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updated: 11/20/2013 10:04 AM

Businesses hear about cost of new health care law

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  • Michael R. Engelhardt, senior benefits adviser with GCG Financial in Oak Brook, discussed the federal health care law Tuesday.

       Michael R. Engelhardt, senior benefits adviser with GCG Financial in Oak Brook, discussed the federal health care law Tuesday.
    Daniel White | Staff Photographer

 
Daily Herald Staff Report

About 35 business executives gathered Tuesday in Naperville to learn more about the costs, practices and strategies involving the federal health care law.

Michael R. Engelhardt, senior benefits adviser of GCG Financial Inc. in Oak Brook, said business owners need to overcome the confusion about the new law and learn how it will affect their businesses over the next couple of years.

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While Engelhardt briefly provided an overview of the law, he also discussed procedures that could help businesses comply with new requirements in 2014 and said the new law actually could create some opportunities for employers to reduce health care costs with wellness incentives and programs.

The event was hosted by the University of Illinois Business Innovation Services, a Naperville-based association with more than 1,200 manufacturers and other business members from around the suburbs.

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