The bill would not require companies to offer affordable insurance to workers, but it would shed light on their practices and establish how many workers rely on publicly-funded programs such as Medicaid, a state-federal program for those who cannot afford medical care.
"Programs like Medicaid provide a critical safety net for low-income women and children, the disabled, and the elderly and shouldn't be a profit center for large companies like Wal-Mart," said Sen. Edward Kennedy on Massachusetts, one of the bill's sponsors.
Wal-Mart denies charges that it steers workers toward public assistance and says it typically picks up two-thirds of the cost of health insurance premiums for its workers.
Spokesman Nate Hurst said Wal-Mart employees can choose from health insurance plans starting at $40 a month for a single person and less than $155 a month for family coverage.
Kennedy, John Corzine of New Jersey and New York Democratic Rep. Anthony Weiner, plan to introduce the bill on Wednesday.
It is unclear if the Health Care Accountability Act will advance in the Republican-controlled Congress.
The measure would not single out Wal-Mart. A Kennedy aide said a similar law in Massachusetts found that Wal-Mart placed third in the number of workers on public-sector health care in the state, after Dunkin' Donuts, soon to be acquired by Pernod Ricard (PERP.PA: Quote, Profile, Research) from Allied Domecq Plc (ALLD.L: Quote, Profile, Research) , and the Stop & Shop grocery chain, a unit of Dutch retailer Ahold (AHLN.AS: Quote, Profile, Research) .
But some state legislators have focused on Wal-Mart because of its size and ranking as the world's biggest retailer.
Maryland lawmakers approved legislation recently that would have effectively forced Wal-Mart to spend more on employee health benefits but Gov. Robert Ehrlich vetoed it.