Home Depot offers ‘no-fault’ medical insurance for disabled vets
Home Depot has announced plans to offer medical insurance coverage to disabled vets who can afford it, including those who need to keep a low profile in order to maintain a low level of activity.
The company said in a blog post on Monday that it was the first U.S. retail business to offer such coverage for veterans, including for those with chronic medical conditions.
“Vets can be very lonely, and having a home with other people to look after and care for can be overwhelming,” the company wrote.
“While there are a variety of ways that we can help a vet maintain a busy schedule, Home Depot is the first company to offer a full health care coverage to its disabled veterans.”
The plan comes as the company’s stock has risen after a deal was announced in September for it to purchase General Electric’s robotics business for $12.5 billion.
Home Depot said it would use the cash infusion to expand the robotics division and improve the company.
The Home Depot blog post says it would provide access to “a wide variety of health and wellness services including chiropractic, massage, physiotherapy, dietetics, fitness, home maintenance and home repair.”
The blog post said it was part of a plan to expand its disability services and that the company would use some of the cash to invest in “new technology.”
The company did not offer any specific details on how the plan would work.
A Home Depot spokeswoman declined to comment.
The U.K.-based company has been criticized for its pricing of disability insurance and its limited coverage.
Last year, the company lost an appeal by a woman in South Carolina who was diagnosed with fibromyalgia and was forced to pay for insurance under her employer’s plan.
Home Depot said last year that it would pay $1.4 billion in annual premiums and deductibles for its disabled employees.