Walmart, Target and other retail giants agree to pay millions of dollars to help hospitals cover more of their healthcare costs

More than a dozen large retailers and health care providers signed a $2 billion agreement Monday to spend $2.6 billion over five years to help support hospital care for the uninsured and those with chronic conditions, according to a letter signed by the CEOs of Walmart, Costco, Walmart, Walgreens and Rite Aid.

The health care deals come after Congress approved a $8 billion package to help fill the gap in Medicare and Medicaid spending that has driven rising health care costs in recent years.

The money will be divided between hospitals and states, and not paid to the private insurance companies that are paying part of the costs.

The agreements come as President Donald Trump is seeking to cut taxes, while Democrats are pushing to expand Medicare coverage.

Walmart and Costco, which have a combined global workforce of more than 8,000, have made large investments in healthcare since Trump took office in January.

The deals come just a few months after Walmart announced it would buy Whole Foods for $13.5 billion, a deal that was a major boost to its stock price.