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.”