6 Nov 2014

Wal-Mart cuts health benefits for 30,000 part-timers

Wal-Mart is eliminating health benefits for about 30,000 employees to control its rising health care costs.

The cut applies to part-timers who work fewer than 30 hours a week -- about 2% of the company's U.S. workforce.
More of Wal-Mart's employees signed up for health benefits this year than the company expected, which boosted the company's costs.
One reason for the increase in sign-ups could be Obamacare, which requires most everyone to have health coverage, though Wal-Mart did not make that connection.
Employees who lost the Wal-Mart coverage option would now be eligible forgovernment subsidies on Obamacare exchanges. That could work out to a better deal, especially for lower-paid employees. 
Those who remain eligible for company coverage will see premiums rise. The cheapestand most popular Wal-Mart plan is increasing $3.50 to $21.90 per paycheck.
"This year, the expenses were significant and led us to make some tough decisions as we begin our annual enrollment," wrote Wal-Mart executive Sally Welborn in a blog post.
In August, the company said the increased enrollment led to a $500 million jump in health care costs compared to last year.
Wal-Mart   is not the first company to trim health benefits in the wake of Obamacare's roll out. Rival Target  ) announced in January that it was eliminating benefits for all part-time workers. It encouraged those employees to enroll in Obamacare and gave a $500 cash payment to each of them.

3 comments:

  1. How much is enough?
    They have more money than they could spend in SEVERAL generations! Yet, to show some deference to their employees who got them where they are, whether they acknowledge it or not, are treated almost sub human. Why people shop there I will never understand.
    Oh, and the big favor they are giving to the employees who are covered, they can look forward to a $3+ per pay check healthcare cost to an over $21 increase! If you are making next to nothing in the first place, over $13 per paycheck decrease is quite significant.

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  2. It is misleading to say that ACA is fully to blame for this. Why isn't anyone blaming the entity that is 95% of the fucking problem in the first place? INSURANCE COMPANIES. They know their time is limited and they are raising premiums and slashing coverage while they laugh all the way to the bank.

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  3. Deborah Rodriguez7 November 2014 at 07:47

    I am not sure if most are aware, so I will share this. Walmart is charging us a SWIPE FEE for using your credit card. They do not, however, give you a discount when you pay with cash.
    So, the 10 cents you save is being taken back through your card usage.
    I live in the country, I am 35 miles from any quality store; wally world is one of 2 options within 20 miles. I will NEVER use my card in that store again.
    Share this with everyone...Meijers is competing with Walmart...support Meijers who will ship any times from the internet.
    Take back your money...use cash.

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