Bloomberg Employees Will Soon Pay for Part of Their Health Insurance

What Happened?

Bloomberg LP — the big financial data and news company founded by Michael Bloomberg — just told its employees that they will have to start paying a share of their health insurance costs.

Until now, Bloomberg covered the entire cost of health care for its workers. That’s changing.

Why Is This a Big Deal?

Important Point:
Bloomberg was one of the last major companies to fully pay for employee health insurance with zero contribution from workers. Most other companies made this switch years ago.

What the Memo Said

A memo sent to all staff (not just journalists) explained the change. Here are the key points:

• Everyone is affected — from reporters to tech staff to admin teams.
• The company still values great benefits and wants people to thrive.
• But health care costs keep rising fast.
• The way companies fund health care has shifted across the whole market.
• Bloomberg held out longer than almost any peer before making this change.

How Employees Reacted

Staffers were surprised and unhappy. Here’s why:

• Many saw the fully paid health plan as a major perk.
• There’s already been quiet speculation about what happens to pay and benefits when Mike Bloomberg (age 84) eventually steps down or passes away.
• This change feels like a first sign that the “golden era” of benefits might be ending.

Why Are Companies Doing This?

Health care in the U.S. is very expensive — and getting pricier every year. Most employers now share the cost with employees through:

• Monthly premiums (what you pay per paycheck)
• Deductibles (what you pay before insurance kicks in)
• Copays (fixed fees for doctor visits or prescriptions)

Bloomberg kept the old model longer than most, but the math finally caught up.

What This Means for You (If You Work There)

If you’re a Bloomberg employee, here’s what to expect next:

1. Watch for details — HR will share exact costs and plan options.
2. Compare plans — You may have choices (e.g., higher premium/lower deductible vs. lower premium/higher deductible).
3. Budget accordingly — Factor in the new monthly cost.
4. Ask questions — Use open enrollment sessions or HR help desks.
5. Stay informed — Benefits can change again in future years.

Summary

• Bloomberg LP is ending its policy of fully covering employee health insurance.
• All staff will now contribute to premiums.
• The company says it held out longer than peers, but rising costs forced the change.
• Employees are upset and worried — especially about what else might change in the future.
• This mirrors a nationwide trend where employers share health costs with workers.

FAQ

Will I lose my health insurance?

No. You’ll still have coverage — you’ll just pay part of the cost, like most workers at other companies.

How much will I have to pay?

Not yet announced. Exact amounts will come from HR during open enrollment or via a follow-up memo.

Does this affect only journalists?

No. The memo says it applies to everyone in the organization.

Why now? Why not earlier?

Bloomberg waited longer than almost any similar company. Rising health care costs across the U.S. made it unsustainable.

Could other benefits be cut next?

Possibly. Staff are already speculating about future changes — especially after Mike Bloomberg is no longer leading the company. But nothing else has been announced.