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When the Affordable Care Act took effect, many existing health plans were granted exemptions to some of its requirements, allowing insurers to continue offering low-cost health care plans. Such plans were allowed to remain in existence as long as they had been continuously offered since March 0f 2010 and certain changes hadn’t been made. As noted by Modern Healthcare, approximately 13% of covered employees were enrolled in such a plan in 2019.
But times have changed. Or rather, health care costs have.
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Emily Payne is managing editor at BenefitsPRO. A Wisconsin native, she spent the past eight years writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
Competing successfully in today’s labor market means moving away from reactive recruitment practices that are overly reliant on compensation. Instead, take a more strategic approach with innovative add-on health benefits that complement core benefits and can be tailored to the needs and wants of a diverse workforce. Download this guide to learn how.