Since the passing of the Affordable Care Act, many businesses have considered dropping health coverage and letting their employees purchase coverage from the health exchanges. While this may seem like a money saving strategy, there may be financial and personnel repercussions.
You may suppose that the only way to minimize the impact of health care reform on your business would be to slash benefits or employee hours, but this is not the case. Taking time to evaluate your employee population and offering a strong benefits package is still a good business decision.
Health Care Reform is not going to just affect your business. It will have far-reaching effects on each of your employees, to include complying with the individual mandate. Many of the effects will be positive, however, such as the removal of benefits limits and preexisting conditions.