Part of President Trump’s recent executive order on healthcare that has received little attention is the expansion in the uses of employer-sponsored Health Reimbursement Accounts (HRA). The Affordable Care Act and subsequent regulations limited what companies could reimburse its employees for on a tax-advantaged basis. Now it looks like the administration could allow employers to provide funds for employees to purchase plans on the individual market. That would be a seismic shift in the way healthcare is provided by companies.
Many health insurance companies, benefits brokers, and insurance agents simply cannot keep up with (or choose not to deal with) all the changes in the marketplace given the current state of our politics. Business owners and human resources departments need business consultants, not traditional brokers when it comes to healthcare strategies. To look at employee benefits from a consultative view, subscribe to the BenefitTalk podcast at https://benefitcorp.com/podcasts/.