82% of mid-to-large size employers surveyed in a recent Towers Watson survey will continue to view health care benefits as a key element of their employee’s compensation in 2014. Despite the impending Obamacare mandates and ACA excise tax - known as the Cadillac Tax - employers continue to value health insurance benefits.
As employers move forward they will be looking to keep their plans affordable and viable - maintaining a sustainable plan amidst cost increases (5.2% increase projected for 2014). Full article on Towers Watson survey results.
Wisconsin based employers are considering a self-funding approach or adding additional voluntary benefits such as dental, vision, life insurance and disability insurance to offset any changes they may be implementing.
We've always known that offering quality health insurance coverage is a critical part of remaining competitive in today's talent marketplace. This news is just a reiteration of what I am seeing on the street when I talk to my customers and prospects. Smart, educated decisions moving forward will help curtail any pain PPACA might inflict.
For Wisconsin employers interested in self funding options or voluntary benefits for their plans, please contact me.