Wal-Mart to cancel health coverage for more part-time workers

A man shops at a Walmart store in San Jose, Calif., in September. Wal-Mart on Thursday reported that its annual profits fell.

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The nation's largest private employer, Wal-Mart, is cutting back on its health-care costs by eliminating part-time workers from coverage and hiking premium and co-payments for full-time employees.

The nation's largest private employer, Wal-Mart, is cutting back on its health-care costs by eliminating part-time workers from coverage, as well as hiking premiums and co-payments for full-time employees. About 30,000 workers who work less than an average of 30 hours a week are the latest class affected.

The move echoes that of other companies, such as Target, Home Depot and Trader Joe's, in the wake of the implementation of the Affordable Care Act (ACA). The federal law requires employers to insure staff that work more than an average of 30 hours a week. As The Wall Street Journal explains, “Several facets of the health-care overhaul are driving concerns about costs: one is the coming tax on so-called Cadillac plans, which carry high premiums and offer rich benefits, and another is the individual mandate that requires most workers to obtain coverage or else face a penalty.”

Will the affected workers be able to find affordable coverage readily? Has your employer altered your plan?

Guest:

Anna Mathews, Health Insurance Reporter, The Wall Street Journal