Wal-Mart Stores Inc., the largest private-sector employer in theU.S., will cut medical benefits to about 30,000 workers in responseto mounting health-care costs and the growth of alternativesavailable under Obamacare.
Wal-Mart will no longer provide health coverage to employees whowork less than 30 hours a week, according to a statement on itswebsite. The change is in line with moves by fellow retailers,including Target Corp., Home Depot Inc. and Walgreen Co., thecompany said.
“We don't make these decisions lightly, and the fact remainsthat our plans exceed those of our peers in the retail industry,”Sally Welborn, senior vice president of global benefits, said onthe company's blog.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
