Election Outcomes and the Impact on Health Benefits for Skilled Nursing and Assisted Living Facilities

As we look ahead, recent election results could significantly shape the health benefits landscape for skilled nursing and assisted living facilities. With shifts in healthcare policy on the horizon, it’s important for facility owners and operators to understand how potential changes may affect their benefits strategies, their teams, and, ultimately, their operational success.

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Changes to the Affordable Care Act (ACA) and Health Reimbursement Arrangements

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Policy decisions around the ACA will impact how facilities can offer and structure health benefits. Under the current environment, facilities may leverage Individual Coverage Health Reimbursement Arrangements (ICHRAs), allowing employees to use employer funds to purchase their own health coverage. This model provides flexibility and can reduce administrative strain for employers while offering employees customizable healthcare options. For skilled nursing and assisted living facilities, this approach might be attractive, especially as flexible health options become a priority for recruiting and retaining talent.

Compass TBS is closely monitoring these ACA developments to help clients navigate new regulations, ensuring facilities maintain compliant, attractive benefits packages that meet their employees’ needs.

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Expansion of Group Health Plan Alternatives

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We may also see changes to alternatives like short-term health insurance and self-insured plans. These options allow facilities to explore cost-saving measures, particularly for low-risk groups that could benefit from more tailored coverage outside traditional fully insured plans. If regulations loosen on self-insured plans or stop-loss insurance with lower deductibles, facilities may have an opportunity to structure benefits that lower costs and offer employees more choice.

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These potential adjustments allow Compass TBS to partner with facilities seeking group plan alternatives, giving them flexible, budget-friendly options while maintaining compliance with changing laws.

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Pharmacy Benefit Management and Drug Pricing

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Drug pricing and pharmacy benefits are top of mind for any organization managing health benefits. Policy changes could lead to further negotiations on drug prices and new regulations affecting pharmacy benefit managers (PBMs). For facilities, these developments could result in reduced prescription costs, especially if legislation limits PBM practices that may restrict access to certain pharmacies or require employees to use specific mail-order services.

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Lowering prescription costs and improving access are essential for a stable, healthy workforce in caregiving industries. Compass TBS can assist facilities in evaluating these developments and ensuring their benefit plans support affordability and accessibility in prescription drug coverage.

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Health Savings Accounts (HSAs) and Flexible Spending Arrangements (FSAs)

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With shifts in Congressional priorities, HSAs and FSAs might see expanded support. These accounts are already valuable tools for employees in managing out-of-pocket costs, allowing them to set aside pre-tax income for healthcare expenses. Facilities that offer these options can attract employees by promoting proactive health management, especially in roles where every dollar saved matters.

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As a benefits partner, Compass TBS can help facilities maximize the potential of HSAs and FSAs, supporting both employee financial wellness and overall job satisfaction.

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Long-Term Care Support

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The Trump administration may bring renewed interest in long-term care support through potential tax credits for family caregivers or incentives for private long-term care insurance. Skilled nursing and assisted living facilities should monitor these developments, as they directly relate to the industry’s growth and workforce stability. Compass TBS is ready to advise on long-term care benefit structures, helping facilities offer comprehensive support that keeps staff engaged and reduces turnover.

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Navigating the Future with Confidence

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While many policy changes are still on the horizon, staying informed will allow skilled nursing and assisted living facilities to proactively adjust their benefits strategies, ensuring compliance and employee satisfaction. At Compass TBS, we’re committed to helping our clients navigate these changes with confidence, leveraging policy insights and benefits expertise to craft plans that align with both operational goals and the needs of a dedicated workforce.

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Stay Ahead of the Curve on Employee Benefits

Ready to learn more about how Compass TBS can help your facility stay compliant and competitive with evolving benefit strategies? Contact us today for a personalized consultation to explore benefit options that keep your workforce supported, engaged, and ready to deliver quality care.