Federal agencies continue to issue details on the Patient Protection and Affordable Care Act (PPACA). The latest cover eligibility waiting periods, employee notices and claims appeals regulations.
Join us for this 90-minute, intermediate-level webinar in which we will provide a brief recap on the HIPAA requirements for group health plans and highlight what’s new and what actions employers need to take to make sure they don’t run afoul with the law.
Join us for this 90-minute, intermediate-level webinar in which we will provide a brief recap on the HIPAA requirements for group health plans and highlight what’s new and what actions employers need to take to make sure they don’t run afoul with the law.
PPACA’s Jan. 1, 2014, effective date will be here sooner than you think. The stress of this impending law is compounded by its complicated nature – it has many provisions that depend on employee size, as well as other factors.
To alleviate PPACA c…
Need help wading through all those provisions and decisions related to the health care reform law? We have the top four resources that can put you on the right track and help you stay compliant.
By Mick Constantinou, Advisor, Employee Benefits
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With the biggest pieces of health care reform looming on the horizon, companies are asking themselves two main questions:
In the new era of PPACA, some companies will realize the inherent inefficiencies and costs associated with their internal silos and the risks these silos present in terms of quantify and qualify the impacts of PPACA. A Towers Watson study determined that 63 percent of organizations are reengineering key HRIS/payroll processes and seeking to increase alignment of their human resource strategy with their business strategy.
According to Tim Padva, CEO of CheckPointHR, “While some costs are unavoidable, top executives are often surprised to find out how much of the HR budget is spent unnecessarily. No company sets out to waste HR dollars, but without realizing it, most end up doing exactly that.”
The management of payroll, human resources and benefit processes is generally fragmented, which leaves many employers operating in a chaotic environment plagued by:
This was confirmed by a Price Waterhouse Coopers (PWC) study, which found that enterprises could save from 18 percent to 32 percent by optimizing their silo approach into a continuum approach. The same study found that small to midsize companies spend 43 percent more than larger companies (per employee per year) to handle payroll, workforce administration, time and attendance and health and welfare.
Mr. Padva continues, “This does not mean advocating a reduction in benefit plan quality, shifting excessive costs over to employees, or eliminating HR programs. In fact, when a thorough analysis is completed, companies are often able to broaden plan options, increase employee satisfaction and return money to the business.”
Access to consistent, accurate workforce data across silos also is important for determining the impacts of PPACA, regardless of whether an employer decides to “play or pay” in 2014 and beyond. The health care reform law creates a number of new compliance requirements that will impact employers and employees, such as:
Transforming process and database silos into an integrated benefit administration, human resources and payroll platform optimizes organizational efficiency (direct, hidden, and opportunity costs) and prepares decision makers for the important conversations that should be taking place during 2013.
Although the height of the flu season looks to be waning, employers can expect the effects of the annual wave of sickness among the U.S. workforce to linger for a few more months.
Although the height of the flu season looks to be waning, employers can expect the effects of the annual wave of sickness among the U.S. workforce to linger for a few more months.