Though it’s the talk — and concern — of companies nationwide (and has been for years, now), most employers still haven’t gotten around to measuring the cost impact of Obamacare.
That’s the significant finding from a new survey of more than 1,000 employers from broker Willis.
Only 37 percent of respondents said they’ve identified the cost impact of the Patient Protection and Affordable Care Act on their health plans in 2014. While that’s more than the 28 percent of respondents who said they identified the costs in last year’s survey, “it demonstrates that for many organizations, determining an accurate assessment of these figures is still a challenge,” Willis said.
Those that have measured the expected impact say the Patient Protection and Affordable Care Act will be increasing their costs. More than half (54 percent) noted a cost increase between 0 percent and 5 percent while 22 percent estimated their increase in the 5 to 10 percent range.
“Responding to the mandates and changes required by health care reform has been an evolving challenge for employers since the law’s implementation,” said Jay Kirschbaum, practice leader of the Willis Human Capital Practice’s national legal and research group.