Retail giant Target has announced that it will no longer be offering health insurance to its part-time employees. The move will affect tens of thousands of employees who currently do not qualify to be full-time employees for Target, and will force them into government healthcare exchanges that, by all accounts, have forced individual premiums to double or triple beyond what they had been paying before.
Citing the government-run exchanges that were a cornerstone of the Obamacare legislation, Target announced that it would no longer health insurance coverage to its part-time workforce, numbering approximately 36,000 workers. The coverage will be discontinued April 1, as announced on Target's blog and website this morning.
As a small measure of compensation, Target will offer the affected employees a $500 one-time payment to partially offset the premiums they would pay under the government-run exchanges. "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," said executive VP Jodee Kozlak regarding the cancellations.
Target is joining Home Depot, Trader Joe's, and Walgreens among large chains that will no longer be offering part-time employees any health benefits as a result of the healthcare legislation - with more likely to follow. As it stands, it is another dagger in President Obama's statement before the bill's passage that "If you like your plan, you can keep your plan."
Apparently, no, you can't.