Dive Brief:
- Facing a myriad of reforms and regulations, 60% of employers say they need help navigating the complex Affordable Care Act (ACA) terrain as new administrative and compliance requirements are around the corner, a recent survey found.
- Additionally, 61% of employers surveyed cite “preparing for a post-healthcare reform era” as a highly important benefits objective, but only four in 10 feel prepared to meet the objective, according to the third annual Guardian Workplace Benefits Study, from The Guardian Life Insurance Company of America.
- One in three employers expect to outsource more aspects of their benefits program as a direct result of the ACA, while nearly 70% expect greater compliance and administrative burdens. And of those thinking of self-insuring their healthcare plans, 58% say the ACA is the impetus and half of those planning to self-insure expect to carry stop loss insurance, as 78% of employers expect benefit cost increases due to the ACA.
Dive Insight:
Brokers and carriers are needed to play a strategic role in helping employers navigate the ACA, and in identifying the best options for how they can move forward in a changed benefits landscape, according to Ray Marra, senior vice president, Group Products at Guardian.
“As employers adapt to the ACA, we’re seeing greater adoption of private exchanges and self-funded medical plans paired with stop loss insurance, so employers can deliver the workplace benefits their employees rely on while addressing the challenges they are facing," Marra says.