Benefit Trends: How to Cut Costs While Improving Employee Health in a Tough Economy
By Chrystine M. Heier, CEBS, LIA
Co-Founder and Principal, Sullivan Benefits |
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As many employers are gearing up for the 2010 Open Enrollment season, most are doing so with an eye towards maintaining or reducing rising benefits costs, particularly health care costs. This is the time to thoroughly review your programs to make sure you are doing all you can to spend your company benefits dollars wisely, and creatively scrutinizing areas where savings can be recognized. An uncertain economy and rising health care costs are forcing employers to make changes in their programs at Open Enrollment:
- Cost Shifting to Employees via increased per paycheck contributions, higher copayments, deductibles and out of pocket maximums. This is usually an employers' first assault on cost increases and those hit hardest by the recession are shifting greater shares of health care costs to their employees out of necessity.
- Eliminating Generous Health Plan Options to move employees into lower cost options such as High Deductible Health Plans which require employees to consider cost each time they seek health care services. Often, employers introduce health reimbursement arrangements (HRAs) or health savings accounts (HSAs) to help fund a portion of the High Deductible. READ MORE.
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Steps to Implementing a Successful Corporate Wellness Progam
By Nan Maley, R.N.
Corporate Wellness Director, Sullivan Benefits
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Corporate Health Promotion and Wellness programs work to;
- Improve employee health,
- Contain health care costs, and
- Increase productivity and retention of healthy employees.
At Sullivan Benefits, we are committed to and believe in Wellness and Health Promotion. We offer Employee Wellness Program step-by-step implementation assistance for organizations of all sizes.
Have you thought about implementing a corporate Wellness Program, but you are not sure how, when, and where to start? You are not alone. Many small to mid-size organizations are looking for a step-by-step process. We suggest the following strategic approach to offering a Successful Wellness Program. READ MORE. |
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