Corporate insurance policies are nothing like consumer insurance policies. You’re oversimplifying something you don’t have a basic working knowledge of.
Aircraft are generally insured externally, but everything else, including health insurance is self-insured.
Depends! Check out the foaming discussion in the Cessna 401 thread and the cool video of the hawker.
And that line of thinking isn't new. It was happening when railroads were modern tech. I used to work for a company that self insured for health care and it was just as you describe. It did come in handy once when my wife had a catastrophic bicycle accident that shattered her ankle and required multiple surgeries, hospital stays and rehab. It was handled by the adminstrators and despite the eye watering cost of the whole debacle I only payed my deductible and never heard another word about it, she lost a little mobility, no more high heels or pretending it was '77 and she was dancing on the set of Saturday Night Fever (remember when a bunch of Gen X folks leaned hard into the '70s? She was one of them.) She still gets around just fine without a limp over a decade later. That same company wanted me to wear a hard hat if I set foot underneath an airplane and a harness with a safety line if I stepped above the third rung on a ladder. I used to joke that because the most dangerous part of our day was the commute they'd start picking us up in short buses and make us wear helmets on the way to/from work.Aircraft are generally insured externally, but everything else, including health insurance is self-insured.
Like I have UHC but I don’t have UHC. UHC just administers the companies self-funded program. So when the bill comes, the company pays via the UHC sock puppet.
So when most large companies scream “premiums are going up!” Are they thooooo?
But even then, $78 million is barely even chump change, especially when you can amortize it over years to maximize the tax benefit, potentially write it off entirely or use it for an other operational write off.
I don't know all of the details and I can only comment on what I saw, a big jet flying relatively low with huge contrails coming off the wings juxtaposed against a clear blue backlit SoCal sky looked like an impending disaster, as I said I had no idea what I was looking at. I've heard some discussion about the whole thing and to be honest the pilots, while dealing with an emergency, seemed completely unaware of what they were doing and honestly I'm surprised they remembered to stop the dump before they landed and avoided contaminating the runway. You can't just dump thousands of gallons of fuel at an altitude low enough that it can't dissipate over a populated area and just walk away with no repercussions. I don't know if the pilots got some time in a classroom but I'd bet Delta never does that again. $78M is a little more than a rounding error and the sad thing is half of that is going to the lawyers and the rest will be divided up by the 1000's of folks that were effected resulting in no actual compensation for the victims.
Maybe the Airbus will run the numbers and decide when it's appropriate to land without requiring MX to have a look around? EICAS might say something like "LANDING UNAVAILABLE" in turquoise with three and 1/4 dings, the checklist will say "FLY TO ALTERNATE AND CIRCLE UNTIL NOTIFIED"
Ooo new euphemism
