This article written by Cort Olsen for Benefits News discusses Met Life's 14th Annual U.S. Employee Benefit Trend Study, which examines benefits trends in the public sector.
Read the full original article from Benefits News.
Olsen cites from the report, “Higher education employers are more likely, at 41%, than their counterparts in K-12 education, at 26%, to change plan design to help balance their budgets. K-12 and higher education employers are about equally as likely to consider increasing employee contributions and to encourage competitive bidding…[but] unlike private businesses, the public sector has many rigorous and structured processes around procurement and bidding, and brokers tend to take a hands-off approach when dealing with those in the education and local and state government industries.”
Olsen also notes that overall employee satisfaction and loyalty is directly impacted by how satisfied an employee is with their benefits. It is the employers job to make sure they are choosing the right benefits plan for their employees, but the options can be overwhelming. Learn about all of the benefits plan options available in the Nonstop guide, Best Practices for Employee Healthcare Purchasing:
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