AOL chairman slashes 401K benefits, blames two women who gave birth to sick babies

[Swede Atlanta]

9. AOL publicly disclosed they are "incompetent"

I am also surprised they exist. I used them in the "early days" and paid through the you-know-what for something that was really nothing.

Companies that offer health insurance usually choose two options:
(1) Self-insured - they select an insurance company simply as an administrator of their offering BUT they usually purchase "re-insurance" to cover those unexpected losses
(2) Premium plan under which they actually purchase policies for their employees and pay the premiums. They are subsequently compensated in part by contributions from their employees.

It sounds like AOL was so stupid they elected option 1 without the (b) part - reinsurance

And of course they are going to blame this all on two employees and find another scapegoat, the ACA for THEIR INCOMPETENCE.

Those suffering for this should be the asshole CEO and shareholders for their MISMANAGEMENT of the company, not the employees.