Wal-Mart Stores' U.S. employees will pay between 8 percent and 36 percent more in premiums for its medical coverage in 2013, prompting some of the 1.4 million workers at the nation's largest private employer to say they will forego coverage altogether.
"I really can't even afford it now, so for it to go up even a dollar for me is a stretch," said Colby Harris, who said he makes $8.90 per hour and takes home less than $20,000 per year working in the Walmart store's produce department in Lancaster, Texas.
Harris, a 22-year-old smoker, was set to see his cost per paycheck rise to $29.60 from $25.40. He says he has decided not to sign up for coverage. Given his low income, as Harris foregoes coverage any major medical bills could potentially fall to taxpayers through the government's Medicaid program. (emphasis mine)Read the whole story HERE.
So this article can be summed up this way. All these low income folks who drop their coverage will be looking for tax payers like YOU AND I to subsidize or out right pay for their medical needs....ON TOP of all the increases in premiums, you can expect.
I'll bet Sam Walton is smiling all the way to the bank. Do you think Walton's Million Dollar investment will payoff? Just think of all the money he'll save from emplyees dropping the insurance he's offering.