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American taxpayers are spending billions every year providing Medicaid benefits to hundreds of thousands of employees of Amazon and Walmart, a new analysis by Popular Information reveals.
Amazon and Walmart are two of the largest and most profitable companies in the country — collectively generating $100 billion in profits in 2025 — but many of their employees still qualify for Medicaid because their take-home pay hovers around (or below) the poverty line.
As taxpayers keep their workers afloat, the wealth of the two companies’ largest shareholders is increasing exponentially. The Walton family, the largest shareholders of Walmart, saw their collective wealth increase from $238 billion in 2021 to $513 billion at the end of 2025. Meanwhile, Amazon founder and current executive chairman Jeff Bezos saw his net worth increase from $187 billion to $255 billion over roughly the same time period.
Popular Information calculated the public subsidy to Amazon and Walmart by cross-referencing several publicly available data sources. Last week, the Government Accountability Office (GAO) released a report examining the top 25 employers of Medicaid enrollees in six states: Georgia, Indiana, Maine, Massachusetts, Oklahoma, and Rhode Island. This provided state-level Medicaid enrollment for Amazon and Walmart workers in all six states, with the exception of Amazon in Maine.
Popular Information compared these figures to the total number of employees working for Walmart and Amazon in each state, sourced from company disclosures, to establish an average Medicaid enrollment rate for each company. The average Medicaid enrollment rate was then used to establish an estimated Medicaid enrollment for employees of each company in the remaining states.
Finally, the estimated number of employees receiving Medicaid in each state was multiplied by that state’s average annual cost of a non-elderly, non-disabled Medicaid enrollee, as published by the Medicaid and CHIP Payment and Access Commission (MACPAC).
Using this methodology, Popular Information estimates that, nationwide, over 156,000 Walmart employees are enrolled in Medicaid at an annual cost to taxpayers of approximately $1.04 billion.
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This figure significantly understates the true cost of Medicaid for Walmart employees to taxpayers. First, the calculation only includes the direct cost of Medicaid for the employees themselves. But Walmart’s low wages for these employees also makes their families eligible for Medicaid. Taking into account dependents, the cost to taxpayers would roughly double. Further, the most recent data on Medicaid cost per enrollee from MACPAC is from fiscal year 2023. Costs for 2025 and 2026 are likely significantly higher.
In Walmart’s 2026 fiscal year, then-CEO Doug McMillon was paid over $29.2 million in total compensation while the median Walmart worker earned $30,520 — a ratio of 958 to 1. The earnings of an average worker put them well below the cutoff for Medicaid eligibility for a family of three.
For Amazon, the same methodology finds that an estimated 123,000 Amazon employees are enrolled in Medicaid at a cost to taxpayers of $927 million.
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Amazon CEO Andy Jassy was given a massive compensation package of $212 million in 2021, mostly in stock that vests over 10 years. Jassy’s compensation has been smaller since; he was paid another $2.1 million in 2024. Meanwhile, the median Amazon employee earned $40,206 that year. This global number includes the many higher-paid technical employees who work at Amazon. Warehouse workers in the United States, and others in blue collar positions, make much less, making them eligible for Medicaid.
“Amazon is one of the largest job creators in the country, so looking at raw numbers instead of percentages is misleading,” an Amazon spokesman said in response to Popular Information’s request for comment. “Also, eligibility for both SNAP a