Navigation Links
SouthWest Benefits Association Survey Finds Employers Continue to Focus on Health and Wellness during Economic Downturn
Date:6/23/2009

Research indicates health of employees is priority; efforts to reduce costs include dependent eligibility audits

DALLAS, June 23 /PRNewswire/ -- Today the SouthWest Benefits Association, a regional, non-profit established to foster relationships and support the educational growth of professionals in employee benefits, released the results of its employer survey regarding benefits plans in light of current economic challenges.

"The responses indicate that as employers develop benefit plans for 2010 they are looking for ways to reduce benefit costs, without further reducing benefits," said Marianne Fazen, executive director of the SouthWest Benefits Association (SWBA). "Surprisingly, many responded that they plan to increase their wellness programs."

Key Survey Findings

  • Thirty-five percent of employers responded that they plan to increase their wellness programs.
  • Companies are concerned/very concerned that limited merit budget/bonus pools (68 percent) and limited benefits budgets (53 percent) will be two of the largest issues that human resources will face compared to last year.
  • To weather the economic downturn, almost half of respondents (48 percent) are auditing or planning to audit their employees' dependent eligibility in order to reduce covered lives; 41 percent are increasing or planning to increase employee cost sharing; while over one-third (35 percent) have reduced or are planning to reduce staff.
  • The employers' view of their workers' response to the economic downturn indicates that they believe 89 percent will delay retirement, 83 percent are concerned about job security and 42 percent are impacted by low morale.

SWBA's survey was facilitated by Buck Consultants and was submitted electronically to SWBA's employer members.

"Reflecting the reality of the times and the need for more stringent cost, expense, and plan management, employers are more aggressively implementing cost-reduction actions aimed at uncovering hidden costs, such as dependent eligibility audits," said Jorge Font, MPH, a principal with Buck Consultants in Houston and past president of SWBA. "At the same time, employers indicate they want to continue to increase their investment in health improvement and wellness programs, while trying to avoid other benefit cuts or cost shifting through disproportionate increases in monthly premium, co-pays, and deductibles. It appears companies wish to maintain benefits for employees that are staying and being asked to work harder."

ABOUT SWBA

Founded in 1975, the SouthWest Benefits Association is a regional, non-profit organization designed to foster relationships and support the educational growth of professionals in employee benefits. Members represent a wide range of specialties, including corporate human resources, benefit plan administration, financial management, investment counseling, third party administration, law, accounting, actuarial, and consulting. Through an annual schedule of professional educational conferences and workshops, SWBA provides its members the opportunity for discussion of a wide range of issues confronting professionals in the complex and increasingly regulated field of employee benefits. www.swba.org

Note to editors: The full report is available upon request.


'/>"/>
SOURCE SouthWest Benefits Association
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Former Gov. Bill Clements Makes Historic Gift to UT Southwestern With $100 Million Transformative Contribution
2. Health-care issues lead latest Arizona State University-Southwest Poll
3. PHOENIX-AHF/Magic Johnson HIV Testing Caravan & Southwest Center for HIV/AIDS to Host Free HIV Testing Event at Off Chute Too
4. UT Southwesterns Olson wins prestigious French award for heart research
5. Southwest General Health Center Selects Allscripts Web-Hosted Electronic Health Record
6. Participants in antidepressant drug trials are atypical patients, UT Southwestern researchers report
7. HBO, the Arizona Alzheimers Consortium and the Alzheimers Association, Desert Southwest Chapter Present a Free Advance Screening of THE ALZHEIMERS PROJECT: Momentum In Science
8. TrinityCare Senior Living to Present at Southwest Investment Association Conference on April 25, 2009
9. UT Southwestern University Hospital earns outstanding achievement award for cancer care
10. Pennsylvania State Department of Health and Allegheny County Health Department Confirm Four Cases of Measles in Southwest Region
11. UT Southwestern researchers reveal how the brain processes important information
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... ... Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, PharmD ’17, ... guideline updates for the primary prevention of cardiovascular diseases during the 15th ...
(Date:10/13/2017)... ... October 13, 2017 , ... The Visiting Nurse Association (VNA) ... a collection of specialty vendors and unique items from across the nation, this holiday-themed ... and wellness services offered by the VNA. The boutique will be open Saturday, ...
(Date:10/13/2017)... ... October 13, 2017 , ... Talented host, actor Rob ... sciatica in a new episode of "Success Files," which is an award-winning educational ... and investigates each subject in-depth with passion and integrity. , Sciatica occurs when ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), ... will showcase a range of technology and learning solutions at the 68th Annual ... Expo to be held October 14–18, 2017 at the Mandalay Bay Resort in ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... IsoComforter, Inc. ... products, announced today the introduction of an innovative new design of the shoulder pad. ... so you get maximum comfort while controlling your pain while using cold therapy. By ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... FLINT, Mich. , Oct. 2, 2017 ... acquired 8th Day Software and Consulting, LLC , ... 8th Day Software, based in Tennessee ... Management LLC. 8th Day expands EnvoyHealth,s service offerings for ... product development. "In ...
(Date:10/2/2017)... 2, 2017 The Rebound mobile app is poised ... reverse the tide of prescription drug addiction. The app empowers ... intake and stepping down their dosage in a safe, controlled ... December 2017; the first 100,000 people to sign up will ... http://www.rebound-solution.com/ ...
(Date:9/27/2017)... and NEW YORK , Sept. 27, 2017  DarioHealth ... and big data solutions, today announced that its MyDario product is expected ... local TV listings for when The Dr. Oz Show airs in your ... The nine-time Emmy ... ...
Breaking Medicine Technology: