with the affordable care Act (aka Obamacare) is in full swing and the Cadillac tax on the horizon, employers make significant changes to their benefits to manage costs, increase participation and engagement, implementation cost-sharing strategies, and improve health. And, despite these changes benefit the majority of employers (56 per cent) plan in 2016 health spending increases. This is according to the benefits of the new Wells Fargo Insurance Employee Survey 2015 Trends.
The survey provides an overview of how employers of all sizes are looking at rising costs of healthcare and new healthcare reform requirements.
Cadillac tax, cost control and employee retention
The survey Wells Fargo Insurance, costs, productivity and 
maintaining current benefits are priorities for employers, with a focus on attracting and retaining employees. For small employers (fewer than 50 employees), retaining current employees was even more critical, with 94 percent saying it was a top priority.
Preparation of the next "Cadillac Tax" is also a major concern for most employers. The survey found:
- 52 percent of employers are concerned about the exposure of the Excise Tax Act (the "Cadillac tax") with their current plan design
- 58 percent of employers expect their medical plan. costs exceed the threshold for the excise tax in 2018.
in preparation for the Cadillac tax (now postponed to 2020), the first three changes employers planning:
- increased wellness initiatives to improve the health of the population (51 percent).
- Change in employee health savings account (HSA) contributions after tax (46 percent).
- reduction in the value of plan design (46 percent).
small employers should also make changes to benefit programs for employees due to the health reform, although their strategies seem a little different.
According to the survey, small employers control the costs of health benefits by :.
- reducing health coverage to essential minimum levels (30 percent)
- Moving employees to public exchanges when available (19 percent).
- elimination of the part-time employee or spousal coverage (14 percent each).
Conclusion
For the majority of employers in the United States, health care costs are rising. In anticipation of rising costs and the upcoming Cadillac tax, employers are not an attitude "wait and see". Instead, employers are proactive changes with cost control strategies and retention of employees in mind. Do you agree with the findings of the investigation? What are your health priorities this year, and what are you doing about it? Leave a comment or question below!
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