I know this will shock all the corporate media and Rupert Murdoch fans out there, but it turns out the Wall Street Journal report on McDonald’s (supposedly) dropping health care coverage is “flat out wrong.”
The story quoted a memo from McDonald’s Corp. to federal officials saying it would be “economically prohibitive for our carrier” to continue offering a limited benefits plan to some 30,000 hourly workers if it has to comply with new requirements requiring plans to spend a minimum portion of premiums on care – known as the medical loss ratio.
[HHS Secretary Kathleen] Sebelius told reporters HHS was in no position to award a waiver on the medical loss ratio requirement because the regulation has yet to be adopted.
“We can’t waive a regulation that doesn’t even exist,” she said.
She said the company asked for a waiver from the law’s restrictions on annual limits two weeks ago and received it within 48 hours.
McDonald’s says the allegation is “completely false.”
Other than that, great story Wall Street Journal!
P.S. No wonder why distrust of the U.S. media just reached a record high.