#Starbucks is the world's largest coffee chain, with 300,000+ employees in over 30,000 retail locations, earning billions of dollars in revenues every year.
But did you know it spent more on employee healthcare than coffee beans? (1/8)
Thread. 👇
The year is 2008, the world is going through a recession and after an 8-year premature retirement, Howard Schultz (Ex-CEO at the time) returns back to take the reins of a struggling Starbucks. (2/8)
The recession had been hard on Starbucks, the promising giant that Howard had left in 2000 had turned into a money bleeding behemoth.
Things were so tense that Howard had to lay off 6,700 employees and close down 600 stores. (3/8)
Insurers can REJECT your claim if your disease treatment falls under a "waiting period"
Here are the key things you need to know about waiting periods in your health #insurance policy.
A thread. (1/8)
💡| As the name suggests, waiting periods in health insurance is quite literally the amount of time you need to wait, for an insurance policy to cover your diseases.
But since it’s insurance, it’s not that simple.
There are mainly 3 types of waiting periods...(2/8)
(1) Initial 30-day waiting period:
~This waiting period is only so that insurers can make sure that someone doesn’t take a policy after they get sick.
~Accidents (since they are unpredictable) & COVID (waiting period could be 15 -30 days) are exceptions. (3/8)
Amazon has just announced insurance cover for Small & Medium Enterprises (SMEs) in the UK.
This is Amazon’s first foray into the insurance selling business, and we cannot be more excited. (2/8)
Amazon is only offering business-related insurance services, like protecting a company’s assets, providing coverage for cyber security as well as professional indemnity for now, but we believe this move has greater implications to the insurance industry as a whole. (3/8)
Everybody visits the doctor at least once a year. But the doctor you visit — Her consultation fee is off the roof. A routine inspection could set you back thousands. (2/8)
So you come up with a genius plan. You decide to buy insurance and opt for a policy that reimburses all expenses incurred during these visits.
You look for options that include outpatient consultation benefits and you find one after a couple of minutes of search. (3/8)
As the U.S Congress inches closer to the historic legalization of weed at the federal level, there is one industry that is all geared up to witness a potential 10X increase in sales.
Well, several US states have already legalized marijuana for medical or recreational purposes.
But strict federal laws that criminalized it has prevented the insurance industry from extending services to cannabis businesses - growers, testing labs, and retailers. (2/8)
But it's not that marijuana farmers do not get insurance at all. Insurance in the US is state-regulated, which means farmers do get insurance in states where it is legal. (3/8)