Magazine article HRMagazine

Health Care Costs Remain CFOs' Top Concern

Magazine article HRMagazine

Health Care Costs Remain CFOs' Top Concern

Article excerpt

For the third year in a row, chief financial officers (CFOs) in the U.S. cited rising health care costs as their No. 1 concern, according to the Bank of America Merrill Lynch 2014 CFO Outlook survey report.

Sixty-seven percent of CFOs ranked health care's impact on labor costs as a significant concern, up from 62 percent in 2012. Leaders also were worried about the effectiveness of the U.S. government (62 percent) and the U.S. budget deficit (57 percent). All three issues were the top concerns of CFOs a year ago, as well.

Nearly three-fourths of CFOs, surveyed in the fall of 2013, said their company is completely or mostly ready to comply with the rules and regulations of the Affordable Care Act (ACA), with 28 percent claiming that their organization is completely ready and 46 percent, mostly ready. More than 750 financial executives randomly selected from U.S. companies with annual revenues of between $25 million and $2 billion participated in the survey. …

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