The Trump Administration’s promise to replace the Affordable Care Act (ACA) with something better, if successful, would lead to more pressure on smaller credit unions.
For everyone else, it means continued instability. OneDigital’s SVP of Regulatory Affairs and Reform Initiatives Annette Bechtold talks with CUtoday.info about the impact of rising healthcare costs on employers, insurance companies, the insured and uninsured. She cites the newly elected Congress, the current committee hearings and intentions to address the cost of prescription drugs in the article, “Pressure Could Be Greater for Smaller CUs.”
There is very little stability here. The steady increase in the cost of medical care and treatment continues. As costs rise, premiums rise. Employers, like the credit unions, continue to look for ways to still provide coverage at an affordable rate.
With the advent of an all-new Congress in January, all legislation had to start over. What’s universally known and understood is that costs are high and continuing to rise. They are becoming unsustainable for employers and employees. The big challenge is there is no consensus on how to fix it, even within a particular political party.
— Annette Bechtold, SVP of Regulatory Affairs and Reform Initiatives, OneDigital
To read the full article, click here.
Find out how the changing legislation impacts your business and determine how to implement a strategy to combat rising healthcare costs. Reach out to your OneDigital Consultant or visit OneDigital’s Compliance Confidence blog to learn more.