Reasons to kill ACA’s employer mandate—One of 3 things you need to know this week in employee benefits
3 reasons to eliminate the employer mandate
Many HR/benefits managers would love to rid themselves of the administrative and compliance burdens that come with the Affordable Care Act (to the point of leaving the profession altogether), so a recent issue brief from the Robert Wood Johnson Foundation and Urban Institute might read like a dream come true.
The brief, “Why Not Just Eliminate the Employer Mandate?”, outlines three main reasons the ACA provision requiring employers to provide full-time employees with health coverage is unnecessary:
- Eliminating the mandate won’t significantly reduce Americans’ coverage levels.
- Removing the mandate also removes labor market distortions that harm some workers.
- The law instantly would be more popular among employers.
The writers do concede, however, that killing the employer mandate would make the law more costly from the loss of employer-paid penalties for noncompliance.
Report reveals benefits are still major drivers for recruitment, retention & engagement
The 2013/2014 Global Benefit Attitudes Survey puts in black and white what many industry professionals have long known: Health and retirement benefits are part of the foundation of a secure reward package.
According to the latest results from the survey, led by Towers Watson, not only do employees want more generous and secure benefits, there is a clear link between better benefits and a company's ability to attract and retain employees. While retirement and health care plans generally have similar attraction and retention effects, more generous and secure retirement programs can create a stronger bond between employers and workers.
The research shows that employers whose benefit programs meet employees' needs enjoy a significant competitive advantage in attracting and retaining employees. When such benefits are absent or the employer changes the deal, employees' financial worries often serve as a source of stress and distraction that can degrade employee engagement and productivity, which is ultimately a drag on company performance, perhaps even offsetting the direct savings from the change.
Employers who find the right balance are in the best position to increase the returns on their benefits programs, TW concludes.
This week’s hidden gem: Laugh—it’s good for your health!
Turns out, the saying that “Laughter is the best medicine” has science to back it up. A newly published infographic from Health Care Communication News reveals that laughter increases blood flow, reduces stress, boosts the immune system and enhances brain function.
Tempted to laugh off the data? Go ahead—it’s good for you!
