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3 things for HR to do amid health care reform turmoil

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in Compensation and Benefits,Human Resources

If it’s Monday, there must be a new plan afoot to overturn the Affordable Care Act. Legislation once thought dead seems to have a way of snapping back to life these days, notes Tracy Watts, a health care reform expert with the Mercer consulting firm.

“It’s certainly worth paying attention to the latest [legislative] happenings, but remember, nothing changes until we get a law,” she says. In the meantime, here’s her to-do list for HR professionals to focus on while the legislative battles rage:

Continue to comply with the ACA. Employers still need to follow the rules on offers of coverage, minimum value and affordability and use of the new Summary of Benefits and Coverage template. (Find official guidance at tinyurl.com/DOL-SBC-guide.)

Review excise tax projections. The so-called Cadillac tax won’t take effect until 2020, and it remains one of the ACA measures most likely to be repealed. Until it is, carefully track any coverage you offer with annual premiums exceeding $10,800 for individuals or $29,500 for a family.

Consider adding an HSA benefit. Health savings accounts offer financial advantages to some employees regardless of what happens to the ACA. Consult your broker or insurance carrier to explore HSA options.

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