How Starbucks Health Insurance Plans Offer Employees Options
Lewis Mark | Published: December 10, 2018
Working part-time at a coffee shop doesn’t scream benefits. Yet, Starbucks prides themselves on offering health insurance to their employees. Their website even refers to their employees as ‘partners’ to emphasize personal relationships within the large company.
The idea that only full-time employees at a desk job deserve health insurance and added benefits seems outdated. Still, very few companies are breaking the norm, leaving millions of part-time workers scrambling to find coverage they can afford. For those looking for a job with benefits, Starbucks is a great place to start.
Does Starbucks Really Pay For Your Health Insurance?
It may sound crazy, but Starbucks is one of the few companies that show their care for their employees by providing health insurance. Starbucks employee benefits include health, dental, and even vision options, and 401k savings plans with matching contributions. With these benefits attracting a growing number of employees, it is adding to Starbuck’s overhead costs. However, according to a Forbes article, Howard Schultz seems ready to keep these Starbucks employee benefits available to build retention and improve morale despite the growing cost.
How Long Do You Have To Work Before Becoming Eligible?
There are certain requirements to attain eligibility for Starbucks health insurance. They require an employee to be paid for 160 hours of work over a consecutive 2 month period to become eligible. To maintain Starbucks health insurance eligibility, a worker needs to work at least 240 hours between the first and last days of each calendar quarter.
This works out to be 20 hours a week before employees can begin to take advantage of Starbucks health benefits. This works great for college students and those who don’t have the time for full-time work and still need health insurance.
A full-time worker attains Starbucks health insurance eligibility after 60 days of work. This includes shift managers and supervisors in retail locations, along with those working full-time at corporate offices.
How Much Will It Cost You?
There are five plans available when choosing Starbucks health coverage. The cost is lower for the lowest tier and highest for the highest coverage available. Those willing to pay a little more initially may save more in the long run.
A higher tier coverage available could cost around $300/month for a family of three according to self-reported data on the Starbucks subreddit. A lower tier coverage would cost much less for a single person, but there may be more out of pocket costs.
How Much Coverage Can Save You
Starbucks health coverage could save you up to $180 for doctor’s visits. However, if you opt for the lower tier options there is no coverage for doctor’s visits until the copay is met. For those choosing the lower tier options, Starbucks provides health savings account that employees can use.
In addition, Starbucks health insurance offers 20-30% coinsurance after a deductible is met in most cases. The highest tier option, explained below, has no deductible and the insurance pays most of the costs. This could save thousands of prescription drugs for those needing more medication.
Starbucks Health Insurance Options
One of the great things about Starbucks is they truly understand the healthcare landscape. They know that not everyone’s healthcare needs will be the same, and not everyone should have to pay for benefits they don’t need. That’s why there are a few different options to choose from.
This option is the lowest coverage available. While it may meet the requirement for having health insurance, not much is covered until the deductible is met. This deductible is $3000 for an individual and $6,000 for a family. The out-of-pocket expenses can be almost $12,000 for a family or around $6000 for an individual.
Starbucks Bronze Plus
This plan also doesn’t initially covers doctors visits, however, the deductible to meet is slightly lower. It is $2,250 for an individual and $$4,500 for a family. In addition, the out-of-pocket maximum expenses are reduced to about $3,500 for an individual and around $7,000 for a family.
Starbucks says that most of their employees choose Bronze Plus or Silver for their health insurance in their Benefits information. The Silver plan has a co-pay for doctor’s visits with $30 for primary care and $50 for specialty visits. The deductible is decreased to $750 for an individual and $1500 for a family. However, the maximum out-of-pocket expenses are greater than the Bronze Plus plan. They are listed as $5,000 for an individual and $10,000 for a family.
This plan has an even lower deductible of $600 for an individual and $1,200 for families. The maximum out-of-pocket expenses are comparable to the Bronze Plus plan. However, the deductibles for doctor’s visits are reduced to $20 for primary care and $35 for specialty care.
By far the best health coverage provided, this plan has no deductible. Co-pays are the same as the Gold plan. The maximum out-of-pocket expenses are only $1,500 for individuals and $3,000 for families. Choosing a health care plan is individual to each person’s situation. However, Starbucks offers a wide range of available options to choose from.