This article from BoardSource, written by Mike Wurtsmith, discusses the importance of nonprofit boards playing a role in employee healthcare purchasing.
Read the full original article from BoardSource.
Human Resources departments typically have too much on their plates to explore alternative healthcare plans when it's time to renew, and renew the same plans year-after-year. Boards are missing a significant opportunity to take part in a huge financial decision, and cannot leave HR departments to work in a silo on healthcare decisions.
Healthcare needs to become a purchasing priority for boards, and Wurtsmith suggests the following questions members can ask to make that happen:
There are many options the board can consider when making healthcare purchasing decisions. Download our Best Practices for Employee Healthcare Purchasing to learn more about those options:
The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purpose