Compliance with health care reform is already driving up costs for some employers' group health plans, and a majority of employers expect price increases to be passed on to employees, according to a Willis Group Holdings survey.
Though most employers haven't yet calculated the cost of compliance with the PPACA, of those who did, more than 55 percent said their total health care costs had risen at least two percent as a direct result of the reforms. More than 15 percent of those employers said their costs have risen in excess of 5 percent since 2010.
"Now that the health care reform act has entered the implementation phase, the costs and benefits associated with the act are coming into greater focus for employers," says Jay Kirschbaum, practice leader for Willis Human Capital Practice. "The survey suggests employers realize that costs of providing medical benefits will increase and that they will likely have to pass those costs on to their employees."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
