Explore BrainMass
Share

Employers Controlling Benefit Costs

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

I need help and additional information for the following:
1. How health insurance benefits might impact the organization's overall strategic goal-setting process.
2. How a business can control its health insurance benefit costs while using the benefit package as a recruitment and retention tool.
3. Give practical examples and bring in real-life business examples.

© BrainMass Inc. brainmass.com October 25, 2018, 10:07 am ad1c9bdddf
https://brainmass.com/business/compensation-strategies/employers-controlling-benefit-costs-599183

Solution Preview

There are some very good examples that address all three: how health benefits impact an organization, how a business can control costs while also using their health benefit package as a recruitment and retention tool, plus examples reflecting both. The Centers for Disease Control (CDC) illustrate how health programs at the workplace can impact health care costs.

A company that invests in their employees' health can actually lower health care costs, insurance claims, increase productivity and employee retention. Research shows that employees with increased risk factors, such as being overweight, smoking and ...

Solution Summary

Included are examples of how companies can save money on employee benefits while also using them as a recruiting tool.

$2.19
See Also This Related BrainMass Solution

Employees Benefit communication; administration, cost controls

First Part of Discussion: Benefits Communication

1-Does your current (or previous) organization have a strategy in place to communicate its benefits plan to employees?

2-If so, how effective is it, and what can be done to improve it?

3-If not, what are your thoughts on putting a benefits communication plan in place?

4-Would it be beneficial?

Companies today must have benefits that compete to draw in and retain top talent. Unfortunately, the way they communicate the message is often less than desirable.

5-Evaluate how your employers communicate their benefit plans.

6-What are your thoughts on the communications that they utilize?

7-What is a best practice?

8-What could be improved?

Second Part of Discussion: Benefit Administration and Cost Controls:

Insurance providers and employers alike are searching for techniques and strategies to help control their benefit costs.

9- Has your organization been able to find ways to improve your benefit program or add new benefits without adding a heavy cost burden to your department or your employees?

10- Will your organization's budget for employee benefits be growing, staying the same, or potentially shrinking over the coming year?

This issues seems to be a concern to us all every year with the increasing cost increases in medical care. Insurance providers and employers look at different ways to control benefit costs.

11-Which ways do you feel are most effective?

12- How do these work to control cost and provide the best benefit possible at the most reasonable cost?

View Full Posting Details