If you’re a broker who’s been trying to wrestle with the Patient Protection and Affordable Care Act (PPACA) “employer shared responsibility” requirement, you may have put the reps at your favorite professional employer organizations (PEOs) on speed dial six months ago.
If not, it might be time to think about spending more time talking to people like me.
The Obama administration has put off imposing the PPACA “play or pay” fines on large employers until 2015.
But decision makers at companies near the “large employer” cut-off have important questions to answer today:
- Am I really subject to this law?
- Should I offer benefits?
- What impact will this have on the way I do business?
This is where the importance of a trusted advisor comes in.
Historically, many decision makers worked with a broker to identify benefit plan offerings, negotiate plans and help roll the plans out. Most small to midsize companies chose to dedicate the resources to administer their benefits programs in-house, relying on their brokers for answers to basic compliance and reporting questions.
Fast forward. Times have changed.