Health reform still a concern, but new fears top employers’ lists
It’s been four years since the Affordable Care Act was passed, and firms have become increasingly more comfortable with the administrative burdens the law piled on. But there are other concerns keeping HR pros and the executive suite up at night.
More than half (56%) of employers cited rulemaking and increased federal enforcement as their top worry this year, according to Littler Mendelson’s 3rd annual Executive Employer Survey.
This stems from federal agencies having recently ramped up everything from Family and Medical Leave Act (FMLA) and misclassification investigations to interdepartmental communication. Plus, the Obama administration has promised major changes to the Fair Labor Standards Act (FLSA).
Another major area of concern for employers: workplace privacy. The study found that 74% percent of firms listed this as either their greatest or their second-greatest concern.
To prevent problems in these areas, 56% of employers have developed stronger internal compliance programs, the study found.
A significant decrease …
Although worrying over the Affordable Care Act has decreased, it’s still a major concern for employers.
The study found that 41% of employers are worried Obamacare will have a significant impact on them this year. That’s a pretty significant drop from the 57% of employers who responded this way in 2013.
In addition, the study uncovered the steps employers are taking in response to the Affordable Care Act. These included:
- Enlisting the help of benefits attorneys or consultants (58%)
- Implementing employee wellness programs (52%, presumably to try to lower healthcare costs)
- Offering healthcare benefits through private health insurance exchanges (26%), or
- Limiting more employees’ weekly hours (25%).
And 39% of firms aren’t doing anything in response to Affordable Care Act regs because they feel they’re still on course for compliance.
Info: This article previously appeared on our sister site HR Benefits Alert.
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