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Benefits June 18, 2012
Companies Not Confident in Understanding ACA Requirements
June 18, 2012 (PLANSPONSOR.com) - Just 40% of HR decision makers from large organizations are very confident about their understanding of employer requirements under the Affordable Care Act (ACA), according to an ADP Research Institute survey.
Reported by Rebecca Moore
Even fewer respondents in small companies (20%) and mid-sized companies (17%) expressed that same level of confidence.
A majority of human resource and benefits decision makers at small and mid-sized companies (67% and 62%, respectively) indicated they are unaware of the upcoming employee notification requirement about public exchanges. Thirty-two percent of survey respondents from large organizations indicated a similar lack of awareness.
As for being ready to provide the newly required summary of benefits and coverage, 66% of large companies, 50% of mid-sized companies and 31% of small businesses say they are prepared.
ADP recently surveyed more than 800 human resource and benefits decision makers in U.S. organizations of all sizes.
Full results of the survey are here.