Boston College offers a health cash plan to all of its 450 employees, irrespective of their level of seniority or the number of contracted hours they work. Its health cash plan, provided by Westfield Health, has helped to reduce staff sickness absence rates by 28%; employee absence rates for the entire workforce fell from 4,114 days in 2011 and 2012 to 2,955 days in 2013 and 2014.
The plan also enables staff to pay towards health resources they may not otherwise have access to, such as acupuncture and osteopathy, as well as an employee assistance programme (EAP).
Tim Millington, human resources manager at Boston College, says: “There is no doubt that there are some additional benefits to PMI compared to a health cash plan.
“[But] further education has suffered badly under the austerity measures introduced over the last few years, and we have to recognise people’s financial restrictions at the college.”
Millington adds that Boston College’s health cash plan adheres to employees’ needs effectively, and explains that budgetary constraints mean the college cannot offer PMI as well. “We have found the cash plan to be a very well-received employee benefit offering excellent value for money for [employees], and providing great results in staff engagement and staff absence,” he explains.