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HEALTH CARE
BENEFITS
Supplying Second Opinions
Some organizations are providing
employees with the option of getting a second opinion from
a company that specializes in them. Sometimes diagnoses
change and different treatments are offered—and employers
can save money.
Read more about second opinions.
Also:
Twists in the Road to True Consumer-Driven Health Care
A Prescription for Medical Leave
Melding Managed Care and Health Care Consumerism
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RETIREMENT
BENEFITS
Total Reward Statements Morph From Value-Add
to Call to Action
Employers increasingly are using
total reward statements to encourage employees to take advantage
of benefits the company offers. With the Internet’s ability
to communicate very current information to employees, total
reward statements have taken on a new meaning for most employers.
Read more about total reward statements.
Also:
Boeing Awards Taking Off in New Direction
Pay-for-Performance Plan Helps Shrink Bank’s Turnover
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COMMENTARY
Target-Date Funds: Handle With Care
Creating customized target-date portfolios
might give plan sponsors a cheaper and more flexible default
option than target-date mutual funds.
Read more about target-date funds. |
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NEWS AND EVENTS
Quick Takes
Higher Expense Means Less Productivity: Shifting pharmaceutical costs to
employees leads to increased disability and lost productivity,
according to a recently published three-year study conducted
the nonprofit Integrated Benefits Institute.
Click
here to read more.
The Costs of Labor: Childbirth
is the most costly and most common health expense for women
of reproductive age, but predicting—and saving for—out-of-pocket
costs for maternity care may be difficult for women in consumer-driven
health plans because of the costs of those plans.
Click
here to read more.
Business Roundtable Rallies for Health Care Coverage: The Business Roundtable, an employer group whose members provide health coverage for 35 million people, released its “principles for health care reform” in June.
Click
here to read more.
Socially Responsible Retirement: Employers are reacting to the growing trend of workers who want to put their money into socially responsible investments, according to a recent survey by Mercer Investment Consulting and the Social Investment Forum.
Click
here to read more.
Auto-Enroll, Roth 401(k)s Move Toward Mainstream:
In the future, automatic enrollment and Roth 401(k)s
will be considered the norm among features that
employers offer as part of their retirement plans.
Click
here to read more. |
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DISCUSSION
Self-Funded Medical Insurance
Posted in the
Benefits & Compensation Forum:
A reader writes: “We are looking for alternatives to fully
insured medical benefits. We are tired of double-digit premium
increases and are looking to save on costs without lowering
the level of benefits, or charging the [employees] to cover
part of the benefits. What can you tell me about your experiences
with self-funded or partially self-funded programs, or other
ways of achieving this objective? Thanks in advance.”
Join the discussion. |
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METRICS
RETIREMENT SPENDING: EXPECTATIONS VERSUS
REALITY
Pre-Retirement vs. Post-Retirement
Spending
| |
Workers (expected) |
Retirees (actual) |
| Much lower than before you retired |
20% |
20% |
| A little lower |
34 |
24 |
| About the same |
34 |
42 |
| A little higher |
8 |
7 |
| Much higher than
before you retired |
2 |
6 |
| Source:
Employee Benefit Research Institute and Mathew Greenwald
& Associates Inc., 2007 Retirement Confidence Survey |
BENEFITS (DIS)SATISFACTION
Percentage of employees reporting
satisfaction with their benefit plans, 2000-2006
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2000 |
2003 |
2006 |
| Overall satisfaction |
73% |
66% |
64% |
| Benefits administration |
66 |
62 |
58 |
| Health care benefits |
66 |
60 |
54 |
| Retirement benefits |
NA* |
56 |
42 |
| Time-off benefits |
77 |
74 |
74 |
| *Not available |
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| Note: Survey of more
than 1,200 employees. |
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| Source:
Sibson Consulting |
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