2012 elections signal historic change for workplace benefits
The results of the November election will dramatically affect major employee benefits issues, most notably health care. No matter who wins the White House, the makeup of Congress after the elections could also significantly influence how employers manage their workplace benefits. Chantel Sheaks, a principal in government relations with Buck Consultants, outlines how the most likely scenarios could determine benefits strategy for plan sponsors.
President Romney/Democratic majority in the Senate/Republican majority in the House
In this somewhat deadlocked scenario, it is likely nothing will move with the new health care law. Since the Patient Protection and Affordable Care Act is very skeletal and leaves agencies to fill the holes in the law, President Romney could push out regulations so slowly that the law is rendered virtually ineffective. Regardless of the policy decision itself, this will create a state of flux, continuing the uncertainty most businesses want to see cleared up.
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