23.0 | And so anyways, it turned out that a Washington Post reporter, I think, debunked this, and it was all misinformation. |
1:32.1 | Safeway had not actually kept its health care costs flat. |
1:35.5 | But regardless of that, the Safeway Amendment was included in the ACA. |
1:39.5 | And what it did was it increased the amount of incentives and penalties that a company is |
1:47.0 | permitted to offer by 10%. So it's now, which meant it was now up to 30% of total premiums or |
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