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Benefits October 22, 2000
Health Benefits Burden Employers
October 22, 2000 (PLANSPONSOR.com) - An overwhelming
84% of large employers say they spend too much time managing
day-to-day health benefits, according to a new
survey.
Reported by Nevin E. Adams
Still, most large employers (70%) say they are unlikely to stop offering health benefits, at least for the next two to three years, according to the survey by William M. Mercer.
While overall only 5% report high interest in an exit strategy and just 4% report a high likelihood of implementing such a strategy, those in finance, insurance, and services industries appear to be seriously reconsidering their options.
More than half of the companies in those industries report they are very (15%) or somewhat (39%) interested in considering an exit option.
Dissatisfied employers are examining their own operations, with an eye toward:
- saving money
- increasing employee satisfaction
- improving worker productivity
Despite the risks presented by a tight job market, some employers indicated they might begin modifying their plans as early as next year.