Vast Majority of Employers Likely to Keep Coverage in 2014
By The Bailey Group Staff | January 7, 2013
According to the International Foundation of Employee Benefit Plans’ 2012 Post-Election Survey, 84 percent of U.S. employers are very likely to or definitely will continue providing employer-sponsored health insurance for all full-time employees in 2014, when the ACA-mandated exchanges open.
This number is higher than when individuals were asked the same question in June, possibly because many employers held off on making their decisions until after the presidential election.
Cited reasons for continuing to provide coverage include:
- Employee satisfaction and loyalty
- Collective bargaining agreement
In addition to focusing on compliance, many organizations are delving deeper into making wellness a part of their culture, and offering value-based health care and consumer-driven health plans.
A small number of employers plan to reduce staff or hiring efforts to avoid or limit ACA costs, but 4 percent of employers actually plan to hire more employees to help ensure ACA compliance.