Starbucks Corporation (SBUX) Extends Health Insurance to Employees’ Aging Parents in China

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Starbucks Corporation (NASDAQ:SBUX) is now offering insurance to the parents of employees in China.

Starbucks Corporation (SBUX) Extends Health Insurance to Employees' Aging Parents in ChinaThe new insurance program from Starbucks Corporation is called the “Starbucks China Parent Care Program”. The program has some certain stipulations that must be met for parents to be eligible for the plans.

Here are the requirements for the plan.

  • The employee’s parents must be living in Mainland China.
  • They must be below the age of 75.
  • Parents of employees may not be eligible depending on their preexisting conditions.
  • The employee that wants the coverage for their parents must have been with the company for at least two years.
  • This time spent working for SBUX must also have been done in its company-owned markets.
  • They also must be full-time SBUX employees.

Starbucks Corporation says that the Starbucks China Parent Care Program will cover 30 critical illnesses that are common among older individuals in China. It says that it expects the plan to help provide medical assistance for some 10,000 parents in China.

“Our core purpose and reason for being has always been driven by a set of beliefs steeped in humanity and I’m extremely proud to be able to support our Chinese partners and their parents through the Parent Care Program,” Howard Schultz, Starbucks Corporation’s Executive Chairman, said in a statement. “Supporting critical illnesses for aging parents exemplifies what we believe is our responsibility as a global public company and honors the family values deeply-rooted in the Chinese culture.”

Starbucks Corporation currently has more than 2,600 stores across 137 cities in China. It also employs some 40,000 people in the country.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/starbucks-corporation-china-parent-care-program-sbux/.

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