Thank you for sharing!

Your article was successfully shared with the contacts you provided.

As health care reform provisions are coming down, human resources and finance departments are practicing an increasingly shared role when it comes to benefits, rewards and compensation, says Randall Abbott, senior health and group benefits consultant at Towers Watson, a global professional services company in New York City. While health care reform and associated costs are not the only factors influencing this stronger partnership, they are catalysts because they are issues that affect an employer’s HR department as well as its finance department. For the HR department, health care reform affects the budget for compensation and talent management while overall business costs are impacted by the upcoming provisions, which is a concern for the finance department.

“Many organizations are seeing health care reform increasing their costs from 0.5 percent to 4 percent for health care, and that’s just in the most recent times,” Abbott says. “In the longer term for 2014 and 2018, various health care reform mandates are being created that add costs that will affect compensation and the financials of a business.”

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com 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?

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.