Everybody loves an exciting finish. Remember the end of theAlabama/Auburn game this past season when a field goal attemptreturned 108 yards for a touchdown? Super Bowl parties are alwaysmore fun when it's a close game. Great stories and competitionshook us and keep us interested. And then there is the PatientProtection and Affordable Care Act.

Those of us in the benefits profession are watching this storyunfold a little differently than the general public and it's noteasy to know what the public is thinking. Are people interested inwebsite complications and changing deadlines? How many peopleenrolled in the exchanges? Are people concerned about penaltiesassessed if they don't have mandatory coverage? I suspect we willunderstand a lot more about public perception once the firstpenalty, err, tax is paid.

Unlike a movie tragedy or sports finale we watch forentertainment, the results of PPACA are going to stick around for awhile. Open enrollment is complete and much has being done to workout the kinks related to the exchanges. Individuals must complywith the mandate that requires a person to be covered by qualifyinghealth insurance in 2014 or pay a penalty.

Employers with 50 or more full-time employees, in the meantime,have another year before they must offer qualifying coverage toqualifying employees. The current administration allowed a delay inenforcement of the employer mandate to give employers more time toprepare for some requirements of the new law.

One of the postponed requirements is to offer qualifyingcoverage to any employee that works more than 30 hours a week.Sounds simple, right? It's not. The formula for determining whetheror not an employee is full-time vs. part-time is quite complicatedand one thing that employers need more time with to prepare.

Many large employers have stated their intentions to sendpart-time employees to the exchanges for coverage while othersintend to offer part-timers the opportunity to purchase the samequalifying coverage as full-time employees. Many employers arestill wrestling with big questions like “Will we offer qualifyingcoverage or not? What employees will we support and what style ofplan design do we offer?”

Where does that leave voluntary benefit plans for part-timeworkers? The benefit publications have greatly chronicled theopportunity for brokers with specialty and voluntary benefits, butfrom our perspective, employers are so focused on their majormedical offering and complying with PPACA that they are not payingattention to anything else.

What are they passing on? Voluntary benefits that are attainableand valued by the part-time workers, such as fixed indemnityhospitalization coverage, outpatient benefits, dental, vision,life, critical illness and short-term disability plans.

The need for voluntary benefits is especially pressing becauseof growing coverage gaps. Providing affordable and valuablebenefits via payroll deduction offers a valuable layer ofprotection for employees. In Texas, for example, if you make$21,000 a year, you may qualify for a subsidy. The monthly chargefor an individual for a bronze plan would be approximately $20-$30but would include a $5,000 or $6,000 deductible.

Someone who makes $10/hour is going to have a hard time comingup with cash to pay for medical expenses until they hit their$5,000 deductible. For just $10 per week, a person can purchaseguaranteed issue coverage that would pay in addition to the healthinsurance plan they purchase on the exchange.

Employers can easily make fixed indemnity hospital indemnitycoverage available via payroll deduction and included in thatweekly amount would be dental coverage to help the employeemaintain proper dental health. For $20 per week, a person could addoutpatient supplemental benefits, critical illness and lifecoverage to the aforementioned plan.

But convincing employers to provide voluntary benefits—even atlittle or no cost to the company—isn't necessarily easy. Take thecase of a large retailer that currently offers limited medicalcoverage to 35,000 part-time associates on a voluntary basis. Theadvent of exchanges and the promise of affordable care emboldenedthis company's decision to send all its part-time workers to theexchange for all their benefits.

The company is no longer hiring people who will work more than29 hours per week. One problem for these employees will beaffordability. Even with a subsidy, many employees will need to paya portion of the premium that will be onerous and will still beresponsible for out-of-pocket costs until they reach their $6,000deductible. Popular benefits such as dental and vision plans may bemore difficult to attain as an individual.

Conversely, take the case of a large casual dining restaurantgroup with more than 30,000 employees. This firm dropped a limitedmedical plan that had been provided a waiver, but decided to offerpackages of fixed indemnity and specialty benefits to its part-timeemployees.

They believe that good employees are attracted to workplacebenefits, regardless of part-time or full-time status. The abilityfor employees to purchase benefits helps retain employees. Even ifemployees only choose to pay for dental or vision insurance, theoffer could pay off handsomely if turnover is reduced.

These employers have taken radically different paths when it comesto providing or not providing benefits to their part-timeemployees. How can the broker community talk to employers aboutcoverage for part-time employees? It's a large (and growing)workforce, yet it's also complicated and time-consuming because ofits high turnover.

Why would an employer focus HR resources on its part-timeworkforce? And why would an employer offer benefits that don't helpindividuals comply with the mandate to their employees? What's thevalue in offering voluntary benefits? There are five keyreasons:

1. Voluntary benefits are a form of compensation and count when itcomes to recruiting and retention. Employers that need part-timeemployees may see increased competition for good workers as moreemployers look for part-time workers to fill their needs. Employeeswho purchase benefits through their employer have more to considerwhen it comes to changing jobs. Hiring and training will always beexpensive so tools to retain employees should be implemented.

2. Employees trust their employer's HR team more than their owndecision-making when it comes to purchasing insurance.Understanding the ins and outs of benefits is difficult. Employeesare not accustomed to shopping for benefits and would rather havesomeone with expertise aid their decision-making. Simple optionsthat have been vetted by HR professionals make employees feelbetter.

3. Group benefits are almost always a better value than individualbenefits. Employers buy group coverage and pass on importantfeatures like lower cost and minimal to zero underwriting for theemployee. This make for a much simpler enrollment. Making benefitsattainable for part-time employees promotes participation in thesystem versus outright exclusion.

4. Payroll deduction is the most convenient way to purchasebenefits. Employees like it, even if post tax.

5. Offering these benefits will not interfere with an employee'seligibility to apply for and receive a subsidy through an exchangewhen purchasing major medical coverage. All of the benefitsmentioned will pay in addition to any qualifying coverage that anemployee may have purchased.

Employers who take the lead in offering part-time employees theability to build out a benefit framework will win when it comes tohiring and retaining good employees. Restaurant groups, retailchains and staffing companies are facing hiring issues and many ofthem are turning to benefit plans to attack the problem. Look forproduct platforms that have experience with proper premiumcollection strategies when working with part-time employees andhave an enrollment mechanism for this population.

There are good options available for employers looking foraffordable coverage for their part-time workforce. Employers whoelect to offer voluntary benefits will reap the rewards in terms ofemployee morale and longevity. It doesn't have to be hard and theright partner can easily support the requirements of this highturnover, sometimes complicated workforce. And that makes for anexciting finish that everyone is hoping to experience.

Illustration © theispot.com / Keith Negley