Even though Wal-Mart (NYSE: WMT) was an original supporter of The Affordable Care Act, or ObamaCare, it is now suffering from the impact like many others.
The largest retailer in the world and the nation’s biggest employer just announced that it was dropping health insurance coverage for 30,000 part-time workers.
That is not the end of the pain being registered for Wal-Mart. Other workers will have to pay more. This is the second time that Wal-Mart is taking back health insurance coverage from workers. The first was in 2011.
Both times were directly as a result of The Affordable Care Act driving up the costs of health insurance for workers.
This raises the obvious question: is the largest employer in America cannot handle the costs of ObamaCare, what is happening to small business across the United States? Articles have detailed how studies from Federal Reserve banks across the country have revealed that many businesses are reducing workers and hours. This is likely to get worse: much, much worse.
Why is that?
The Obama Administration has delayed or amended ObamaCare more than 30 times. That was done to help out supporters in elections. Polls show that is not working. It is looking bleak for the supporters of The Affordable Care Act in the November mid-term Congressional elections. It has certainly been that way in the other elections as ObamaCare supporters have fared poorly.
Obviously, the Wal-Mart announcement will not help ObamaCare care supporters in less than a month.
It is certainly worthy of note that Wal-Mart did not wait until after the election to make the announcement that it was dropping health insurance coverage for so many of its workers so soon until the elections. It is difficult to see how this will help the supporters of ObamaCare. There is likely to be more of these announcements from other employers having to make unpopular changes due to the impact of The Affordable Care Act!