Health Insurance Headaches
Tuckahoe, New York-based insurance seller Chuck Rollins, president of The Rollins Agency, said controlling benefit costs has been difficult—if not impossible—for his clients over the past 10 years. And, while many companies put benefits programs out for bid every two or three years in an attempt to get the lowest premium possible, he pointed out that this practice may expose them to unnecessary administrative burdens and could actually increase the total cost of their benefits program. Rollins also cited a 2004 survey by the Economic Benefits Research Institute, Redmond, Wash., in which 79 percent of respondents said they base their decision to accept or reject potential employment on the company’s benefits program. “Businesses are learning that insurance premiums are just one facet of the total cost of benefits,” he said. “The structure and design of a benefits program has a direct impact on key areas, such as productivity, employee turnover and administrative costs. The challenge is to strategically design and manage a benefits program that focuses on all variables that affect total cost.”
- Companies:
- Printing Industries of America, Inc.
- People:
- Chuck Rollins
- Ronnie H. Davis
- Places:
- Sewickley, Pa.
- United States