Understanding and Reacting to the Health Care Reform in an Unsure Future
February 12, 2016 | New year means new ACA reporting requirements
After payroll, the next biggest expense to businesses is either inventory or health insurance premiums. The train of health care reform driven by the Affordable Care Act (ACA) is blowing through Iowa, greatly affecting those health insurance premiums. Like it or not, expect premiums to increase well above any increase in the Consumer Price Index.
Some want the train to take the tracks to the left and keep the Affordable Care Act in place, expand Medicaid and Medicare, and go even further to create a single universal health care plan for all Americans. Some want the train to take the tracks to the right and repeal the Affordable Care Act and replace it with another system. Going back to the old system is not possible.
The main point is, no matter what way the train of health care reform goes, it is already here and moving forward with the inertia of, well, a loaded freight train. Those who are waiting to see what the next election does or what set of tracks health care reform goes down will be too late in making the best decisions on health care for both their families and their businesses.
All political views aside, business owners need to understand what their options are now for their employees, and they need to understand ALL of their options. Agree or disagree with the way things are, but don’t let ignorance blind business owners and prevent them from making the best decisions. The rising cost of health insurance demands that all business owners understand the new options, both positive and negative, that the ACA offers.
My advice: Invest in the health of your employees now, support healthy initiatives within the workplace and out of the office, look at the future and expect the unexpected. Prepare for what you can now to make the best possible outcome for your employees once we arrive at the station. “Even if you are on the right track, you’ll get run over if you just sit there.” – Will Rogers