Walmart wants to cut health-care costs for employees and customers
The nation’s largest retailer has made reducing health-care costs one of its top priorities.
Health insurance is Walmart’s second-largest expense on its profit and loss statement (behind wages), Walmart executive Lori Flees said at a Minneapolis conference on the future on health care, reported CNBC. At the same time, rising health costs are cutting into the chain’s sales as customers spend more of their income on medication and doctor's visits.
"So these are the things that drive us to be interested in health care: Our customers need help,” Flees said. “Our associates need and want to be healthy. And it's good for our business.”
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Health insurance is Walmart’s second-largest expense on its profit and loss statement (behind wages), Walmart executive Lori Flees said at a Minneapolis conference on the future on health care, reported CNBC. At the same time, rising health costs are cutting into the chain’s sales as customers spend more of their income on medication and doctor's visits.
"So these are the things that drive us to be interested in health care: Our customers need help,” Flees said. “Our associates need and want to be healthy. And it's good for our business.”
Click here to read more.