Trader Joes announced that part-time employees will have to buy health insurance on Obamacare exchanges, according to a company memo.
Employees who work under 30 hours a week will be provided $500 by Trader Joes to purchase their own insurance through the exchanges established by the Affordable Care Act, the Huffington Post reported.
According to the Post:
The law mandates that companies with 50 employees or more offer coverage to such full-time employees, though the Obama administration has chosen to delay that rule for a year.
Trader Joe's has won kudos for offering its health care, dental and vision plans to part-time workers at a reasonable price -- a rarity in an industry known for low pay and scant benefits. But with low-wage workers eligible for tax subsidies to buy health insurance next year, the company has apparently calculated that offering medical coverage to part-timers who work 18 hours or more is no longer worth the cost.