Walgreen joins several other large employers in the move toward private insurance exchanges. These include Time Warner, International Business Machines (IBM) and Sears Holdings, which owns Kmart.
Walgreens — the store whose mission it is to be the first choice in health and daily living for every American — rejected Obamacare on Wednesday.
Walgreens announced today that it will provide more than 160,000 eligible employees with employer-sponsored health insurance coverage in 2014 through its proprietary “Live Well Benefits Store,” a marketplace that is an outsourced solution through Aon Hewitt Corporate Health Exchange.
Seventeen other companies, including Sears and the parent organization of Red Lobster, Olive Garden and Yard House, similarly chose to purchase health coverage through online market exchanges.
The private sector company Aon Hewitt “is a managed insurance marketplace where multiple carriers compete in offering employees a choice of fully insured group plans.”
Walgreens continues to offer benefits to employees through this plan with monthly co-payments as low as $5. According to Kathleen Wilson-Thompson, Walgreens senior vice president and chief human resources officer:
Under this new program, employees will have expanded choices to personalize their health care coverage in a competitive environment, giving our diverse workforce the flexibility they need to meet their healthcare needs.