As is often the case, Biden said it best: Today is, indeed, a big f&$#ing deal. Today, President Obama has put his stamp on the $940-billion health care legislation that's been cluttering headlines for the past six months. There's no question that this new bill will affect the job market in several ways, not least of which in the insurance pharmaceutical industries, and for those seeking a more entrepreneurial bent. It will also make some waves in the consulting industry, not only in firms immersed in the health care field, but also for those doling out benefits, like HR consultancies Towers Watson, Hay Group and Hewitt Associates.
And they're already on top of it. Helping companies navigate the new waters of employee health benefits packages, Towers Watson has released a nitty-gritty summary of factors that will inevitably affect the policies of employers, from now through 2018. Hewitt Associates is on the ball, as well, prominently featuring its own health care reform cheat sheet, while Aon Consulting hopes to offer a different spin through its annual benefits survey to help companies benchmark their benefits strategies against peer firms.
While the new health care bill guarantees coverage for a broader swath of Americans, it also ensures a steady flow of work for those in the HR consulting business, as employers have to deal with both the immediate and long-term implications of the plan.
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