Club Management - Benefits broker helping your club control costs?
Posted on Sat, Sep 12, 2009 @ 01:26 PM
Introduction
Most clubs evaluate all major club management systems around this time of the year. At the top of the list should be your benefits plan. Given the current economic pressures and legislative changes, it is critical to evaluate your current plan to identify potential savings.
See the study below for an example of how much money can be left on the table by managers who are not "high performers' in managing their plans.
ClubPay can help, we have an extensive network of benefit plan professionals that can provide you with an analysis to identify potential cost reductions and plan inefficiencies.
If you would like help at your club, just give me a call at 877.729.4258 (102) or email me at tom@clubpayroll.com.
High Performers are Controlling Costs
Courtesy of Towers Perin
High-performing companies are making significant strides in controlling health care costs by aggressively managing their benefit programs and making effective use of account-based health plans (ABHPs) and other consumer-based approaches.
Results from the Towers Perrin 2009 Health Care Cost Survey show that high-performing companies will pay, on average, 12% less in annual health care premiums in 2009 compared to low-performing companies.
Equally striking, high performers share the cost savings with employees - and, overall, report a health dividend that includes both better financial results and workforce performance advantages, such as high employee engagement.
Health benefit costs still on the rise
Corporations will spend, on average, $9,552 per employee for health benefits in 2009, an increase of 6% from 2008.
However, the cost variations are wide, with high-performing companies reporting a per-employee cost of $8,904 compared to $10,104 for low-performing companies. At high-performing companies, the cost per employee in ABHPs with health savings accounts (HSAs) is even lower - $7,032.
High performers defined
The performance designations are based on relative costs and cost increases, coupled with metrics that test whether an organization is meeting its health benefit objectives in certain key areas:
- managing employer and employee costs
- enhancing efficient purchasing of health care services
- enhancing employee understanding and engagement
- enhancing employee satisfaction, attraction and retention.
High-performing companies in the survey focus primarily on supporting and improving employee health. They also commit to rigorous and continuous management of their health plans and delivery processes.
For a complimentary analysis of your employee benefits programs please Contact Tom Howard at tom@clubpayroll.com