The country’s largest employer announced this week it would follow in the footsteps of many smaller businesses and terminate health insurance coverage for many of its part-time workers.
The move, which will affect 30,000 employees of Wal-Mart, is meant to garner the superstore significant savings in wake of increased healthcare costs related to the Affordable Care Act. Beginning Jan. 1, Wal-Mart will no longer offer insurance to employees working less than 30 hours a week.
“This year, the expenses were significant and led us to make some tough decisions,” said Sally Welborn, Wal-Mart’s senior vice president for global benefits.
While workers losing their insurance only make up about 5% of the retailer’s part-time workforce, the sheer size of Wal-Mart means many employees nationwide will now be looking at other ways to satisfy individual requirements under the Affordable Care Act.
That could mean a few new clients for independent agents and brokers assisting individuals with state and federal insurance exchanges.… read more > “Wal-Mart slashes health insurance for 30,000 people”