Only 31% of credit unions are ready to comply with the 2013 and 2014 requirements of the Patient Protection and Affordable Care Act of 2010, according to a survey by CUNA Mutual Group.
The survey also found that another 14% of CUs are prepared for 2013 ACA (otherwise known as Obamacare) requirements, said Brad Pricer, senior manager for employee benefits product management for CUNA Mutual in Madison, Wis.
However, 26% of CUs surveyed indicated either they were not prepared, were not planning to start preparations until after 2012 or have a timeline for beginning preparations to comply with ACA.
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