Health Care Reform will change the way employers make business decisions now and into the future. Employers can no longer guess at what mandate will affect their business or what changes need to be made and when. That makes NOW the time to work with a consultant that can provide the analysis necessary to make the best decisions.
Gibson has developed The HCR Roadmap - a solution for employers that provides information, analysis, and customized recommendations to guide them in navigating the Health Care Reform landscape. The HCR Roadmap follows a multi-step approach to identify what actions need to be taken to meet business objectives.
This is not a ‘one size fits all’ approach. The HCR Roadmap is specific and unique to each organization based on your:
- Employee population
- Employee contributions to medical coverage
- Plan designs offered
- Employee income
- Number of hours worked
- Employer’s marginal tax rate
Employers need to consider the contribution and plan design structure of their current program and the cultural impact of Health Care Reform on their company and employees. Will they need to change current offerings, drop them all together, or make significant changes to be in compliance? It will be critical to know the financial impact of Health Care Reform fees and potential tax.
After a thorough review of these key elements it will be important to develop a sustainable and strategic health care approach that aligns with the business strategy.
Every employer varies in their culture and the priority of offering employee benefits. Typically, it comes down to three factors: competition for talent, benefit goals, and the source of your competitive advantage.
If employers consider dropping coverage and increasing employee pay as an offset, do the potential savings, if any, justify the potential disruption associated with such a move?
If an employer has a large percentage of subsidy eligible employees, what options - outsourcing, adding a targeted benefits tier, etc. - should they be considering?
The HCR Roadmap provides an analytical tool to model financial impact and the guidance of knowledgeable advisors to help employers answer these questions and put together a winning HCR strategy.
