Education Goes Hand-in-Hand with Retention
Businesses need to inform their workers about health plan changes under the Patient Protection and Affordable Care Act. That's the word from Paul S. Amos, II, president of Aflac, Inc., a major health insurance provider.
Says Amos, "If you believe in your employees and want to retain them so can grow your company and corporate culture, it makes sense to educate them about how the act will affect their health benefits and premiums." He noted that the Aflac 2013 WorkForces Report, a nationwide survey of 1,900 employers and 5,300 employees, found that nearly four in five employees (79%) believe that effective communication about health plans would make them less likely to leave their current positions.
Unfortunately, most businesses have not yet educated their workers about PPACA. According to the survey, nearly three quarters of employees (72%) were unaware of consumer-driven health care plans, while 76% were not knowledgeable about health care exchanges.
What's more, only one in four employers (26%) said they fully understand the health care reform law.
Amos offers businesses this advice: "The reality is your workers need you and, if you don't educate them [about changes in health benefits plans], they're going to begin to think about going elsewhere. Rather than picking themselves up by their bootstraps and saying, 'I'm going to learn it myself,' they'll just go to another employer who will keep them informed."
As Employee Benefits specialists, we'd be happy to explain the PPACA health care plan reforms to your workers and help them make decisions about their benefits.