More on the Obamacare front….
While Rand Corp. was saying Monday that President Obama’s health-care overhaul should have little impact on health coverage, one large retail employer was taking heat for cutting back on its full-time workers in an effort to save on health-care costs.
MarketWatch’s Andria Cheng, who anchors the “Behind the Storefront” blog, talks about how the retailer Forever 21 is reducing hours for its workers to just below the 30-hour minimum definition of a full-time employee so that it doesn’t have to offer those workers coverage.
Cheng notes that the privately held teen retailer insists on Facebook that its move is unrelated to the coming advent of Obamacare, and says less than 1% of its employees will be affected. But a leaked memo says that a number of non-management positions will be dropped from coverage and those jobs will allow for no more than 29.5 hours a week.