Richmond, VA (PRWEB) July 17, 2014
With any of the key components of the Affordable Care Act (ACA) now in effect, a recent ACA survey highlights several trends regarding how employers are responding to the law. Experient Health, the health insurance arm of the Virginia Farm Bureau, reported the results of the survey in its latest Blog post, which is part of a series to keep the community informed of changes under health care reform.
The majority of employers are choosing to “play” when faced with offering coverage or paying a penalty—86 percent of respondents either definitely will or are likely to continue offering coverage to employees, Experient Health reported.
"This number increased nine percentage points over the last two years, while the percentage of employers that are unsure or chose a discontinue option dropped by 10 percent," Experient Health wrote.
Overall, employers report that health care costs are increasing.
“Nearly 7 in 10 respondents said that ACA changes have increased their organization’s health benefits costs or that they are expecting future increases," Experient Health wrote. "More than six in 10 respondents say they are passing costs along to their employees, and four in 10 say they are reducing health benefits and programs. One-third of respondents are absorbing some of the increased costs themselves.”
Despite rising costs, employers’ confidence in their ability to comply with ACA rules rose dramatically in the last year. Two-thirds of respondents indicated that they are very certain they are in compliance, and 45 percent consider themselves very prepared when considering future ACA provisions.
Have questions about this survey, ACA or coverage for families and employees? Contact Experient Health, a Virginia Farm Bureau Company, for more information or visit their online quote engine today.
Experient Health’s online blog also shares more information regarding evolving employer concerns from the recent ACA survey.