Wal-Mart to Overhaul Healthcare

I figured this would be of some interest to those in inner circles that revolve around discussion of Wal-Mart. In my own opinion Wal-Mart is developing into a monopolistic competitor. One of my problems with a lasseiz-faire system is that, as history has shown, the employers get the better of the deal while the employees get the shaft. Now, don't attempt to label me a socialist here. I'm not in favor of the state controlling industries, but I do believe in a fair amount of regulation. That said, take a look at this from the New York Times:

The company, according to data available for the first time, is offering better coverage to a greater number of workers. Wal-Mart, the nation’s largest private employer, provides insurance to 100,000 more workers than it did just three years ago — and it is now easier for many to sign up for health care at Wal-Mart than at its rival, Target, whose reputation glows in comparison.

Wal-Mart has hardly become a standard-bearer for corporate America: it still insures fewer than half its 1.4 million employees in the United States.

In addition to being a magnet for discussion revolving around Wal-Mart (or Big Box Mart if you've ever been to JibJab), I can see how this could go to serve the interests of single-payer healthcare advocates. Here we have an employer who for years gave a hard time to their employees with regards to benefits simply because they had the power to do so.

On one side, you can't really blame Wal-Mart. A business owner's objective is to maximize profits, and paying for healthcare benefits could be rather costly. But at the same time, doesn't a company have a responsibility to look out for their employees, and therefore, their investments? Looks like we may finally have that showing up.

In one sign of its success so far, the company has pushed down the price of 2,400 generic prescription drugs to $4 a month for employees, starting next year, a program that it offers, in more limited form, to its customers.

Now, the chain is even considering weight-loss clinics in its 4,000 stores and is toying with the idea of selling health insurance, hoping to finally bring coverage within reach of most Americans. The company’s turnabout demonstrates the power of public pressure to change even the biggest corporations like Wal-Mart, which has based its business strategy on low costs at all costs.