Public Sector employers face incredible pressure to contain their employees’ health care costs – learn the innovative approaches they use to meet this challenge.
Indianapolis, IN, March 22, 2013 – For public sector employers, which are accountable to taxpayers, it’s essential -- if not required -- that they develop an effective strategy to manage employee benefits. The Government Finance Officers Association (GFOA) -- an organization of more than 17,000 financial administrators across the country -- teamed up with Colonial Life & Accident Insurance Company to conduct a research study on health care cost management strategies that could benefit both the public and private sectors. The results of that study are being shared in the webinar, “Lessons in Cost Management From the Public Sector: What Organizations of All Types Can Learn” on Wednesday, April 3, 2013 from 2 – 3 p.m. ET, hosted by Colonial Life and United Benefit Advisors (UBA). To receive the $149 discount for this webinar, enter the code UBACL when registering.
“I can’t think of a better business sector to teach us about budgetary constraints than the public sector,” says Thomas Mangan, CEO of UBA. “Public sector employers have an essential need to balance employee benefit costs with quality health plans that attract top talent.”
Webinar participants will learn:
- Which benefits cost-management strategies are most widely used.
- Which strategies are the most highly recommended.
- Which strategies are being underutilized and why.
- The amount of savings possible by implementing some of these strategies.
- Case study examples.
The webinar is designed to help both public and private sector employers benchmark the strategies they are currently using to manage employee benefits cost, validate their direction, and give new ideas on practices and techniques to help control the ever-increasing costs of employee benefits.
One example of the realized health care cost savings achieved from these strategies included in the GFOA study comes from a local government in Indiana that saves $90 on each full-panel blood draw they conduct through an on-site clinic, rather than using a private provider. Other potential benefits include less absenteeism from employees being sick or attending appointments and fewer hospital visits, all of which can lead to lower costs. Research on on-site clinics finds they can provide a substantial return on investment, with figures ranging from $1.60 to $4 saved for every dollar invested.
“A change in benefits strategy can be an emotionally controversial topic,” says Mangan. “This webinar also provides effective employee communication techniques that help support health plan transitions.”
About Patrick McCullough, Assistant Vice President, Public Sector Practice Leader
Mr. McCullough is charged with developing employee benefit services and solutions for both government and educational organizations for Colonial Life & Accident Insurance Company. He worked with the Government Finance Officers Association (GFOA) on its research study on health care cost management strategies and was a co-presenter at the GFOA national conference in Chicago and on several of their training webinars.
About United Benefit Advisors
United Benefit Advisors is the nation’s leading independent employee benefits organization with more than 200 offices throughout the U.S., Canada and the U.K. As trusted and knowledgeable advisors, UBA Partners collaborate with more than 2,200 fellow professionals to deliver expertise, thought leadership and best-in-class solutions that positively impact employers and make a real difference in the lives of their employees and families. Visit UBA online at www.UBABenefits.com.
About Colonial Life and Accident Insurance Company
Colonial Life & Accident Insurance Company is a market leader in providing financial protection benefits through the workplace, including disability, life, accident, cancer, critical illness and supplemental health insurance. The company’s benefit services and education, innovative enrollment technology and personal service support more than 75,000 businesses and organizations, representing nearly 3 million working Americans and their families. For more information, visit coloniallife.com or connect with the company at www.twitter.com/coloniallife and www.linkedin.com/company/colonial-life.