Now (with 10/1/13 date looming), is the time for us, as CFOs, to answer these key questions: • What are the key components of ACA that will survive, and what do I need to do to ensure alignment with the short and long-term framework(s)? • When and how will key provisions be implemented and enforced? • How do I protect our company against the risks associated with the health reform law? What are your thoughts?
What are the key components of ACA that will survive, and what do I need to do, as CFO, to ensure alignment with the short and long-term framework(s)?
Answers
Please take a look at a blog I posted on this site - "What Will Be Your Healthcare Strategy for 2014?" While I believe revisions are possible, it makes more sense to plan for full adoption, then be caught unprepared. The recent provision change does not alter the law, only the implementation timeframe.
Thanks, Regis -- Very helpful -- especially since I am gearing up to host a 'whistle stop tour' of
What ever tack you take, remember that ACA will morph, dates will change, paperwork will increase, so your strategic and tactical plans must be a) examined monthly and b) very very dynamic.
One option many overlook...using the services of a PEO (Professional Employer Organization). A) you become part of a large group (employee health plan) B) typically, your premiums are driven down and C) the administrative relief from a PEO will result in them tracking and following all the mandates and requirements as well as handling sending out all the notices in a timely fashion to help you avoid costly penalties of noncompliance.
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Not all PEO's are the same, and even the best of class sometimes clash with corporate cultures.
Examine both issues carefully before signing on. That said, I agree that moving to a PEO eliminates a tremendous pint of administrative work and provides stronger buying power.
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Human Capital