CFOs may not be aware of the looming ACA compliance costs.
Since the Affordable Care Act (ACA) the CHRO has had to bear the brunt of the impact from the law. Now, it’s the CFO’s turn. The emphasis is shifting from offering and overseeing the administration of new benefit plans to ensuring that plans are administered in a way that avoids financial risk and embraces financial opportunity. This requires a clear understanding of ACA requirements and their financial implications, including the potential for financial penalties and the opportunity for health care cost reduction. It also requires an understanding of the technologies and tools available to help in the process. This paper provides information relating to both the law’s requirements and the means to meet them.
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