ACA Compliance Side Effect: Better informed business decisions – Part 3

ACA Compliance Side Effect: Better informed business decisions – Part 3

Third of a three-part series, click to access part one or part two

Building a gender equity strategy that works
Who knew that the Affordable Care Act’s compliance requirements could enable your organization to spot and rectify potential equity issues when it comes to health care coverage? As unlikely as that seems, aggregating your payroll, benefits administration and HRIS systems on a monthly basis – a task made necessary by the ACA’s reporting requirements – can reveal gender gaps and provide the data you need to resolve them.

For example, at Health e(fx), we’re able to analyze ACA-related data covering millions of lives at companies ranging from education and healthcare to hospitality, retail and manufacturing. Using this data, you can more easily benchmark salaries by gender and dive deeper to take a close look at job-to-job comparisons. You can also uncover new insights about benefits enrollment and adoption.

In reviewing 2017 data, we discovered that more male than female workers were eligible for ACA coverage: 78% of male employees were eligible, while only 71% of female employees qualified for benefits under the ACA Our data also shows that, once benefits are offered, the adoption rate is similar between genders. Do you know if this is also the case for your organization?

Why does it matter?
On a national front, gender and equity issues comprise hot topics for debate – ones that can lead to lawsuits, not to mention major hits to your brand, employee morale, and your engagement and retention strategies. By aggregating your ACA workforce data on a monthly basis, you can generate the information necessary to identify potential equity issues in your pay and benefits programs and can then work to resolve them.

Questions to ask:

  1. Do you know what percentage of your male and female workers are eligible for benefits coverage? Do you see noticeable gaps?
  2. Does your organization provide support to workers who don’t identify with traditional male or female genders? How are you accommodating their health care coverage needs?
  3. If you work with a broker or employee benefits representative, are they helping you build best practice strategies that will prevent equity issues when it comes to healthcare coverage for your workforce?

To find out more on how employee attributes like gender, part-time status and pay can impact employee benefit choices, download a free copy of the Health e(fx) 2018 Insights Report.

October 18, 2018