As a result of health care reform, employers – especially smaller ones – are turning to their benefits consultants, brokers and agents for more help, according to a new poll from MetLife.
The MetLife Health Care Reform Poll, released Jan. 25, found that 57% of employers with fewer than 500 employees and 48% of employers with 500 or more workers say they will be relying on their consultants, brokers and agents more than ever.
The poll also found that while many small employers are not sure about their next action steps, larger employers are considering changes to their health plan design and increasing their cost-sharing arrangements with employees. For example, 39% of employers with 500 or more employees are considering plan design changes, and 40% are considering increasing cost sharing. For small employers (fewer than 50 employees) the corresponding numbers were 22% and 24%; for mid-sized employers (between 50 and 500 employees) the numbers were 28% and 28%.
Larger employers are also planning to focus more on wellness and disease management programs as a result of health care reform, the MetLife poll found. While 11% of employers with fewer than 500 employees say they will put greater emphasis on these programs, the percentage more than doubles, to 27%, for employers with 500 or more employees.
The majority of both small and large employers say they currently have no plans to reduce their spending on non-medical benefits in the wake of health care reform. The poll found that only one in 10 employers with fewer than 500 employees, and two in 10 with 500 or more workers, anticipate reducing spending on benefits like disability, life and dental insurance as a result of the legislation. In fact, 43% of employers feel strongly that offering non-medical benefits will become a more important strategy for their companies over the next five years.
“This is good news for workers, since the poll also found that health care reform has increased the importance of non-medical benefits to them,” says Dr. Ronald Leopold, vice president and national medical director, U.S. Business, MetLife. “The poll found that 71% of employees who say they have a good understanding of health care reform also say that their non-medical benefits are very important in driving their feelings of employer loyalty, compared to only 57% of employees who admit they don’t have a good understanding of the legislation.”
MetLife interviewed 1,508 benefits decisionmakers and 1,412 full-time employees age 21 and over. The poll was conducted during the fourth quarter of 2010.
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8 Comment(s)
Posted by: amitava s | April 6, 2012 4:42 AM
The employers should continue the kind of health care benefits they are offer now. It is obvious that a rise in the health care costs would eventually cause a problem for them but this benefit is essential for the employees. Running any business successfully depends on effectiveness of marketing campaign too. New strategies like affiliates should be utilized.
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Posted by: Prabir B | April 3, 2012 5:54 AM
New reform is definitely bringing changes with it. It is going to be tough for the employers. Hopefully they will come up with solutions that would be beneficial for both the employers and employees. Now most employers prefer outsourcing payroll services, this takes a load off their shoulder.
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Posted by: jack j | March 23, 2012 10:28 PM
I think going with a broker is so good. I think going this way is definitely the way to go. You are able to get so much great information from it. Toronto hotels
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Posted by: keyra_hunt | March 20, 2012 5:17 PM
No wonder people are turning to all these kinds of methods. When it came to enhancing my income, I myself looked up for some ways to make money online. It does take a bit of know how, a lot of willingness and ambition to make it. I may not be very familiar with the risk management techniques brokers use, but when it takes to other safer ways of enhancing my income online, I`m all for it.
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Posted by: LILIUM | December 26, 2011 5:50 PM
I assume all couples that are car owners have made thorough research on car insurance quotes and they signed for the most reliable car insurance quotes. As a driver, you undergo many risks and you should be cautious about that. I can`t even imagine how expensive it must be to even change some car parts on it. We live in a world where we need constant back-up on our investments, which is, in this case, a car insurance.
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Posted by: LILIUM | December 5, 2011 8:17 AM
In a financial climate ruled by so many uncertainties, people try to make it on they own and get prepared for anything that might happen. I have meet so many people going online and asking what should they do in order to increase their incomes. I still have a job to cover for my mortgage and expenses, but I don`t know for how long. I recently found this online betting website and I starting using it. So far, so good. Though I`m being cautious about it.
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Posted by: JR15 | December 2, 2011 12:45 PM
Conventional thought by those who oppose HC reform, is that the cost will have to be absorbed elsewhere. This typically means raising prices, or cutting down on production which can lead to seeing less people on the employee schedule and more out looking for work. Obviously, no one wants this to happen but for small businesses especially this is a potential reality according to some people.
Whether or not that would be the reality of HC reform, it is good to see businesses thinking of new ways in which to package their benefit plans in ways that give their workers value. Furthermore, encouraging preventative measures and overall wellness will not only be beneficial from a health perspective, but also could increase on the job production.
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Posted by: thewellnessdude | March 2, 2011 1:24 PM
HC Reform is going to force more broker transperency and only the agents, brokers and consultants,who actually provide services rather than just 'middle man' the deal will remain and prosper. The 'middle men'They really were not doing anything anyway other than taking the CEO and CFO golfing at renewal time...... Risk Management /brokerage houses like mine that specialize in Wellness and Employee benefit policy design are hopefully the brokers of the future. PS- EBN is my choice for truely providing industry news, trands and expert guidance.I read it cover to cover the day it arrives..... I was NOT asked to say that either!!!!!!!
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