Harrah's Execs Eat More Health Care Costs

6 Apr 2004

LAS VEGAS -- As reported by Bloomberg News: ``Harrah's Entertainment Inc. is cutting costs and making health care more affordable for low-wage workers partly by shifting the burden onto employees at the top of the pay scale.

``Workers who make $90,000 or more pay twice as much for health care, on average, as those who make less than $30,000, said Gary Thompson, spokesman for the Las Vegas-based company.

``Harrah's cut health-care costs to $118 million last year from $123 million in 2002, at a time when health-insurance premiums rose 14 percent in the United States, according to the Henry J. Kaiser Family Foundation. Much of the savings came at the expense of the company's best-paid workers.

``Chief Executive Gary Loveman started squeezing health-care costs in 2001 when spending blew through Harrah's budgets and cut 19 cents a year from earnings. Monthly costs grew to $475 per employee that year from $334 in 2000.

``Loveman raised fees for medical care, forced employees to pay a higher share of premiums and cut subsidies for families. Last year the company spent about $414 a month for each employee's health care…"

Language: English Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue Related Links Nevada Online Gambling
	Harrah's Execs Eat More Health Care Costs 6 Apr 2004 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> LAS VEGAS -- As reported by Bloomberg News: ``Harrah's Entertainment Inc. is cutting costs and making health care more affordable for low-wage workers partly by shifting the burden onto employees at the top of the pay scale. ``Workers who make $90,000 or more pay twice as much for health care, on average, as those who make less than $30,000, said Gary Thompson, spokesman for the Las Vegas-based company. ``Harrah's cut health-care costs to $118 million last year from $123 million in 2002, at a time when health-insurance premiums rose 14 percent in the United States, according to the Henry J. Kaiser Family Foundation. Much of the savings came at the expense of the company's best-paid workers. ``Chief Executive Gary Loveman started squeezing health-care costs in 2001 when spending blew through Harrah's budgets and cut 19 cents a year from earnings. Monthly costs grew to $475 per employee that year from $334 in 2000. ``Loveman raised fees for medical care, forced employees to pay a higher share of premiums and cut subsidies for families. Last year the company spent about $414 a month for each employee's health care…"

Related Links

Harrah's Execs Eat More Health Care Costs