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ACA Impact Survey Shows Higher Costs for Employers

| Health Care, Labor & Workplace
Cherry Bekaert Benefits Consulting recently conducted a 2014 Affordable Care Act Impact Survey. The results show higher costs for employers and a negative impact on hiring. Key survey findings include:

  • Employers are taking steps to control the cost of health insurance by either increasing contributions and/or reducing benefit levels.
  • In transferring cost burden to participating employees, the results are contradictory to stated objectives of ACA as it will be more difficult and costly for participants to access health care.
  • More and more employers are changing full-time positions to part-time to avoid employer requirements of the law which could negatively impact employee morale, productivity and loyalty.
  • Employers are frustrated with complexities, costs and administrative burdens imposed by ACA and increasingly considering the elimination or reduction of employee benefit plans.
  • Overall perception and trending impact of the law is negative with ACA reducing profits and making it more difficult for businesses to compete.
  • Check out the survey results infographic.

It is apparent from these survey findings that the implementation and complexities of the health care reform law have created a lot of uncertainty for employers and employees, alike. Tell us what you thinkon health care reform and how it impacts your business. Your input and first-hand expertise as a business leader and part of our Action Response Team is important to us!

Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber