New York Employment Lawyers Work to Reduce the Confusion Surrounding Health Care Reform

Understanding the impact the Affordable Care Act has on your benefit options is imperative

The Affordable Care Act has long been a topic of discussion, both good and bad. However, you may view the legislation, it is important to understand how it will impact your health insurance coverage options, and your finances. At Hepworth, Gershbaum & Roth, PLLC, our New York employment lawyers are committed to helping you understand the impact health care reform may have on your health coverage and finances. By maintaining up-to-date knowledge of the Affordable Care Act, we offer helpful insight into recent changes and their potential impact on your coverage options.

How will the Act affect employers?

Businesses of all sizes are likely to feel the impact of the Affordable Care Act in years to come. The Act requires larger employers to offer affordable coverage options to employees. Smaller businesses may not face the same requirements, but may be offered incentives to provide coverage. In any case, the Act is likely to lead to changes in your coverage options.

Depending upon their size and preferences, your employer may:

• Eliminate or reduce benefits offerings: The Health Care Reform Act does not require small businesses to offer group insurance plans to employees, but does offer tax credits to those that do. If the available tax credits do not outweigh the costs of coverage, the business may reduce or eliminate its employer-funded coverage options.
   

• Encourage private coverage: While your employer may continue to offer group plans, you may be encouraged to purchase your own insurance. Many employers will likely offer monetary incentives to employees who purchase private coverage or take coverage under a spouse’s group plan. Businesses with fewer than 50 employees may also encourage staff to purchase coverage through the New York health insurance exchange small business section.
   

• Limit hiring: Some small businesses may experience an increase in the costs of health coverage options. This may lead to a reduction in hiring new employees or a focus on limiting salaries or wage increases for current and future employees.

Whatever action your employer takes, it is likely that your available health care benefits options will change in some way. It is important to keep up to date on changes in your benefits options, especially your health care coverage choices.

What can you do to protect your insurance coverage and wallet?

When considering the future of your health coverage, there are many steps you can take to limit the frustration you feel, including:

• Exploring your options: The Affordable Care Act creates new options for many individuals, making it important to explore all of your coverage choices. In some cases, it may be more affordable to obtain insurance outside of your employer-offered benefits package.
   

• Voicing your opinions: Many employers are careful to take their employee’s opinions into consideration when making changes to benefits packages. IF your employer offers the opportunity, be sure to voice your thoughts on insurance coverage options. It certainly cannot hurt to share your feelings, and your ideas may help your employer make decisions that benefit you and your co-workers.

By taking a proactive approach to your health insurance coverage, you may be able to put the Affordable Care Act to work for you.

Discuss your health insurance reform concerns with one of our New York employment law attorneys

The New York employment law attorneys at Hepworth, Gershbaum & Roth, PLLC take great pride in supporting employees throughout the state. Whether you have questions regarding your health insurance coverage options, or feel that your employer is not adhering to the regulations set forth by the Affordable Care Act, we can help. To schedule a free consultation with one of our New York employment law attorneys, contact us online or call 212-545-1199 today.