Milwaukee, WI – June 18, 2014
For the past three years, Zywave has been surveying employers about their experiences with the Affordable Care Act, including issues of compliance, confidence and impact of the law in workplaces. The 2014 survey results revealed that as the law turned four, employer concerns are ever-evolving, along with some provisions of the law.
Zywave surveyed over 2,000 brokers in early 2014, reflecting a breadth of employers, though the majority – 87 percent – of organizations surveyed employ fewer than 500 employees. There was some interesting trend variation over the past few years as employers adapted to the law and adjusted their perceptions accordingly.
Offering coverage
Whether or not employers will continue to offer health benefit coverage has been a point of discussion since the inception of the Affordable Care Act. In 2014, we saw a significant uptick in employers who say they will definitely continue to offer benefits coverage to their employees. Sitting at 51 percent just two years ago, 60 percent now say that they will definitely offer coverage to their employees for the upcoming 2015 enrollment period, while 26 percent are likely to continue to offer health benefit coverage to their employees.
One of the largest changes in the survey from previous years is that offering health coverage to full-time employees is a major concern for only 12 percent of respondents; the previous two years, it was a concern for nearly 60 percent of those surveyed. Legal content director Erica Storm says, “This dramatic decrease is a striking example of the evolution of the ACA’s impact on employers. As more guidance is issued, and employers become familiar with the requirements and make and implement their plans, deciding whether or not to offer coverage to full-time employees becomes a more manageable task.”
Administering coverage
The issues causing the most concern for employers in administering health care reform changes have also evolved over the past three years. While in the past, offering health coverage to full-time employees was by far the top concern, this year most employers are concerned about health plan fees (49 percent) and premium rating changes (also 49 percent). Additionally, about one-third of employers (34 percent) are concerned about reporting, disclosure and notification requirements and approximately another third (31 percent) are worried about implementing cost-sharing limits.
“Overall, employers seem to be coming to terms with the changes that we have seen in health care and taking action steps to implement their plans,” says Dave O’Brien, CEO at Zywave. “As the ACA continues to evolve and expectations and requirements for employers continue to change, we’re seeing top brokers take on a more consultative role, becoming their clients’ trusted advisor for all matters health care.”
Full survey results are available exclusively to Zywave Partners and their clients.
About Zywave
Zywave is the leading provider of software-as-a-service (SaaS) technology solutions for the insurance industry. The company’s products include Web-enabled marketing communications, business intelligence and analytics and agency automation tools. More than 2,700 brokerages worldwide, including 93 of the Top 100 U.S. insurance firms use Zywave’s proven solutions to help them differentiate from the competition, enhance client services, improve efficiencies and achieve organic growth. To learn more, visit www.zywave.com.