It’s no secret that manufacturers are at best uncertain about what the Affordable Care Act is going to do to their businesses. Countless delays in implementation, moving goalposts on requirements, and a continuing spike in health care costs have left manufacturers heads spinning.
In the latest segment of the webinar series titled, “ACA University,” the NAM and the Council for Affordable Health Care (CAHC) came together today to help offer a bit of clarity to what has been one of the haziest crystal balls in public policy history. They brought in experts from Ernst & Young to discuss the requirements of the ACA as well as the significant taxes and fees that come along with the health care law.
Over 150 people tuned in to hear NAM VP of Human Resources Policy Joe Trauger, NAM VP of Tax and Domestic Economic Policy Dorothy Coleman, CAHC President Joel White and Ernst & Young’s Anne Phelps and Sarah Egge offer their thoughts on what’s coming down the ACA pipeline.
They detailed the punitive, job killing taxes and fees that manufacturers are facing – including the medical device tax that has already cost 33,000 jobs and may end up eliminating 165,000 jobs from our economy. Additionally, manufacturers are looking at $3.3 billion in costs from the reinsurance fees – which punishes companies that provide their own insurance without any benefit under the program.
Manufacturers are leading business in providing health benefits to their employees, but the ACA is making it harder and harder to do so. In the end, there were are a great many answers provided by today’s webinar, but it’s clear that many more questions remain.