According to our analysis of state-level data from September 2025, the employers who employed the most Medicaid enrollees or SNAP beneficiaries varied across the 11 states that provided data. However, 46 companies (about one-third of the total companies across all 11 states) were among the top 25 employers of Medicaid enrollees or SNAP beneficiaries in at least two states. Seventeen of these 46 companies were among the 50 largest Fortune 500 companies by number of employees.