Retail and restaurant industry employers will likely drop theirhealth coverage plans or cut employee hours in reaction torequirements taking effect in 2014, according to a new Mercerstudy. Just under 50% of retail and hospitality employers say theywill have to make changes to accommodate the law, and 9% areplanning to drop their existing health plans. According toMcDonald's CFO Peter Bensen, the new law will cost each of thecompany's restaurants between $10,000 and $30,000 annually.
|Retail employers with 50 or more full-time workers may also cutemployee hours to duck the requirement that they offer qualifyingcoverage. More manufacturing employers, on the other hand, saidthey would expand their health coverage to meet newrequirements.
|For the full story.
|For more on health coverage, read Employees Favor Employer Health Plans (Even as Some Employers MayDump Them).
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