Most Part-Time Walmart Employees to Lose Health Care Benefits

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Walmart (WMT) is cutting costs by eliminating the health care benefits of most of the company’s part-time workers.

WalmartEmployees working less than 30 hours a week will be affected by the move–this amounts to about 30,000 workers. These Walmart employees were getting more than 75% of their premiums paid by the retailer.

The company also announced that it will increase the premiums its workers pay for health care benefits. About 1.2 million Walmart employees and families currently rely on the retailer for their health insurance.

Starting next year, the Affordable Care Act will make it mandatory for large companies to offer health care insurance for employees working 30 hours or more.

WMT stock is up about 0.3% Tuesday afternoon.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/10/walmart-health-care-benefits/.

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