That’s the question CHROs have been asking themselves since President Obama signed the ACA into law in March 2010.
The University of South Carolina Darla Moore School of Business recently asked that question of CHROs, in its annual HR@Moore Survey of Chief HR Officers.
Distributed to more than 560 chief HR officers at Fortune 500 firms as well as members of the HR Policy Association, this year’s poll asked these HR leaders to specify the actions they’ve already taken, or plan to take over the next 12 months, as a direct response to the Affordable Care Act.
The answers of the 200-plus respondents indicate that most companies are responding by pushing costs and responsibility on to employees. For example:
- 73 percent of respondents said they have moved or will move employees to consumer-directed health plans.
- 71 percent said they have raised or will raise employee contributions toward health insurance.
- 30 percent of organizations have moved or will move their pre-65 retirees to ACA exchanges.
- 27 percent have either cut back the coverage eligibility of employees’ spouses and dependents or plan to do so.
- 23 percent have or will more rigorously ensure that part-time employees work fewer than 30 hours per week.
The study, which the University described as a “definitive look at how medium- and large-sized firms have been affected by the changes to the health insurance and healthcare system,” could serve as a “valuable benchmarking tool” for CHROs weighing their organizations’ options in terms of mitigating ACA-related costs, says Patrick Wright, a professor of strategic human resource management at the Darla Moore School of Business, and director of the school’s annual CHRO survey.
“Up to now there has been only speculation as to [the Affordable Care Act’s] impact on business and workers,” says Wright, in a statement. “This survey provides the facts about that impact and specifics on changes to employment practices as a result.”Twitter It!