How Successful Companies Manage Health-Care Benefits
Companies with lower-than-average health-cost increases don't make incremental changes that do things to employees. Instead, they make changes with employees.
By Shari Caudron Comments 0 | Recommend 0
atson Wyatt, a global HR consultancy, recently took a look at companies that
have lower-than-average health-cost increases and are meeting or exceeding
company financial expectations. The research discovered that companies that are
likely to see lower-than-average health-cost increases are those that run their
health-care programs like a business. More specifically, successful companies:
More directly manage their health-care supply chain.
Emphasize employee productivity and overall health as key goals of
their health-care program.
Have longer health-care strategy planning cycles.
Include employee self-service features in their health-care program.
Empower employees to take responsibility for health benefits.
Provide employees with self-care information and decision support.
Use data in health-care decision-making.
Make use of the Internet to administer benefits and distribute
health-care information.
Are less likely to consider reducing or eliminating coverage.
Perhaps most important, the Watson Wyatt research also discovered that
companies with lower-than-average health-cost increases don’t make incremental
changes that do things to employees. Instead, they make changes with employee
input.
Shari Caudron is a contributor to Workforce Management and author of
What Really Happened, a collection of stories about the lessons life
teaches you when you least expect it. Her Web site is www.sharicaudron.com. To comment on
Workforce Management articles, e-mail editors@workforce.com
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atson Wyatt, a global HR consultancy, recently took a look at companies that
have lower-than-average health-cost increases and are meeting or exceeding
company financial expectations. The research discovered that companies that are
likely to see lower-than-average health-cost increases are those that run their
health-care programs like a business. More specifically, successful companies:
