Despite an order by Trump to minimize the burden of the Affordable Care Act, industry experts say nothing will happen soon, and even after any repeals, plan sponsors may keep doing what they are doing.
Bruce Ashton, partner at Drinker, Biddle and Reath LLP, shared his thoughts at the 2016 PLANADVISER National Conference about what the outcome of the presidential election could mean for the employee benefits industry.
Employers are struggling with how to provide a valuable health care benefit in a cost-effective way, while employees, underprepared for retirement, view the projected health care costs as a top concern.
“Under play or pay, employers have had to modify their plans, track worker hours, manage eligibility and report coverage to prove they are doing something they have been doing all along,” says Tracy Watts with Mercer.
A GAO report says claims of the small employer health tax credit have continued to be lower than thought eligible, limiting the effect of the credit on expanding health insurance coverage through small employers.