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Employers bracing for impact ahead of PPACA law

Posted On Fri, March 1, 2013

By the time the Patient Protection and Affordable Care Act goes fully into effect, the framework of employer-sponsored health insurance will have a decidedly different look and feel, a new round of research suggests.

According to human resources provider Aon Hewitt, approximately 66 percent of employers that offer health insurance to their workers say that they will approach these benefits packages in a different way once January 1, 2014 rolls around - the date in which the PPACA becomes law. One way in which this may be illustrated is requiring employees to take on a more direct role in how they manage their health and healthcare.

John Zern, executive vice president of benefits at Aon Hewitt, indicated that many companies don't know what to expect with the health reform law and are preparing for all possible avenues.

"Employers are staying in the game, but they are taking bold and assertive steps to achieve more effective results - and they are doing so at a faster pace than we've seen in prior years," said Zern.

The poll revealed that an estimated 94 percent of companies surveyed say they will continue to offer healthcare benefits to their workers in 2014 and beyond and will likely keep doing so for at least three to five years after the health reform law goes into place.

To err on the side of caution, policyholders may want to review several different health insurance quotes should they lose their employer-sponsored coverage. A recent report issued by the nonpartisan Congressional Budget Office indicated that as many as 7 million Americans could lose their coverage, due to employers dropping plans because of excessive costs.

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