Amherst Times

Wal-Mart has unveiled a plan intended to expand coverage and offer workers cheap prescription drugs. The nation’s largest private employer has long been criticized for its health care coverage but they are expecting that to change drastically.

“Starting Jan. 1, Wal-Mart’s insurance will look a lot like that offered by many other American companies, but with some twists that even longtime critics described as innovative. Independent experts praised several features of the plan and said it could represent a turning point for the retailer, the nation’s largest private employer.”

““On face value, this looks like a very significant change and improvement,” said Ron Pollack, president of Families USA, a health care advocacy group in Washington that has been critical of Wal-Mart.”

“Wal-Mart said it would give each employee or family that signs up for coverage a grant of $100 to $500 to defray health expenses while charging premiums as low as $5 a month. It will eliminate expensive hospital deductibles and make 2,400 generic drugs available to employees for $4 a prescription — about 1,000 more than it sells to customers at that price.”

“The plans with the lowest premiums would still charge annual deductibles as high as $2,000 — typical for American corporate health plans, but perhaps steep for Wal-Mart employees, many of whom work part time and earn less than $20,000 a year. And the company’s plans have other limitations, including waiting periods as long as a year for new employees.”
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