|Copyright:||(c) 2010 PRWEB.COM Newswire|
The interim regulations on grandfathered plans under the Patient Protection and Affordable Care Act (PPACA) are designed to allow employers to keep their current plans and at the same time ensure that employees are protected from significant loss of benefits or increased costs. Federal guidance, effective
These restrictions pose a serious challenge to employers who wish to keep their plans under the grandfathering clause. With calendar-year plan renewal season in full swing, many employers are anxious to make decisions. However, various factors – especially a company’s location – make a one-size-fits-all solution for employers unrealistic and impracticable.
Many employers don’t believe the provisions will impact their health insurance plans. Others are considering how much flexibility they have to make changes to their plans and keep their grandfather status. Some employers are frustrated because they don’t even have a choice and others simply have not even started thinking about the topic. The real question for employers to consider is not how PPACA will impact them, but when.
“There is a lot of information and misinformation out there, and employers realize they don’t have the experience or interest to deal with it. Employers should always consider the savings versus the cost potential when keeping or implementing a new plan. But this has become more difficult since there are provisions of health care reform that have yet to be defined, said,
“Whether an employer stays grandfathered or not, PPACA creates a greater bureaucracy and administrative burden, making it even more important for employers to rely on a professional advisor for advice and support,” said
To receive the full 9-page report, “Striking a Balance: How Employers Can Make the Best Decisions on Grandfathering Their Health Plans”, contact your local UBA Member Firm.
Read the full story at http://www.prweb.com/releases/United-Benefit-Advisors/Whitepaper/prweb4847384.htm