It’s important that you stay on top of rapidly changing rules and guidance. There are new rules and judicial opinions continually released by the IRS, courts, Department of Labor, Department of Health and Human Services, National Association of Insurance Commissioners, and state insurance commissioners.
For employers, regardless of whether an employer decides to “play or pay” in 2015 and beyond, there are other subjective factors (hidden costs) of health care reform that will impact company culture and strategic values or direction. These factors need to be considered in concert with the results of modeling and compliance tools orchestrated by a trusted adviser, including but not limited to:
- Increased reporting burdens, whether you “play or pay”
- Recruitment and retention challenges related to changes in total compensation
- Impacts to employee productivity and morale
- Changes in taxable income for both employers and employees
“What should we do?”
In simple terms, knowledge is information and facts of which someone is aware, and wisdom is the ability to make correct, common sense judgments and decisions based on the facts. Wisdom is an intangible quality gained through experience and expertise.
We are excited to provide you assistance and documentation in setting up your benefits plans, links to key documentation and updates on the latest changes, as well as notification to through our updates and newsletters. If you would prefer to put our 70 years of experience and expertise to work for you, contact us now. Sign up for ongoing Healthcare reform emails.