Atlanta, GA 7/1/2009 2:56:18 AM
News / Business

Wal-Mart (NYSE: WMT) Supports Obama's Health Insurance Plan

Wal-Mart Stores, Inc. (NYSE: WMT) announced its support of President Barack Obama’s employee health care plan on Tuesday.


Wal-Mart has been under scrutiny for its less than generous corporate health care plan. In a move that is beneficial to both Wal-Mart and the popularity of Obama’s plan, the conglomerate expressed that they have embraced the program.


Obama’s health care plan calls for all large employers to offer health insurance to their workers.


Wal-Mart, the nation’s largest private employer, announced their support through a letter sent to congressional officials Tuesday.


"We are for an employer mandate which is fair and broad in its coverage," the letter said. "Any alternative to an employer mandate should not create barriers to hiring entry-level employees."


The letter was also signed by Andrew L. Stern, president of the Service Employees International Union (SEIU), which has more than a million members and counts more U.S. health workers than any other union. John Podesta, who headed Obama's transition team and is president of the Center for American Progress, also signed it.


Wal-Mart recently said that 94 percent of its employees now have insurance, either through the company or a family member.


The letter could have a large effect on Obama’s health-care system reform, which will call for virtually all Americans to have insurance and universal health care.




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