Small minority of employers more familiar with Health Care Reform overall: New study

As provisions of the ''Affordable Health Care for America Act'' continue to come into effect, there is a tremendous need for employers across the country to learn about its impact on their businesses and employees, according to the results of "Health Care Reform 360 degree," a new national study by Market Strategies International, the highly-regarded global market research and consulting firm.  

"While it is not surprising that a small minority of employers consider themselves very familiar with Health Care Reform overall, what is interesting is the types of employers in this group," said Susan McIntyre, senior vice president in the company's Health Care Division.  "We would expect, and have found, that larger companies which typically have dedicated benefits staff and consultants tend to be more familiar with the law than smaller firms.  What is surprising is that employers who are unlikely to offer health benefits in 2014 also tend to have higher levels of familiarity.  This indicates that a number of employers are actively educating themselves and their companies and weighing their options very thoughtfully.  Our study is currently indicating an estimated 10% net decline in access to employer-sponsored benefits in 2014, but this number could rise over time as employers become more educated about the law's impact on their bottom line."

What the study also shows is:

• There is low familiarity overall with Health Care Reform among an estimated one-third of employers
• Familiarity is highest among larger employers, those currently offering benefits and those planning to drop or not offer coverage in 2014

"So far, familiarity with specific reform provisions is related to the implementation timeline and media focus," continued McIntyre.  

Provisions of the law that employers are most familiar with:

• The dependent child age extension
• Prohibition of exclusions based on pre-existing conditions
• The employer mandate itself
• The elimination of lifetime dollar maximums

"The opportunity for education outreach is high for health insurers, brokers and consultants as employers begin or continue to educate themselves on the various aspects of the law and consider their options," said McIntyre.  "Many employers are looking for hard numbers and solid advice on what impact Health Care Reform will have on their bottom line as well as on their employees."