Costs are necessarily skyrocketing under ObamaCare – so much so that employees are expected to drop out of coverage in droves:
Case in point, Wal-Mart stores – the Bentonville, Arkansas based retailer and the nation’s largest employer – will ask employees to pay premiums that are eight% to 36% more next year. The company has said if you average costs over the more than one million employees who are covered – workers’ contributions will rise just 4.4%. According to an Aon Hewitt survey, premiums will rise 9% on average nationally.
Wal-Mart says it is trying to cope with rising medical costs which make up a huge chunk of the retailer’s costs. The company has gone so far as announcing the opening of six health centers where it will offer free heart and spine surgery to most employees.
Even so, many employees are expected to drop coverage because of the higher costs.
There is only one Wal-Mart health plan, incidentally. It is the same regardless of position in the company.
So much for reducing costs. And expect a lot fewer full-time positions available everywhere.