Health Care Reform Is Triggering Benefit Changes

With Affordable Care Act deadlines imminent in 2014 and 2015, employers are saying the increased effect of health care reform on various aspects of employee benefits, according to a Prudential survey. Vishal Jain of Prudential said, “The Affordable Care Act could…usher in a new …emphasis on voluntary benefits. More employers are utilizing them for recruiting and retaining talent and employees increasingly view them as a cost-effective way to protect their family’s financial future.” With a shifting benefit landscape, carriers are now focused on being a trusted resource for employers while offering a full spectrum of services such as enrollment communications, benefit education, record keeping, and administrative services,” Jain said.

The survey reveals the following about employers:
• 49% say they are extremely or very likely to make a high-deductible health plan their only health insurance option.
• 73% say the law is having an effect on benefit service and support and 69% say there is an effect on benefit communications.

The survey reveals the following about employees:
• They are increasingly confident that more Americans will be covered under the Affordable Care Act (43%, up 7% from 2012).
• An expanding number say fewer employers will offer health insurance (44%, a 13% increase from 2012), and 38% of those employees believe their employer will drop coverage.
• About one-third have heard of but know little about public or private exchanges.

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Last Updated 01/11/2022

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