Sponsored by Northern Illinois Health Plan |
July 2009 Issue |
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E to E provides information from a business perspective that will educate regional employers about significant healthcare issues to help them make decisions benefiting their organizations and employees. | ||
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ContentsCost sharing favored by many employees Employee appreciation and loyalty influence benefits cutbacks Healthy Families Act aims to expand paid sick leave |
At Northern Illinois Health Plan, we constantly monitor issues that impact our employers and their respective workforces. This month we are reporting on several topics that could affect you. A reminder that NIHP is here to discuss and help you create a healthcare benefits plan that fits your organization. Contact us with any questions. Cost sharing favored by many employeesThe Employee Benefit Research Institute’s latest survey shows that many employees actually support lower-cost sharing principles. Participation in a wellness program is especially seen as positive, with 58% of those surveyed supporting lower-cost sharing for patients who actively participate in such a program to improve or maintain their health. Forty percent feel the same way about patients who use scientifically proven treatments for their medical condition. Further Reading:
Employers Favor Cost-Sharing Carrots
McGraw Wentworth Mid-Market Group Benefits Survey Shows Health Care Costs Increasing at 6-Year Low of 5%
SouthWest Benefits Association Survey Finds Employers Continue to Focus on Health and Wellness during Economic Downturn Employee appreciation and loyalty influence benefits cutbacksNo matter what, no matter when, employee benefits are important tools that influence loyalty, recruiting, and retention goals. During an economic downturn, they may be even more significant. This strong correlation is demonstrated by MetLife’s 7th Annual Study of Employee Benefits Trends. More than half of the employee respondents (56%) say they have a greater appreciation of their workplace benefits as a result of the difficult economy. It also shows that less than 15% of employers plan to reduce benefits significantly during 2009, and most of those who are considering action are focusing on 401(k) matches. Other studies show an even lower percentage. Further Reading:
Build Employee Loyalty with Alternative HR Benefits
Building Company Loyalty With Unusual Benefits
MetLife Trends Study Says Employers Resisting Cutbacks as Benefits Appreciation Mounts Healthy Families Act aims to expand paid sick leaveAlmost 60 million Americans lack a single paid sick day according to 9 to 5. If the Healthy Families Act, co-sponsored by Rep. Rosa DeLauro (D-CT) and Sen. Edward Kennedy (D-MA), is passed it may make it possible for most workers to earn up to seven paid sick days per year. If Congress passes the HFA (H.R. 2460, S. 1152) it will significantly increase the number of employers required to provide sick leave under federal law – in fact, all employers of 15 or more employees will need to allow up to 56 hours of annually paid leave in which to care for themselves or a sick child. It will also overlay a mandate to provide paid sick leave in addition to existing mandates applicable under the Family and Medical Leave Act. In response, some employers are considering Paid Time Off (PTO) policies, which combine all existing leave programs into one program. Further Reading:
Examining the Healthy Families Act
For Dad: Healthy Families Act Is Perfect Gift
Heads up on the Healthy Families Act Wellness programs may soon mean tax creditsIn light of many healthcare reform proposals being considered by lawmakers, it looks like wellness programs could soon provide tax credits to companies that offer them. About two-thirds of large U.S. companies offer some kind of wellness programs, which have been shown to lower insurance premiums, enhance productivity, and decrease absenteeism. House and Senate leaders are working on several related bills, hoping to find enough support to pass one or more measures. However, costs could get in the way — efforts to reform the U.S. healthcare system could actually cause some wellness programs to expand while others may tighten. Further Reading:
Congress Plans Incentives for Healthy Habits
Healthcare Reform Could Impact Wellness Programs
Tax Credits for Wellness Programs Considered A Quick Review of Last Issue's "Quick Poll"In the May 2009 issue of E to E we asked readers, "Has Michelle's Law been incorporated into your benefits plan?" Specific survey results are noted in the chart, below.
July Quick Poll – Vote
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