Armstrong Quoted On The Impact Of The Patient Protection And Affordable Care Act On BusinessIndustryWeek April 5, 2010
Mark Armstrong, a Member of the Firm in the Health Care and Life Sciences practice of Epstein Becker Green Wickliff & Hall in Houston, was quoted about the likely impact on businesses of the Patient Protection and Affordable Care Act, signed by president Obama in late March.
The article, "Companies See Burden in Health Reform," stated that the law seeks to provide insurance for 32 million Americans by expanding Medicaid and establishing new federal health insurance premium subsidies.
Armstrong said that the law "is going to have a significant impact" on benefits that companies provide to employees and retirees. Many companies will re-evaluate health care benefits to adjust for the influx of new enrollees. "A lot of companies may diminish or eliminate some of the additional retiree benefits just because of the cost associated with it," he said.
Armstrong added that unions and management will also likely re-evaluate how they negotiate health care and compensation. "There will be a balancing act in a way we haven't seen before."