Baseball great Yogi Berra once said, “When you come to a fork in the road, take it.” Business leaders will encounter many forks in the road in the coming year, and Aflac has taken a look at some of the top benefits-related decisions they’ll face. Among them:
- Pay or play?
In 2016, employers with at least 50 full-time equivalent employees (FTEs) must offer affordable, minimum-value health coverage to at least 95 percent of their full-time employees and their dependents, or face a penalty. Employers will need to be certain they are providing coverage that meets the law’s requirements. For more information, see five things to know and do to guard against health care reform penalties and calculate your company’s FTEs with the FTE calculator.
2. Make voluntary insurance part of the benefits package?
Because of the steady upward climb in health care costs, shifting expenses to employees is becoming a significant concern. It’s no surprise that benefits option
s such as voluntary insurance are quickly becoming key components of comprehensive benefits packages. Just how critical will these options be? According to the Aflac WorkForces Report, nearly 9 in 10 employees (88 percent) at least somewhat agree they consider voluntary part of a comprehensive benefits package and 64 percent see a growing need for voluntary today compared to past years. To learn more, see “What is voluntary insurance and why do employees need it?”
To learn more about the remaining six questions your company may face – along with the solutions – keep reading.