Walgreens will no longer offer its workers health insurance directly in 2014, but instead shift them into policies in a private insurance exchange, the company announced Wednesday, cnn.com reported.
In the new model, Walgreens will subsidize the cost of the policies, but will transfer the risk to the insurers in the exchange. This means that health care costs become more predictable and the exchange handles all the administrative and compliance needs, the company also said, cnn.com reported.
Walgreens, the nation’s largest drug store chain, joins a growing list of companies that have radically overhauled its employees benefits plans leading up to the implementation of major provisions under the Affordable Care Act.
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