Employers expect ACA impact on costs in 2015
Two new surveys appear to show that an increasing number of employers expect the Affordable Care Act (ACA) to begin having a more pronounced impact on costs in 2015 for employers and employees alike. The Empire State Manufacturing Survey and the Business Leaders Survey found that employers generally expect health coverage costs to increase by 10 percent in 2015. Half of manufacturers and one-third of service employers expect the ACA will be a significant factor.
When asked if they were changing their plans in response to the ACA, 36 percent of manufacturers and 41 percent of service employers said they were not. Others reported they are planning to make changes ranging from higher deductibles to increased copays and employee premium costs. Respondents to the surveys, however, reported that a somewhat larger proportion of employees would be covered than in the past.
A story in the New York Times last week confirms that more people now seem to be getting health coverage through their workplace than in the past. Now more than ever businesses of all sizes need to investigate their options in order to comply with the ever-changing landscape. Please call us to review your specific situation – we’re always here to help.