Home Depot Inc., the world’s largest home improvement retailer, plans to end medical coverage for about 20,000 part-time employees and direct them to government-sponsored exchanges scheduled to open next month as companies revamp benefits to fit the U.S. Affordable Care Act.
The Obamacare rollout is leading to the cancellation of hundreds of thousands of health insurance plans nationwide, contradicting President Barack Obama’s repeated pledge that people who like their coverage can keep it.
Just hours after President Barack Obama announced a one-year reprieve for canceled insurance plans, industry executives warned it would cost taxpayers and consumers while state officials split on their support for it.
Aetna Inc., the third-biggest U.S. health insurer, has seen Obamacare enrollments increase since the federal government declared its troubled website fixed last week. Now, the concern is getting people to pay their premiums.