On CNBC’s “Squawk Box” Monday, United Parcel Service Chief Financial Officer Kurt Kuehn explained how the cost of Obamacare’s mandates caused the company to drop health benefits for 15,000 spouses of its employees.
Kuehn said that none of the spouses were left uninsured, but they were required to get health care coverage elsewhere if they were given the option through their own employment.
Well, the Obamacare mandates did increase and do increase costs for UPS. We’re managing health care inflation plus some of the increased coverage mandates led us to make a decision that now that we know that most employers will provide health care, it made sense for that employer to cover the cost of that benefit.
Watch video of the interview provided by the Washington Free Beacon: