Government Regulations and Employee Benefits
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The solution addresses the impact that government regulations and legislation plays in matters of employee benefits. There are three references and over 400 words to explain government involvement in benefits can have both positive, and negative impacts; for employers taxed with providing benefits and employees as the recipients.
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Solution Summary
This solution is over 400 words and includes three references, addressing how government legislation and regulation impacts employee benefits. The solution utilizes Obamacare as an example of government mandated medical coverage and how both employees, and employers will be significantly impacted by this.
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Government regulations can significantly impact employee benefits - such as which benefits are mandatory for an employer to provide, along with legislation that may result in fines if employers do not comply with mandates, plus imposing requirements that often result in significant costs. In 2013, the "hot topic" in employee benefits was Obamacare. By 2015, employers with at least 50 full-time employees must provide health insurance coverage or face tax penalties (reference 1). Healthcare is expensive and one of the biggest "unknown" costs for employers as premiums can vary greatly from one year to the next, depending on the user group's experience rating. Some employers may pay a portion of premiums on behalf of their employees, or a large percentage. In a recent analysis (reference 2), ...
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