With major portions of the Patient Protection and Affordable Care Act just months away from taking effect, most large employers are not looking to circumvent coverage extension by reducing full-time workers' hours.
That's the conclusion of a just-released study by Towers Watson & Co. The firm surveyed 113 companies with more than 1,000 employees — 98 percent of whom said they are not planning to try to alter the status of full-time employers to go below the extended coverage trigger point of 30 hours a week.
Companies that don't offer health coverage to full-timers risk paying penalties of up to $2,000 per full-time worker who isn't covered. One strategy that has surfaced to defeat Obamacare's campaign to cover more workers is to reduce the hours of full-time employees below 30 hours a week. But large employers are apparently loathe to do so, the Towers Watson report revealed.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.