10/25/11

Wal-Mart increases health care premiums 36%, cuts part-time coverage

The rolling disaster of privatized health care in the USA was borne out again, this time with Wal-Mart.  Market Watch reports Wal Mart is increasing its health care premiums by about 36 percent and will stop offering health care benefits for new part-time employees. 

Reuters adds that Wal-Mart is also cutting its employees' health care expense accounts by 50%, providing just $250 for single employees for uninsured expenses, down from $500 (and $500 for families, down from $1,000).

Wal-Mart currently insures 1,000,000 employees.  

Wal-Mart spokesperson said,  "Our country needs to find the way to reduce the cost of health care particularly in this economy. The current health-care system is unsustainable for everyone. Like other businesses, we’ve had to make some tough choices.”

Large increases in premiums for employer-based health care plans is the norm in the USA, as is shrinking coverage and a shrinking number of people covered.  Privatized health care is no solution for Canadians.  

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