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Health Care Reform: ACA & Finance Executives

Health Care Reform: ACA & Finance Executives

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Health Care Reform - One More Issue for the Finance Executive to Juggle

From controlling costs to ensuring compliance, are finance executives prepared to address the requirements of the Affordable Care Act (ACA)? When nearly half of those at larger companies admit they don't fully understand the employer responsibilities under the new law, it sounds like the answer is "no." But with ACA having enterprise-wide ramifications, this could be finance's time to shine.

The C-suite. Shareholders. Board members. Finance executives are used to the pressure of being accountable to multiple stakeholders — and making it look easy to keep multiple balls in the air. But toss in the looming requirements of the Affordable Care Act (ACA) and that juggling act just got a lot tougher.

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    Health Care Reform: ACA & Finance Executives Health Care Reform: ACA & Finance Executives Infographic Transcript

    • One More Issue for the Finance Executive to Juggle Health Care Reform The C-suite. Shareholders. Board members. Finance executives are used to the pressure of being accountable to multiple stakeholders — and making it look easy to keep multiple balls in the air. But toss in the looming requirements of the Affordable Care Act (ACA) and that juggling act just got a lot tougher. Source: Employee Benefits Study Among Finance Professionals, ADP Research Institute, March 2013. Company size was defined by employee count: small 1-49, midsized 50-999 and large 1,000 + The ADP logo, ADP and ADP Research Institute are registered trademarks of ADP, Inc. All other trademarks and service marks are the property of their respective owners. ADP is not in the business of rendering legal services. If legal advice is required, the service of an attorney should be sought. Copyright © 2013 ADP, Inc. HR. Payroll. Benefits. For more information: adp.com/health-care-reform Employers see Shared Responsibility as having an impact: Less than 4 in10 small and midsized companies have a plan to control the cost of providing health benefits. of large-company finance executives aren’t fully confident they understand the employer responsibilities mandated by the ACA. MIDSIZED 40 SMALL 28 % % MIDSIZED LARGE 48% 60% 49% The ADP Research Institute®, a specialized group within ADP, provides insights to leaders in both the private and public sectors concerning issues in human capital management, employment trends and workforce strategy. More than half of all finance executives anticipate that public Exchanges will impact their company. SMALL 51% MIDSIZED 60% LARGE 69% ADP.com/Research There’s no doubt that Health Care Reform is an enterprise-wide issue, with wide-ranging impacts on HR, audit, tax and other operational areas. That’s why forward-looking finance executives hear ACA and think “opportunity.” Not only to help control costs and ensure compliance, but for the chance to take a leadership role in shaping, retaining and motivating a productive workforce. Where to start? Tools like integrated Human Capital Management (HCM) can lay the foundation for strategic success — and give finance executives the data they need to impress stakeholders all over again.