via Wall Street Journal
For years executives at Brocade Communications Systems Inc. were treated to a full day of physical exams and assessments in the high-end, spa-like setting of Stanford University’s executive medicine program at a cost of several thousands of dollars per executive.
But the firm ended the perk in 2013, in an effort to eliminate inequalities in its employee benefits package and avoid taxes and penalties associated with the Affordable Care Act.
“That’s basically all gone. We removed differentiation across our personnel as much as we can,” said Dan Fairfax, Chief Financial Officer for the San Jose, Calif., data-storage and networking company.
Pressure from shareholders and tighter health-care law requirements are forcing companies to get rid of or pare down platinum-level health-care benefits.