What Employers Need to Know about Changes to Obamacare

Employment expert weighs in with open enrollment approaching

Untitled-1Open enrollment season for Obamacare is about to begin, and there is much the nation needs to know in order to be prepared. There are many changes on the horizon, and most of them are not good.

Rob Wilson, employment expert and President of Employco USA says, “Premiums are set to rise by about 25 percent. On top of that, many Americans will only have one insurance company to pick from as many companies have been forced to shutter their doors. Lack of competition means that insurance companies have a stranglehold over their consumers.”

Wilson says that there are ways to avoid incurring high costs during open enrollment season. He advises employers to consider the following:

  1. Work with an HR-solutions company such as Employco USA to aggregate employees and broker a new small group plan. Doing so will simplify your paperwork and also lower costs.
  2. Trim offerings. Wilson says, “It’s hard to give up things like dental plans but ultimately, the most important thing is to make sure that your company stays afloat and your workers stay employed.”
  3. If you have under 50 employees, Wilson suggests that you raise salaries and allow employees to purchase their own healthcare plan. “This is not only a cost-saving measure, but it is forward-thinking. We don’t know what healthcare plans in this country are going to look like in the coming future, but well-paid employees will be able to pay for their medical needs regardless of what occurs.”

For more on this topic, please contact Rob Wilson at rwilson@thewilsoncompanies.com.