NEW YORK (CNN) -- Wal-Mart Stores will be offering new employees low premium high-deductible plans starting January 1, 2007.
The new plan offers $11 monthly premiums and deductibles of $1,000 along with 3 doctor visits and 3 generic prescriptions filled for just the co-pay price before the deductible kicks in.
Traditional plans that offered annual deductibles as low as $350 for a yearly premium of $1,043 for an individual, will be dropped for new hires.
Chris Kofinis of WakeupWalmart.com notes that Wal-Mart only offers catastrophic health coverage that no employee could afford. "God forbid they get sick."
"It's shameful when you consider that 54 percent of their employees don't have healthcare," Kofinis said.
Well, Walmart has to cut costs where it can. To continue to bring you a whopping 3% savings on retail. After all:
(AP) -- A list of the 102 richest Americans, according to Forbes magazine:
1. William Henry Gates III, 50, $53 billion, Medina, Washington, Microsoft
2. Warren Edward Buffett, 76, $46 billion, Omaha, Nebraska, Berkshire Hathaway
3. Sheldon Adelson, 73, $20.5 billion, Las Vegas, Nevada, casinos, hotels
4. Lawrence Joseph Ellison, 62, $19.5 billion, Redwood City, California, Oracle
5. Paul Gardner Allen, 53, $16 billion, Seattle, Washington, Microsoft, investments
6. Jim C. Walton, 58, $15.7 billion, Bentonville, Arkansas, Wal-Mart
7. Christy Walton and family, 51, $15.6 billion, Jackson, Wyoming, Wal-Mart inheritance
7. S. Robson Walton, 62, $15.6 billion, Bentonville, Arkansas, Wal-Mart
9. Michael Dell, 41, $15.5 billion, Austin, Texas, Dell
9. Alice L. Walton, 57, $15.5 billion, Fort Worth, Texas, Wal-Mart
11. Helen R. Walton, 86, $15.3 billion, Bentonville, Arkansas, Wal-Mart
Only five of the eleven richest Americans are Waltons. With a net worth of only about 80 billion dollars. And, you know, the Waltons own more than half of Walmart's stock. And Walmart has to cut costs somehow to keep the shareholders happy.
Five people, 80 billion dollars. And they're nickeling and diming Walmart associates.
Well, it's bidness, as Sam's ghost might say.
Though, another ghost might say, "Mankind was my business."