Morally Bankrupt Wal-Mart Guts Employee Health Care Benefits by DesiFollow Share16 5 permalink 23 Comments
Walmart
[Wal-Mart "Save Money, Live Better" sign via Flickr.]
After 2nd quarter earnings of $108.6 billion this year, as well as confirming to the public "that its core customer group (consumers with annual incomes under $30,000) continues to struggle financially due largely to elevated gas prices and high unemployment levels," Wal-Mart decided to roll back health care coverage for part-time employees, and raising premiums for many full-time employees.
The NYT reports:
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.
These changes in coverage will no doubt return Wal-Mart to the nation's 'Welfare Queen' status that it gained when studies revealed the cost per state in order to provide government subsidized health care to Wal-Mart employees.
For example, Washington state revealedthat it cost $12 million for it to provide Medicaid coverage for Wal-Mart employees. That total also doubled if the cost to federal taxpayers was included.
This is the company that says it exists to help save you money and live better?
-Diane