Target Drops Health Plans for Part-Time Workers
Target is dropping its healthcare plan for part-time employees, urging them to sign up for Obamacare instead.
The company won't say how many employees are losing their coverage, but it's estimated to be tens of thousands of people.
"Target will provide U.S. stores' part-time team members who are currently enrolled in Target's health coverage and who are losing access to that coverage a $500 cash payment," Jodee Kozlak, executive vice president of Human Resources at Target, said.
Target said the move will help those employees because they can obtain big healthcare subsidies from Obamacare. That means instead of Target paying to cover those employees, taxpayers will.
Home Depot and Trader Joe's are two other major corporations that have dropped coverage for part-time employees.