Kokomo Tribune; Kokomo, Indiana

Business

October 20, 2013

Employers seek answers on health care law

Businesses should use 2014 to make decisions about ACA implementation.

It’s possible that “affordable” might not have been the best “A” word to use in the Affordable Care Act, a consultant told a roomful of human resources managers at a Wednesday morning breakfast.

“They should have used ‘accessible’ instead,” said Evan Gady of Hylant Group Inc. “I don’t necessarily think it’s a bad thing, but I just think there’s a lot of cost attached to it.”

Providing access to health insurance for 49 million uninsured Americans, including no more denials for pre-existing conditions, is going to be expensive.

How expensive, exactly, is one of the many, many things yet to be determined as the ACA and its accompanying 33,000 pages of rules begins to take shape.

The new law is extensive, to the point where employers are sending 12 pages of benefits explanation forms to employees just to comply with the specific format the ACA mandates, Gady said.

Most recently, many employers sent out notices to employees explaining their right to purchase health care insurance from one of the newly created exchanges, despite the fact a delay in implementation of employer mandates meant they weren’t required to.

Employers may have until 2015 to comply with several mandates from the Affordable Care Act, but they’d better spend 2014 getting ready, Gady said.

“The choice before employers is to manage costs today or pay higher premiums and fees for non-compliance,” he said.

Peformance-based health care, which rewards and punishes providers and employers depending on patient outcomes, is the reality of the new law.

There’s even a new branch of government created by the law, the Patient-Centered Outcomes Research Institute, which will be funded through fees on group health plans, Gady said.

Kathy Horton, human resources director for the city of Kokomo, said she’s estimating the city must pay about $100,000 in fees the first year of the program. Most of that money will go into a pool that will be used to narrow the gap in premiums between younger and older individuals.

Text Only | Photo Reprints
Business
  • Honda Tougher Compact Car [Duplicate] Honda bolsters Fit to boost crash resistance DETROIT (AP) — When the subcompact Fit failed a crash test, Honda went back to the drawing board. The tiny Fit, redesigned for the 2015 model year, initially flunked the Insurance Institute for Highway Safety's small overlap test, earning just a "Mar

    August 22, 2014 1 Photo

  • Financial Markets Wall Street-6 [Duplicate] Asian stocks higher after S&P 500 record close HONG KONG (AP) — Asian stocks inched higher on Friday after a record day on Wall Street powered by upbeat data that adds to evidence the world's biggest economy is gaining strength. Gains were tempered as investors awaited a key meeting of U.S. centr

    August 22, 2014 1 Photo

  • At Jackson Hole, central bankers eye varying goals WASHINGTON (AP) — The central bankers meeting this week at their annual conference in Jackson Hole, Wyoming, aren't exactly in sync. Many are taking steps that clash with the policies of others. The Federal Reserve is preparing to reduce its economic

    August 22, 2014

  • Apple Stock [Duplicate] Apple's stock bounces back to hit a new high SAN FRANCISCO (AP) — Apple's stock touched a new high Wednesday, reflecting investors' renewed faith in CEO Tim Cook's ability to outwit the competition and expand the technological hit factory built by the late Steve Jobs. The milestone represents

    August 20, 2014 1 Photo

  • Eriks MAIN Eriks Chevrolet celebrates after completing tornado recovery When Eriks Chevrolet vice presidents Karen Bellus and Tom Rethlake looked out across the property of their dealership directly after the Nov. 17 tornado, they saw a scene of absolute devastation. Over $1 million in damage was done to the facilities.

    August 13, 2014 2 Photos

  • EPA Weed Killer [Duplicate] Decision could boost use of popular weed killer WASHINGTON (AP) — Faced with tougher and more resistant weeds, corn and soybean farmers are anxiously awaiting government decisions on a new version of a popular herbicide — and on genetically modified seeds to grow crops designed to resist it. Criti

    August 13, 2014 1 Photo

  • Posh Salon earns Redken Elite status Posh Salon and Day Spa became just the fifth Indiana salon to achieve Redken Elite Salon status, it was announced this week. As part of the honor, the Posh styling team will travel in November to the Redken Exchange for a three-day, hands-on training

    August 10, 2014

  • Cures for ourills revealed Goober Goodenough is a long-time member of the Indiana General Assembly. You probably know the roadside signs he puts up before every election: “Goober is Goodenough for Indiana.”It has surprised me that Goober has not had a bigger role in the curren

    August 10, 2014

  • Cool summer sets expectations for a record harvest DES MOINES, Iowa (AP) — A mild summer across much of the nation's heartland has provided optimum growing conditions for the nation's corn and soybean crops. Pair that with high-yield seeds and other new farming technologies, and the U.S. is looking a

    August 8, 2014

  • Report: Indiana consumer rebounds from recession INDIANAPOLIS (AP) — A new report by the U.S. Commerce Department shows that consumer spending in Indiana has rebounded from the end of the Great Recession faster than the national average. The report released Thursday estimates state-by-state consume

    August 8, 2014

Latest news
Featured Ads
Only on our website
AP Video
Furry Roommates: Dorms Allowing Cats and Dogs Chase Rice Defends Bro-Country 'Jersey Shore Massacre' Pokes Fun at MTV Series Raw: Wash. Mudslides Close Roads, Trap Motorists DC's Godfather of Go-Go Honored Ukraine Calls Russian Convoy a 'direct Invasion' Girl Meets Her 'one in the World' Match Coal Gas Boom in China Holds Climate Risks Japan Landslide Rescuers Struggle in Heavy Rain Raw: Severe Floods, Fire Wrecks Indiana Homes Endangered Red Wolves Face Uncertain Future Raw: Russian Aid Convoy Arrives in Ukraine Okla. Policeman Accused of Sex Assaults on Duty Dominican Republic Bans Miley Cyrus Concert Raw: Israeli Air Strike in Gaza Raw: Bodies of MH17 Victims Arrive in Malaysia Attorney: Utah Eatery Had Other Chemical Burn
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries
Poll
Kelly Lafferty's video on Tom Miller