Despite the uncertain future of the Affordable Care Act and pending replacement legislation, employers should continue finalizing their 2018 health and benefit offerings, contribution strategies, vendor terms, plan operations and employee communications, according to Mercer. The consulting firm hosted a recent webinar to share the top 10 issues for 2018.
“As employers begin to strategize for their 2018 benefit programs, it is important not to lose sight of new and ongoing compliance obligations and prepare to make any changes that may be necessary in employee benefit plan design and administration,” says Katharine Marshall, principal at Mercer. “Despite what may – or may not – come of ACA repeal and replace legislation, there are a number of compliance concerns that employers can count on sticking around – like HIPAA privacy and security requirements, mental health parity requirements and ERISA fiduciary duties, just to name a few.”
Employers and their advisers, Marshall adds, should keep these issues in focus because the consequences of sidelining them can be costly.