This statement may not conjure up feelings of happiness for many employers these days, but healthcare reform is now the law of the land. While the process is far from over and litigation is only beginning, employers must begin to understand the implications of the law and how to effectively achieve their strategy within the confines of the law.
As with any new set of regulations, the road will be complex, bumpy, and a bit uncertain; however, those that proactively understand how to make the new market conditions work for them will find opportunity.
Change is inevitable and thinking strategically is paramount; however, employers should be careful not to listen to all of the “experts.” In just the past few days, I have received emails, notifications, calls, and letters from so-called “experts” that have all sorts of claims and ideas about how to make the changes work for our clients. However, in this time of change, it is important to not listen to those with a solution in search of a need. These are people that will inform you they have the “answer” without knowing nearly anything about you. Rather, it is time to sit back, learn, and understand the market interactions of the new regulations and taxes and not only how that will affect your business, but also those of your competition. Those employers that think, plan, and understand will be far more successful than those that grasp for untested solutions.
Your comprehensive risk management partner delivering business insurance, employee benefits, HR solutions, 401K services and personal insurance to protect and boost your bottom line while growing the communities we serve.