Another major American company has announced it will no longer offer health coverage to some of its employees because of Obamacare. “After careful consideration of the impact to our stores’ part-time team members and to Target,” the retail giant announced it will end coverage for its part-time workers starting April 1.
A Target executive wrote on a company blog the soon-to-be-dropped employees “may prefer” the coverage options available on the health-care marketplace exchanges. Executive vice president of human resources Jodee Kozlak explained that continuing to cover the part-time workers would have made them ineligible for subsidies on the exchange. Additionally, Target will provide employees losing coverage with a $500 cash payment as compensation.
Americans have until the end of March to enroll in a plan in the marketplace in order to receive coverage for the rest of the year.