Survey: Employers cutting benefit costs - Business First of Louisville:

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“The responses indicate that as employers develoop benefit plans for 2010 they are looking for ways to reducedbenefit costs, without further reducing said Marianne Fazen, executive directod of the association. many responded that they plan to increases theirwellness programs.” • Thirty-five percent of employers respondee that they plan to increase theier wellness programs. • Companies identified as its two biggesty concerns limitedbenefits budgets, and limited meritg budget and bonus pools. About 68% of companiesz are concerned or very concerneed about limited merit budget andbonus pools, and about 53% are concernefd about limited benefits budgets.
• To weatheer the economic downturn, almost half of respondentsz are auditing or planning to audittheier employees’ dependent eligibility in order to reducd the number of individuals covered. And 41% plan to increasde employee costs of benefit while morethan one-third have reduced or are planning to reduce staff. About 89% of employers believe that workers will respondr to the economic downturn bydelayinf retirement. Also, 83% of employers say their workers are concerneed aboutjob security, and 42% think theirt employees have been impacted by low The survey was submitted to the association' s employer members and facilitated by in Houston.
The association's 900-plus members represent a broad cross-section of benefits professionalsin Texas, Oklahoma, Louisiana. Missouri and Kansas, but are not limited to those