Shown: Percentage of respondents
Base: all respondents (669)
Benefit-related decisions affect virtually every facet of an organization’s operations.
Summary: Response to the law will demand attention from a range of executives.
Companies across industries recognize the importance of planning for the health care law. Because employer-sponsored health benefits in the US are interwoven with compensation, tax, legal and operations issues, benefit-related decisions affect virtually every facet of an organization’s operations.
In our survey, 84% of respondents reported that planning for the implementation of the health care law is important to the company, and 59% of respondents said they thought it was very important or critical.
We advise companies to take steps to address requirements of the health care law that are known currently and maintain flexibility to adjust their response plans as regulations are issued or changes to the law are enacted through subsequent legislation.
Because repeal of the law is highly unlikely while President Barack Obama is in office, we recommend that companies develop a strategy and take steps to prepare for the broader employer requirements of the law. Effective response plans will be adaptable to changes in the economy, shifts in workforce demographics, and regulatory and legislative modifications.
Response to the law will demand attention from a range of executives. Respondents know that the law will have implications beyond human resources (HR) and employee benefits, and company leaders are working to come to terms with the ways the law will influence strategic, operational, compliance and financial decision-making.
Reflecting this awareness:
- 87% of respondents said the CFO at their company will be involved in the reaction to the law
- 79% of respondents said the CEO of their organization will be involved in the implementation of the law at their company