One example of this is how 64 percent of respondents said that they felt their organization was either “very well” or “fairly well” prepared to address the risks associated with health care costs, yet only 56 percent regularly consult with an insurance or risk management expert.

Sixty percent of decision-makers at small businesses, defined here as those that employ 50 to 499 people, said that the Patient Protection and Affordable Care Act (PPACA) has had a negative impact on their organization. Some of the reasons of these feelings include, according to the report:

  • Higher health care costs

  • Reduction in the quality of health care benefits offered because of trying to manage costs due to PPACA

  • PPACA requiring excessive internal resources

  • Lower employee morale

  • Changes in hiring

  • Making it more difficult to recruit and retain well-qualified employees

The report includes the responses from 300 decision-makers from April 14-17, 2015.

How can you transform your risk management preparedness and response strategy into a competitive advantage?
 
Introducing ALM’s cyberSecure — A two-day event designed to provide the insights and connections necessary to implement a preparedness and response strategy that changes the conversation from financial risk to competitive advantage.  Learn more about how this inaugural event can help you reduce risk and add business value.

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