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Employers, having to find new ways to retain employees, keep them happy, and still maintain a profit, are changing the way they offer benefits at work.  Many employers, like UPS, GM, and others have made headlines over drastic measures.  While some on the right would like for you to believe that this is in response to The Affordable Care Act, it’s just as much to do with the rising tide in administering health care, and putting more of the responsibility on the employee.

It actually should have been called, “The Responsibility Care Act for Business”,

So, what are Employers doing?  Some, like Kroger, are paying only a fixed amount for certain prescription drugs or procedures, allowing the employee to shop around for the best value.  IBM is giving rebates to employees who adopt healthy lifestyles.  Other, smaller employers, are offering High Deductible Health Plans, and marrying them with Health Savings Accounts.  They are then educating their employees how to properly use these plans to more economically provide themselves with health care.

Austerity seems to reign supreme, as we look to the future of Employer Covered Healthcare.  It will actually get the employer out of the health insurance business, and back to concentrating on running their businesses, while letting the individuals have more control of their health care dollar.  Oddly enough, for all the bad press the Affordable Care Act is getting in this arena, this is one of the few, good, elements to arise from it.

If you own a small business, or work for one, and want more information on Employer Mandates, etc., call me at 404-551-5339 or email me at: bob@legacyfinancialpartner.com