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Many CFOs value continuing healthcare options

Posted On Tue, May 1, 2012

Even with the uncertainty around the future of healthcare in the workplace with the Affordable Care Act set to take effect in 2014, many chief financial officers noted there is a place for health insurance policies in the workplace, no matter what happens, according to the Integrated Benefits Institute.

As the mandate gets closer, more CFOs are getting behind insuring their workers, no matter what. In total, 80 percent noted that having health insurance available for employees is key to having a skilled group of employees. In addition, other important aspects to having insurance included improving employee satisfaction, a continued ability to help consumers live healthy lives and keeping workers' productivity at elevated levels.

"These concerns indicate that CFOs see medical coverage as a competitive necessity in managing human capital, rather than simply a cost to be minimized," said Dr. Thomas Parry, president of IBI. "While there is widespread speculation among employers, insurers, benefits professionals and corporate leadership as to how organizations will respond as this historic legislation is rolled out, it's apparent that the C-suite sees the importance of medical coverage not only as a means to maintain a skilled workforce but also as a tool to be leveraged in improving employee health and productivity."

The report added that CFOs are not particularly worried about regulations from the Affordable Care Act, and for most, these won't affect their overall decision.

Americans who are still unhappy with their workplace's plan, or work for a company that does not offer such options, there are still policies available. By going online and obtaining multiple health insurance quotes, a consumer may be able to find a plan that fits their needs, and also doesn't break the bank.

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