I don’t sleep.
Because I don’t sleep, I have time to think about all sorts of things. Whether it’s pondering why the hell is it snowing in late March, to why do my dogs wait until 3am to want to play, I have lots of time to think about things.
Last night, my attention drifted to football, in particular the letter sent by Roger Goodell to the players, restating the owners’ offer for everyone to see. I had read it, several times, but this time, something caught my eye and really had me thinking.
“For the first time players and families would be able to purchase continuing coverage in the player medical plan after retirement for life, and could use their health savings account benefit to do so.”
A plan to have medical coverage for life for former football players and their families, and it was left on the table? My brain started doing some number crunching and I was thinking how could this be walked away from?
Before I continue, lets assume that every thing the public was allowed to view, the offer and the response from the players is true for what is stated, that there is nothing hidden, no hidden lingo that was buried.
I took a look at my pay stub I receive bi-weekly, and focused at the medical line. How much was taken out for medical insurance every week? Could I afford this every week for the rest of my life, with normal 1% increase year on year as a basic escalation of insurance costs? Very interesting. Here is what I came up with (keep in mind, the numbers are not exact, not even close):
$100/week for insurance for my wife and myself
52 weeks/year=$5200/year for medical insurance
Roughly 30 years (hopefully) of work left to go.
Yearly increase for medical insurance per year for 30 years-lets make it easy and increase $100/year
Add it all up, and the total needed to cover medical insurance for life using this simple formula: $199,950
Now I might be crazy, but this seems like a bargain for lifetime medical insurance. Granted, I am not in the NFL, but if my company came up with a way for me to keep my insurance for life, I would figure out a way to make it happen. Would you? What if you had a pre-existing condition, say like you went to work every day and slammed your body against a desk for 8-10 hours a day? Sometimes you would break a bone, maybe a concussion here and there for good measure, and you still kept your insurance? Would you take up the offer I just proposed?
It’s a simplistic way to look at one aspect of the proposal made by the owners to the players, and there is much more to negotiations (if they were actually negotiating) but if I was voting on the proposal, this might have been enough for me to vote for the owners proposal. And the players left this on the table.
Makes no sense to me. Of course, not much does in this mess.
Filed Under: John Rehor