Employers have one perspective on the Affordable Care Act (ACA). Employee benefits providers have another.
In late July, Bass Pro Shops settled with the Equal Employment Opportunity Commission (EEOC) for $10.5 million dollars and a promise to enforce certain initiatives, including the creation of an Office of Diversity and Inclusion.
Today, President Trump signed an executive order intended to loosen regulations currently enforced under the Affordable Care Act (ACA). The order specifically directs the Treasury and the Department of Labor to:
- Expand rules for association health plans, allowing more employers to ban together and purchase healthcare plans, including plans across state lines;
- Loosen regulations on and make available short-term limited duration insurance that’s not subject to the essential health benefits mandates of the ACA; and
- Create rules that allow employees to use Health Reimbursement Arrangement (HRA) funds to pay for healthcare premiums
In July, Republicans made dramatic efforts to pass Affordable Care Act (ACA) repeal and replace legislation. Middle of the night theatrics played out a failed vote as Senator John McCain (AZ) cast the deciding “no” vote. For all intents and purposes, it appeared that Republicans were moving on from health care reform and looking towards immigration or tax reform. However, this September, Republicans decided to make one last-ditch effort to surge for repeal and replace.
The Affordable Care Act (ACA) caused a mild earthquake in the American economy, shaking up industries across the board. While insurance companies and hospitals felt the tremors, some of the largest changes brought on by this regulation hit other organizations typically behind the scenes. One of them is payroll providers.
Benefits brokers used to have a well-defined job: Sell health care benefits to companies for a commission and occasionally answer employer questions about these services.
Everyone likes growth, but no one likes growing pains. Unfortunately, you can’t have one without the other. More employees, more revenue, and more influence undoubtedly come with more paperwork, more responsibility, and more regulations.
Ready or not, it’s almost time for the next wave of ACA and EEOC reporting.
Professional Employer Organizations (PEOs) have long been a helpful resource for businesses looking to provide the best benefits to their employees. The growth the PEO industry has seen in recent years just proves this point. But as regulations become more complex, and continue to vacillate between rolling out and rolling back, it can be difficult to ensure you’re offering all the best options to your customers without overtaxing your organization. With the increasing complexity of HR mandates, health care regulations, and other employer regulations, PEOs have been looking for new ways to help companies struggling to cover all these requirements on their own.
After all the ups and downs faced by the Affordable Care Act (ACA), it’s likely your health care data took a back seat to other concerns for the first eight months of the year.