Still Denied Affordable Health Insurance
A U.S. Court of Appeals in Baltimore has ruled in favor of Wal Mart in a healthcare case that would have required the industry giant to provide more employees with
affordable health insurance.
Wal Mart has often been criticized for the poor health insurance plan it offers its employees; for example, spending on individual health insurance by Wal Mart is far below the average that retailers spend to cover employees, and only 48% of its employees are covered at all. Furthermore, the coverage they do offer doesn't cover routine treatments like flu shots or child vaccinations.
With a deductible of $1000 and no coverage for such basic treatments, many Wal Mart employees are either uninsured, or cannot afford the kind of protective measures that they need.
The ruling in Wal Marts favor has led to mixed reactions: some small business owners are pleased, fearing that the same requirements, if imposed upon Wal Mart, could be extended to small business owners.
Wal Mart employees are obviously against the ruling, as it would have ensured that 8% of Wal Mart's revenue go towards providing employees with affordable health insurance.
Facts on:
Wal Mart Employees
Did you know...
only 48% of its employees have health insurance?
|
As state legislators struggle to budget healthcare costs against rising health insurance premiums, businesses and employees alike are stretched to the limit. Most businesses can't pay for rising medical coverage costs any more than employees can afford to do so. With 1.5 million employees, Wal Mart stood to lose a lot of money.
Until a viable solution appears, employees have some options: for those waiting for their health insurance benefits to kick in (at Wal Mart this takes 2 years for part-time employees), there's short term life insurance. Dental insurance and vision insurance can also be purchased independently, and often at affordable rates. And, many individual health insurance plans can be customized, so the things that aren't covered by the employer can still be protected under another, less extensive insurance plan.
Current Topic:
Recent Topics:
Past Topics:
