If you’re an in-the-trenches HR pro, the Affordable Care Act has brought multiple emotions to bear: frustration, worry, and more. I know exactly how it feels, but I have also come to appreciate a particular side effect of the law.
The “good old days”
Five or ten years ago, the benefits administrator for a fully insured organization would receive a rate renewal notification from the insurance company with the new premiums for the coming plan year. In most cases, that rate was set in stone and the organization had to grin and bear it. We’ve been over the ACA health insurance premium increases before, but that’s not what we’re focusing on today.
I was speaking with a friend earlier this week about some changes his organization's leadership team is debating related to health insurance for employees. There was a time in the past where this type of internal discussion would have made me a little uncomfortable; however, with the implementation of the Affordable Care Act, it would be crazy not to spend some time talking about how the market is changing, what trends are evident, and how to develop a strategy for moving forward.
The single most important result of the ACA is this: perspectives are finally changing.