Sponsored Contentby Maestro Health

Healthcare premium rates are now increasing at a faster pacethan employee compensation. According to the 2015 Employer HealthBenefits Survey conducted by The Henry J. Kaiser FamilyFoundation:

• Average annual premiums for employer-sponsored health insurance(family coverage) was up 4 percent over 2014.
• Worker contributions to family coverage increased 2.7 percentfrom 2014 to 2015.
• Workers’ wages increased just 1.9 percent during the sameperiod.

Compliance costs also hamper profitability. IRS penalties formissing or late ACA paperwork are now more than $3 million forthe largest companies. According to one report, 2016 will mark the costliest year yetfor ACA compliance. The administrative time spent working onoutdated technology will likely be a contributing factor to thesecosts. A recent survey sponsored by Maestro Health shows that 75percent of brokers say ACA compliance is among their clients’ topHR/benefits priorities in the next 12 months.