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MEMO---Affordable Care ACT - Assignment Example

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After giving due consideration to the situation of the company, we find it important to extend the Health insurance to the part-time employees of the company. This act, if…
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MEMO---Affordable Care ACT
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Memorandum President Xi Executive Team Leader Haoran Wang 3/15 Ref: Extending Health Insurance to Part-Time Employees
We the executive team have assessed the viability of the Affordable Care Act, which is a proposed law. After giving due consideration to the situation of the company, we find it important to extend the Health insurance to the part-time employees of the company. This act, if applied in the company, will benefit the part-time employees as well as the company as a whole. It is important to note that the part-time employees have contributed positively to the welfare of this company and in return, the company should consider this proposal.
Importance of the Part-Time Staff
The company has experienced growth for the past decade and it continues to grow day by day. The growth is facilitated by the company staff, the full-time employees and the part-time employees. The company already has a health insurance cover for the full-time employees. The cover has reduced recurrent expenditure on hospital bills and also improved the welfare of the full-time employees (Sommers et al, 2013). We believe that, if the health package is extended to the part-time staff, it will greatly improve their welfare and attitude towards the company.
Currently, part-time employees represent 20% of the total company employees. In addition, the number increases to 30% of the total workforce when there is a huge workload. Due to the unpredictable patterns of the economy, the company is forced to recruit an additional team to aid in delivering various important tasks. Therefore, when the health insurance cover under the Affordable health care is adopted on board, the company will also benefit.
Company Size
The company has experienced tremendous growth for the last ten years. The number of employees is expected to double within the next year to approximately 300 employees including the part-time employees. It is a requirement to have health insurance for all employees of registered companies. This is in line with the Affordable Care Act, which becomes effective soon. As part of the company’s core values, it is important to comply with national laws to ensure the continued success of the company. Complying with the new mandate will see the company increase in size and increase the annual turnover, in the long run (Huntington et al, 2011).
Effects on the Cost
Though the Affordable health care will increase the company costs, it will have a variety of benefits. A health insurance cover for the part-time employees will help reduce absenteeism due to sickness. Absenteeism impacts the company negatively, and it is an additional cost to the company. Where several part-time employees are absent, the company will be forced to hire additional staff to fill in for the absent staff. It is an extra overhead cost to the company since the sick employees will be paid (Huntington et al, 2011).
Furthermore, the company may incur huge legal expenses where the welfare of all employees is not taken into account. The law requires fair treatment of all employees irrespective of tenure of employment. A health insurance for the part-time employees will also boost their morale, and they will dedicate their time for the growth of the company (Corlette et al,2013).
We the executive team of the company highly recommend the health insurance for the part time employees. It will be a fair approach to all employees taking into account their importance to their continued success of the company. We hope you consider this proposal Thank you.
References
Corlette , S, K Lucia and M Levin. "Implementing the Affordable Care Act: choosing an essential health benefits benchmark plan." (2013): 14.
Huntington, W, et al. "Patient Protection and Afffordable Care Act: Reforming the health care reform for the new decade." Pain Physician (2011): 51.
Sommers, D, T Buchmueller and T Decker . "Affordable Care Act has led to significant gains in health insurance and access to care for young adults ." Health Affairs (2013): 165-174. Read More
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