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Target cuts part time health care why? :: Obamacare


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http://online.wsj.com/news/articles/SB10001424052702303802904579335240628308618?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303802904579335240628308618.html

 

 

Target will stop covering part-time employees on April 1, the company said in a corporate blog post quoting human resources chief Jodee Kozlak. Less than 10% of Target's roughly 360,000 employees take part in the plan being discontinued. Those employees will be given $500 due to the coverage being ended.

Target said the health-insurance marketplaces, spurred by President Barack Obama's Affordable Care Act, could provide options its part-time workers may prefer.

"By offering them insurance, we could actually disqualify many of them from being eligible for newly available subsidies that could reduce their overall health insurance expense," Target said.

The health law requires large companies to offer coverage to employees working 30 hours a week or more, from 2015, or pay a penalty starting at $2,000 per worker. The law also requires most individuals this year to have coverage, or pay a penalty, and many big employers have been bracing for higher costs as employees who previously turned down participation in the company health plan now sign up for it.

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