Healthcare Benefits laws & compensation compliance analysis

Healthcare Benefits: What you need to know

What do employers need to consider regarding healthcare benefits? Healthcare benefits are an ever-increasing portion of employee compensation costs, but offering healthcare benefits to employees is often vital to recruiting and retaining the best employees. There are several different types of healthcare benefits plans that employers use to fulfill their organizations’ healthcare benefits goals.
While the Affordable Care Act (ACA) left much of the current employer-based system intact, the reforms have affected nearly every employer in the country. While there is still no federal law that requires employers to provide employees with healthcare insurance, employers with more than 50 employees that do not offer coverage, or do not offer sufficient coverage, are subject to financial penalties. In addition, U.S. citizens and legal residents, with few exceptions, are required to have qualifying health coverage.
The drive to control the cost of healthcare benefits continues to cause employers to implement a variety of cost-cutting and cost-shifting strategies ranging from self-insurance and managed care to defined-contribution, or consumer-directed, health plans. For information on other requirements relating to healthcare benefits,
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A variety of employer-sponsored group health plans are now used as employers and employees try to balance the needs to control costs, to provide quality coverage, and to provide choice in the selection of providers.
The major types of healthcare coverage now available include the following:
Traditional fee-for-service plans or indemnity plans. These plans reimburse providers for services and procedures provided to participants ...

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Healthcare Benefits Resources

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