|
|
| Health Benefits US Newsletter |
|
| Exciting News for 2011 |
November 2010 |
|
Survey: 30% Of CFOs Plan To Reduce Employees' Health Benefits
CQ HealthBeat (11/2, Norman, subscription required) reports, "Nearly a third of corporate chief financial officers reported in a survey that they are planning on reducing healthcare benefits for employees, according to the consulting firm Grant Thornton International," although "21 percent also said they plan to spend more on healthcare benefits, an increase" of 15% "from a similar survey by the consulting firm six months ago." According to the survey of 508 chief financial officers, about "30 percent of the CFOs say their companies plan to decrease health benefits on average, [and] 49 percent say the benefits will remain the same." Notably, "in March 2010, before implementation of the health care law began, 29 percent of CFOs said their companies planned to reduce what they spent on benefits, and 66 percent said benefits would stay the same."
According to The Hill (11/2, Lillis) "Healthwatch" blog, pollsters also "found a large majority of companies (84 percent) consider employee benefits, including healthcare and pensions, their single greatest cost concern -- up from 68 percent six months earlier." The Wall Street Journal (11/2, Hobson, subscription required) "Health Blog" also covers the story.
|
|
|
Greetings!
This year's passing of Patient Protection and Affordability Care Act is causing all kinds of trouble! From employer groups to politicians who voted for the bill, to users of the insurance themselves, the choices are very difficult to sort through.
You might remember the talk that we gave about Defined Contribution Health Reimbursement Accounts (HRA's). With companies such as Walmart, John Deere, Verizon, AT&T and Ford implementing HRA strategies into their companies, shouldn't you revisit this for your company? HRA's can benefit any size company
We are here to evaluate your plan and provide a consultative second opinion or become your Broker of record by providing the right solution now. We are working with several companies and their current brokers to implement this increasingly popular strategy.
Reform happens when all become better INFORMED. There are solid fiscal solutions that allow all parties to benefit from having the right health care solution and it does not have to be a one size fits all plan to be equal.
Contact us today to find out how Health Benefits US can help craft a solution fit for your plan year.
There is still time to get it right for 2011!
|
|
In 2010, Employers Shifted More Healthcare Costs To Workers
McClatchy (9/3, Pugh) reports, "An annual survey released Thursday finds that workers are paying, on average, about $482 more for job-based family health insurance this year as companies force employees to shoulder more of the burden of healthcare costs." In fact, "employers' contributions to family coverage showed no increase at all in 2010, according to the Employer Health Benefits Survey by the Kaiser Family Foundation and the Health Research & Educational Trust." Adds McClatchy, "Drew Altman, the president and CEO of the Kaiser Family Foundation, said it was the first time he could remember employers moving so boldly to shift health costs to workers."
The Hill's Mike Lillis (9/3) reports that in addition, "health insurance costs for the nation's workers skyrocketed...even as the quality of many plans deteriorated." Adds Lillis, "Megan McHugh, research director at HRET, noted another 'troubling' trend: Very few employers are considering the quality of benefits when they choose their healthcare plans. Indeed, just 34 percent of large firms, and 5 percent of smaller companies, say they review performance indicators when selecting plans."
The Washington Post (9/3, Hilzenrath) reports, "Thirty percent of employers offering health benefits reported that this year, as a result of the economic downturn, they reduced the scope of benefits or increased cost-sharing -- the amounts employees pay for medical services in co-payments, deductibles and the like." The survey covered public and private employers with three or more workers and was conducted by phone from January through May.
The Los Angeles Times (9/3, Levey) reports, "Overall, premium growth slowed slightly this year to 3%, with the average annual cost of a family health plan reaching $13,770. Workers picked up 30% of that bill. The average plan for an individual cost $5,049." The Times adds that "the squeeze...could further complicate the Obama administration's efforts to rally support for the (new) law, which is expected to do relatively little in the short term to contain rising medical bills."
Similarly, the NPR (9/2, Rovner) "Shots" blog reported, "Employers' health insurance premiums haven't actually gone up very much for 2010." Bloomberg News (9/2, Armstrong) reports, "This year's survey didn't take in any of the effects of the healthcare law," and Nick Papas, spokesman for the White House Office of Health Reform, said, "The study only highlights the importance of implementing health reform."
|
View from a Healthcare Reform Specialist
During my more than 10 years in this business I have sat down with over 2500 customers or potential customers. My overwhelming conclusion is that people generally do not understand insurance options or how it all works and why. I do agree that there needs to be reform to some aspects of how insurers operate and provide benefits to you, but this bill is not the solution to solve the problem for us as Americans.
My goal is to provide the resources and information you need to make a genuinely informed decision on your healthcare options, and to do so with a spirit of everyone's best interest at heart.
|
|
|
We appreciate the opportunity to keep you informed regarding healthcare benefits. If you have any questions, or would like to discuss your business or personal coverage, please call me at your convenience.
Providing the right solution for each person
every time, whether it is a PPO plan or an HSA,
we have you covered. |
|
Sincerely,
Rob Ferguson
Health Benefits US |
|
|
|
|
|
Free
Quotes! | One more thing to think about: as long as we're saving you money on your health care package, you could take the savings and get additional protection that perhaps you've never been able to offer your employees before. Just think, instead of just basic health insurance, they could also have Gap coverage, disability, even dental and vision. Call today and ask how we can provide your employees with the best protection they have ever had.
|
|
|
|
