Tough but effective: 2 ways firms are fighting health costs
Newton may have rethought his theory that “what goes up, must come down,” if he lived to see the increases in healthcare costs over the past decade.
The latest Heatlh Care Cost Survey from Towers Perrin says that employers will see an average increase of 7% in their healthcare expenses in 2010.
While many firms don’t particularly want to shoulder employees with increased health costs (especially if the company has frozen wages or cut salaries), that’s exactly what many are doing.
Check out the chart below to see how companies are raising employee costs:
In addition, some companies are going to great lengths to ensure they’re not footing the bill for people who aren’t even eligible to receive coverage.
What they’re doing: conducting dependent eligibility audits.
According to a survey from Aon Consulting, companies that conduct these audits see anywhere from a 3%-10% decrease in dependent care expenses immediately.
- Share on
Free Training & Resources
White Papers
Provided by UJET
White Papers
Provided by Anaplan
White Papers
Provided by Anaplan
Further Reading
Repetitive data entry tasks can drain productivity. Excel’s Autofill and Flash Fill features automate these tasks, saving time and reduci...
Year after year, surveys show about half of all employees don’t tap their allotted personal time off (PTO). While some companies allo...
Artificial Intelligence (AI) is perfect for a range of Finance tasks. Billing, analysis data processing and other mundane but critical duti...
Finance rarely sees jury duty or bereavement as risk. They’re payroll line items. Until courts link them to USERRA military leave –...
Some of your year-end health plan responsibilities have lifted, thanks to eleventh-hour legislation from Congress. Plan sponsors that me...
On Aug. 7, 2025, President Trump signed an executive order expanding 401(k) plans’ ability to include alternative investments – such as...
