2008 ISCEBS Survey Findings
Steady CDH Growth is Expected for 2009: ICDC/ISCEBS Survey Findings
Employee benefits consultants are optimistic that consumer-directed health (CDH) will continue to see steady growth in 2009 and could even become part of health reform efforts, according to the fourth annual survey conducted by Inside Consumer-Directed Care and ISCEBS. However, employers' and employees' limited understanding about the plans remains a key barrier to the acceptance of the plans. Despite these concerns, many respondents were optimistic that enrollment will continue to grow as employers become more comfortable with the price setting and employees gain a better understanding of the potential cost-saving benefits.
Full Survey Results
Employers Continue to Consider Bold Changes to Retiree Medical for 2009 and Later – Survey Findings
Providing medical benefits for pre-65 and post-65 retirees presents continuing complex and costly challenges for most employers, a new survey from ISCEBS and Towers Perrin shows. Now in its fourth year, the survey found that employers are struggling to balance conflicting objectives in responding to organizational cost pressures, rapidly rising retiree contributions, administrative challenges, and the transition of older workers into retirement. The responses of the 135 participating organizations reflect the challenges of managing current obligations and increasing costs, along with some of the changes they have made or are considering.
Press Release | Full Survey Findings
Consumer-Driven Health Plans Continue to Gain Momentum
The number of employers offering a consumer-driven health plan continues to grow, with 45% of survey respondents offering one, up from 37% last year, reflecting the need to curtail costs and increase consumer involvement in health care. Conducted by Aon Consulting and ISCEBS, the survey found that of those offering a CDH plan, their goals in doing so included introducing "consumerism" into health care purchases, controlling rising health care costs, providing a vehicle for retiree medical savings and encouraging better use of health care services.
Press Release | Full Survey Findings
Aegis Risk Medical Stop Loss Premium Survey Shows 2009 Premiums at an Increase
Stop loss coverage amongst plan sponsors varies greatly – causing development of an average premium cost a difficult, if not irrelevant, task. Difference in individual stop loss (ISL) deductibles, as well as variation in contract type and individual lifetime maximums can have a large effect on premium. Enrollment size also impacts cost, with larger populations able to spread their catastrophic risk across a larger pool.
Respondents represent 54 employers with approximately 194,000 employees with over $37 million in annual stop loss premium.
The survey addressed such topics as aggregate coverage, 2009 projections, and ongoing strategies. It offers a worksheet to calculate Adjusted Premium for companies to compare the specific company information to the survey findings. Executive Summary | Full Survey Findings
American Workers: Getting Ahead or Just Getting By?
Many U.S. employees are struggling to get ahead financially and they're looking to their employer for help, according to a recently released study conducted by Alliant Credit Union and ISCEBS. The study's key findings include:
Benefits such as health and retirement plans are important, but are perceived as planning for future needs, whereas many employees have pressing current financial needs
Those with financial concerns spend significant work time dealing with personal financial matters
Half the respondents describe themselves as living from paycheck to paycheck, with less than 20% feeling financially secure
Only 10% of employers currently offer some sort of program to educate employees on how to be a better manager of their own money.
Such programs would be welcomed, with 85% wanting useful financial information at the workplace to help them become more savvy consumers.
Press Release | Executive Summary | Full Survey Findings.
Next Generation Of 401(k)s Shows Automatic Enrollment And Step-Up Provisions Doubling Among Employers: Deloitte Survey
Employers are taking decisive actions to make 401(k) plan participation as easy as possible for employees, according to the 2008 401(k) Benchmarking survey, conducted by Deloitte, the International Foundation of Employee Benefit Plans and ISCEBS.
Of the 436 plan sponsors surveyed, 42 percent now have an automatic enrollment feature — nearly double the 23 percent total in the last survey. Another 26 percent say they are considering auto-enrollment.
Survey respondents addressed such topics as eligibility and enrollment, contributions, matching formulas, investment funds, revenue sharing, defined benefit plans, fees, vendors, plan effectiveness, communications and administration.
Survey results indicate that employers and providers are taking decisive steps to help employees get involved in investing and preparing for retirement with less effort. Examples include an autoenrollment default rate and step-up provisions that automatically increase deferral percentages on the participant's behalf. Compared to the previous survey, use of both approaches has increased.
Despite these factors and the increased popularity of time-based lifestyle funds and Roth 401(k)s, participation rates have not increased and many employers believe that their employees are not taking full advantage of their 401(k) plans to fund their retirement.
Executive Summary | Full Survey Findings.