Healthcare Reform and Company Culture
The United States Supreme Court has recently upheld the Patient Protection and Affordable Care Act (PPACA). Some people refer to this law as “Obamacare” while others call it “Healthcare Reform.” Regardless of how you label this, what your political ideology is, and how you feel about the merits of the law, one thing is for certain….this is one of the most sweeping and largest changes to our laws many of us have seen in our lifetime. This law also represents a good example of why corporate culture and business strategies that focus on people will be at a competitive advantage!
Beyond the compliance and taxing obligations of the law, there are financial considerations. As a business you MUST answer questions like:
–Should our business be subject to the “Cadillac” tax?”
–Should we get out of the medical insurance business altogether?
–If our plan is still “grandfathered” should we guard that status?
–Our highly compensated employees may be taxed more, does this impact us and how?
Your answers to these questions and the choices you make as business leaders WILL impact your talent management efforts?
If decisions affecting your employees are made in a vacuum and are not integrated with a broader talent strategy, your business will have a lower ceiling to its profitability. To learn more, please click on the title of this post.