Do you know how the Patient Protection and Affordable Care Act, better known among the general public as Obamacare, will affect your company? The 2,700-page legal document comprises an extraordinary array of complex regulations that will have an impact not only on the costs but also the risks your company incurs when offering health insurance to employees.
Other regulations that require the attention of senior finance leaders include The Health Information Technology for Economic and Clinical Health Act (HITECH), which mandates the use of electronic health records, as well as the privacy regulations that are part of the Health Insurance Portability and Accountability Act (HIPAA). If you consider these regulations in the context of employer-sponsored group health plans, the risks of data breaches involving sensitive medical information about your employees could translate to significant liabilities for your company.
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