24 Jan Exploring “Play or Pay” Businesses Still Unprepared for PPACA

Originally posted Wednesday 22, 2014 by Bill Olson on https://analytics.ubabenefits.com (UBA)

With every day that passes, the nation’s employers move a step closer to having to make decisions about whether or not they will “play or pay” with regard to the Patient Protection and Affordable Care Act (PPACA). Although results from United Benefit Advisor’s 2013 Health Plan Survey find that a majority of employers (76.58%) continue to be firmly committed to the value of providing group health insurance to active employees and their dependents, many still do not fully understand the options and implications of their various PPACA-related decisions. In response, UBA is offering a comprehensive white paper, The Employer’s Guide to “Play or Pay.”

PPACA is complex and each employer will need to base its decisions on its own particular situation and needs. The white paper is intended to help employers with effective benefit management, moving beyond compliance with health care reform to strategic cost control.

Topics covered in the “Play or Pay” white paper include:

• The facts about penalties and the pros and cons of “playing” or “paying”
• Compensation issues and how seemingly small decisions can have significant ramifications for all employers and employees (regardless of whether or not they offer benefits)
• Seven issues to consider beyond penalties; for example, lost tax advantages, reporting burdens, recruitment and retention challenges, and more
• How location, compensation, subsidies, Medicaid, family size, and income affect decisions

PPACA creates a highly complex set of “Play or Pay” decisions that demand careful thought when it comes to employee medical plans. No two employers face the same set of circumstances and each should base its insurance solutions on its own size, industry, region, workforce characteristics, financial considerations, and strategic goals for employee health.