Health Care Reform: An Opportunity You Might Be Missing

For the FirstPerson team, September to January represent “the busy season.” This year’s “busy season” has taken on a new level of complexity due to the PPACA, more commonly known as Health Care Reform (HCR), which was passed in March 2010. As we know, the new legislation has demanded additional review, thorough analysis, and tough decisions. So, it isn’t surprising that many employers feel frustrated and confused, as a result.

As an advisor, I have felt the frustration right alongside many of my clients; but more recently, I began to wonder – could we view health care reform as an opportunity rather than a challenge?

After some consideration, I came to the conclusion that health care reform is absolutely an opportunity for many employers. Specifically, it’s an opportunity to think more strategically about benefit strategy and its impact on the most important business resource – human capital.

Over the past few months, conversations with clients have undoubtedly revolved around long-term strategy – and in a more meaningful way than in the past. I attribute that, in part, to the pressure brought on by the demands of HCR. The reform crisis is forcing us all to slow down and think more strategically – an opportunity we may not have had otherwise.

Employers that are embracing this opportunity are evolving from basic benefit plan design to an overall health strategy. I applaud those employers who have taken this initial step, and I encourage those who have not to use this opportunity to slow down, think strategically, and make decisions for the long-term.

If you would like to move your business to the next level by implementing a health strategy, contact Paul Ashley at pashley@firstpersonadvisors.com, or (317)218-1518.