Trader Joe’s CEO Dan Bane has told the company’s employees that, due to Obamacare, there will no longer be health insurance provided to its employees who work fewer than 30 hours a week, according to the Huffington Post on Wednesday.
This revelation comes after Trader Joe’s has been praised for having given part-time employees health care coverage for many years. Via email from the company’s chief executive, part-timers were advised that they will need to find their own insurance at the beginning of next year.
As a consolation, the company will reportedly give each part-time employee a $500 check in January for the sole purpose of guiding them toward finding a new health care insurance plan under Obamacare. The company will – naturally – continue to give insurance coverage to their employees who work 30 hours or more per week to accommodate the new law.
According to Obamacare (The Affordable Care Act), companies with 50 employees or more – such as Trader Joe’s – must offer health care coverage to full-time employees who work 30 hours a week or more.
Due to statistics from the United States Department of Labor, Obamacare has reportedly is turning the tide in employment in the United States to a nation of part-time workers.
Speaking anonymously, a part-time Trader Joe’s employee said that she is losing one of the best parts of her job at the grocer’s. Currently, she pays only $70 a month for a tremendous plan that covers 80 percent of her medical costs, has only a $500 deductible, and additionally has prescription drug coverage. Now, that’s gone.
Businesses are finding that they must do what they must do to continue having financial success in spite of Obamacare.