The Affordable Care Act (ACA) - otherwise known as Obamacare - may go the way of Medicaid and Medicare. By that, I mean to say the law may simply become an entrenched part of the U.S. healthcare system that has its critics but isn't a major topic of discussion.
Businesses, the media and many Americans may have rumbled about Obamacare and even made it a priority of recent election cycles; however, those concerns may be receding. The majority of private U.S. companies are in compliance with Obamacare even though some requirements have been delayed until 2015, global consultancy PwC reported in July Trendsetter report. Meanwhile, Obamacare's impact on company decision making may be minimal.
Just 3% of companies expect to drop healthcare coverage as a result of Obamacare, PwC said in July. Ken Esch, who led the Trendsetter report, said in a telephone interview Wednesday that companies may have found their employee plans required little change as Obamacare was implemented. Meanwhile, a recovering labor market may have meant employers decided against changes to their healthcare plans, fearing a loss of talent to competitors.
Signups for Obamacare surpassed 8 million, the government reported earlier in May. Meanwhile, threats to the policy like a bad age mix of signups or payment defaults, don't appear to have been borne out.
By year-end, Obamacare may simply become a part of the way America does business.