Health insurance is possible for part-time employees as well. Around 13 companies are willing to extend health insurance to their part-timers. However, the majority of enterprises give full-time health coverage to permanent employees.
As of 2022, the average cost of a company-sponsored health insurance plan is around $22 463.
The move is widely perceived as an attempt to reduce the employee attrition rate.
Starbucks is part of the list of companies offering this benefit. At Starbucks, Hourly employees become qualified for help, such as health insurance. However, they must continuously work 240 hours a day for three months.
To staff its locations across the nation, JPMorgan Chase recruits a sizable number of associate bankers on a part-time basis. These workers are qualified for health insurance as long as they are consistently scheduled for at least 20 hours per week.
The Fair Labor Standards Act does not specify any other distinction between full-time and part-time employees than the amount of time they commit to their jobs.
The employers can decide on any other criteria applicable to part-time and full-time employees.
For companies, this approach has proven as an effective way to retain employees to a very great extent.