Friday, October 21, 2011
One more reason for #OWS
The giant retail Satan, Wal-Mart, long known for using Medicaid as its principle health care plan for its employees, is planning to cut back its health care benefits.
After trying to mollify its critics in recent years by offering better health care benefits to its employees, Wal-Mart is substantially rolling back coverage for part-time workers and significantly raising premiums for many full-time staff.So the great retail Satan, which reported income of $3.8 Billion in the 2nd quarter is pushing more of its employees back onto Medicaid to keep Wall St happy. And they will probably be demanding all manner of tax breaks from the states which can't afford the increases in Medicaid. Time to say good night to this bunch of Waltons.
Citing rising costs, Wal-Mart, the nation’s largest private employer, told its employees this week that all future part-time employees who work less than 24 hours a week on average will no longer qualify for any of the company’s health insurance plans.
In addition, any new employees who average 24 hours to 33 hours a week will no longer be able to include a spouse as part of their health care plan, although children can still be covered.
This is a big shift from just a few years ago when Wal-Mart expanded coverage for employees and their families after facing criticism because so many of its 1.4 million workers could not afford or did not qualify for coverage — rendering many of them eligible for Medicaid.
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