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Walgreen Co. (WAG), the biggest U.S. drugstore chain, will move its workers into a private health insurance exchange to buy company-subsidized coverage, the latest sign of how the debate over Obamacare is accelerating a historic shift in corporate health-care coverage. Walgreen’s decision affects about 160,000 current employees and follows similar action this year by Sears Holdings Corp. (SHLD) and Darden Restaurants Inc. (DRI) As an alternative to administering a traditional health plan, all three will send their employees to an exchange run by Aon Plc.
IBM and GE recently announced similar changes in their retirees plans, which are not to be confused with UPS' decision to drop spousal coverage. CBS News reported the "big deal" announcement this morning, noting that employees may have to swallow more out-of-pocket costs due to Walgreens' cost-saving move:
What makes this particular corporate decision ironic is that Walgreens agreed to team up with HHS to promote the new law, which has now forced major benefits changes within their own company. The drug store chain is boosting a policy that has forced management to expose one of the president's core pledges as untrue,
and echoing Harry Reid's pronouncement that Obamacare is only the first step toward really fixing our still-broken healthcare system through a fully government-run single payer system. Confronted with this $2 trillion law's undeniable failures, its cheerleaders are already making the pivot to their next bad idea.....snip~
Obamacare: Walgreens Dropping Current Coverage for 160,000 Workers - Guy Benson
Obamacare takes another major hit. Walgreens one of the major backers. it just keeps on getting worse. Now the Obamatons are already pivoting as now they cannot deny the rising costs. Which means Obama hoping on the youth to fund his program may be in even more jeopardy than originally thought. Especially with those poor and middle class people. Knowing costs are going to keep going up on them. Sure he wasn't hoping on people who don't get sick that much.....people coming down on him from all sides now. Is that a look of worry in his eyes?
IBM and GE recently announced similar changes in their retirees plans, which are not to be confused with UPS' decision to drop spousal coverage. CBS News reported the "big deal" announcement this morning, noting that employees may have to swallow more out-of-pocket costs due to Walgreens' cost-saving move:
What makes this particular corporate decision ironic is that Walgreens agreed to team up with HHS to promote the new law, which has now forced major benefits changes within their own company. The drug store chain is boosting a policy that has forced management to expose one of the president's core pledges as untrue,
and echoing Harry Reid's pronouncement that Obamacare is only the first step toward really fixing our still-broken healthcare system through a fully government-run single payer system. Confronted with this $2 trillion law's undeniable failures, its cheerleaders are already making the pivot to their next bad idea.....snip~
Obamacare: Walgreens Dropping Current Coverage for 160,000 Workers - Guy Benson