ANAHEIM, Calif. Credit unions are searching for answers on how to deal with the many requirements related to the Affordable Care Act, based on the full house that showed up for a breakout session Tuesday afternoon at the CUNA HR/TD Council Conference here.
Although the healthcare reform law was signed in March 2010, many credit unions have delayed preparations, according to Brad Pricer, senior manager, employee benefits for CUNA Mutual Group. Pricer said many businesses wanted to see if the General Election results last November might bring changes given the fact Republican nominee Mitt Romney vowed to overturn “Obamacare.” But the president’s re-election, plus a recent Supreme Court ruling, means several ACA requirements are in place in 2013, with many more coming in 2014, he said.
“Employers were waiting to see if the Act would survive,” Pricer told conference attendees. “If credit unions have not been preparing, it is time to act. There are ACA changes already in effect that will remain in effect, and more provisions will continue to be implemented.”
Only 31% of CUs queried by CUNA’s 2012-2013 Credit Union Staff Survey for Human Resources Planning study said they are fully prepared for compliance, Pricer said.
Pricer said CUs may visit
