All articles by Sam Barrett – Page 16
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Article
Buyer's guide to healthcare cash plans (May 2009)
As employers try to trim the cost of healthcare benefits, cash plans are increasing in popularity as a value-for-money perk, says Sam BarrettOnce seen as a poor relation of private medical insurance (PMI), healthcare cash plans are proving their worth as a mature and flexible employee benefit. With healthcare spend ...
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Analysis
Looking after the health of employees posted abroad
If you read nothing else, read this...Insurers monitor the type of treatment that is standard in each country to ensure employees access treatment that is safe and appropriate.To help reduce fraud, insurers check every claim against their claims database and published price lists to ensure that the cost is reasonable ...
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Article
Buyer's guide to group income protection (April 2009)
Greater competition and the development of shorter-term schemes are making group income protection more cost-effective, says Sam BarrettRead more Buyer's GuidesFocus on facts:What is group income protection?Group income protection (GIP) provides an income for employees who are unable to work as a result of long-term illness or injury. It is ...
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Analysis
It pays to review healthcare benefits
Executive summaryThe introduction of new drugs and procedures means that medical inflation is running at around 8.5% a yearAround 80% of costs are driven by the 15% to 20% of people with chronic conditions.There are a number of ways to keep a cap on private medical insurance costs, from reducing ...
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Analysis
Employers should check cost-effectiveness of benefit advisers' commission
Benefits advisers can be remunerated in various ways, so employers should check the cost-effectiveness of how they pay for their services, says Sam BarrettThe advice and support required to implement a well-designed benefits package that fits an organisation’s business strategy, meets the needs of its employees and offers value for ...
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Analysis
The rise of healthcare cash plans
Executive summary Healthcare cash plans are popular among employees and employers alike during tough economic times because they give access to key health services for a low cost. They can cover dental, eyecare, physiotherapy, osteopathy, counselling, stress helpline, specialist consultations and diagnostic tests - exactly what they cover can be ...
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Case Studies
Case Study: Unilever extends healthcare to include wellbeing
Last year, Unilever extended its traditional benefits package, which includes private medical insurance, with the launch of a wellbeing programme, Vitality into Action.Its first wellbeing initiative was a 15-minute health screening which checked details such as employees' weight, blood pressure and cholesterol, and provided tailored health information or referrals where ...
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Analysis
Balancing the need for both health and wellbeing perks
The Increase in wellbeing products has made it harder for employers to work out how best to spend their healthcare budget, says Sam BarrattFor years, offering a healthcare benefits package has meant either providing staff with private medical insurance (PMI) that gives them access to treatment faster than on the ...
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Case Studies
Case Study : O2
Telecommunications company O2 implemented a flexible benefits scheme in the summer of 2007 to enhance the benefits that it offers to its 11,000 employees in the UK. Colin Watt, head of reward, explains: "We introduced the scheme to offer more to our employees in terms of their total reward package ...
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Article
Obtaining financial sign-off for flex in tough economic conditions
Obtaining financial sign-off for flex can be tricky, but there are a number of factors that can build a persuasive business case, says Sam Barrett.Obtaining the financial sign-off necessary for making significant changes to employee benefits packages can be tricky at the best of times, but with the continuing economic ...
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Analysis
Tax anomalies around healthcare benefits
There are a number of anomalies in the taxation of healthcare benefits, so it is essential for employers to check the rules, says Sam Barrett.Tax was never designed to be simple, but the rules surrounding some healthcare benefits are littered with anomalies, with the tax treatment depending on the benefit, ...
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Analysis
Rebroker health insurance benefits for a keener price
Executive Summary Life assurance is price driven, so to reduce the premium look for a more competitive deal every couple of years. Private medical insurance premiums can be reduced by removing psychiatric cover, alternative therapies, maternity cover, exclusive hospitals and by adding an excess. Switching providers can also ...
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Analysis
The role of healthcare perks in recruitment
The most attractive and effective health and wellbeing packages are those that have been carefully tailored by employers to suit the profile of their workforce, argues Sam BarrettEmployers are tapping into the UK's obsession with health and fitness, putting together benefits packages with healthcare perks, such as private medical insurance, ...
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Analysis
Best practice claims management for group risk perks
Incidences of long-term absence are few and far between, but the way a claim is managed can make a significant difference to the outcome for all concerned.The groundwork for claims management is often put in place long before a claim occurs. Simon Bailey, head of marketing for employee benefits at ...
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Analysis
Providing group risk benefits through flexible benefits plans
No two employees are alike, with family commitments, lifestyle requirements and personal taste making it unlikely all staff will appreciate the same benefits.Flexible benefits schemes address this, allowing employers to offer a range of benefits that employees can pick and choose from to suit their needs and staff to vary ...
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Analysis
The evolution of group risk benefits
Over the last 20 years or so, the working world has changed dramatically. But while staff no longer expect their employer to look after them from the cradle to the grave, group risk benefits have hardly evolved accordingly. Brian Morgan, business development director at Heath Lambert, says: "Many companies have ...
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Analysis
Restructuring bonus arrangements
Once seen as an incentive primarily for sales staff, bonuses are now given much more widely to reward everything from attendance and service to performance and company profitability.Duncan Brown, director of HR services at PricewaterhouseCoopers, says: “About 90% of organisations have some form of bonus scheme. Employers like the concept ...
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Article
Buyer's Guide to occupational health
Impending government measures are helping to focus employers’ minds on the need for efficient occupational health services, says Sam BarrettOccupational health is fast becoming one of the most desired workplace tools, with take-up now extending far beyond its traditional market of large companies and manual workforces.Wayne Pontin, business development director ...
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Analysis
Benefits for low paid staff
Finding benefits that appeal to and motivate employees on low wages without busting either their own budgets or that of their organisation can be a challenge.For this reason, many employers have been guilty of overlooking the needs of this group. Tobin Coles, head of flexible benefits at Jelf Group, says: ...
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Analysis
Supporting staff in times of crisis with perks
Financial, health or family-related crises can affect employees at work, and employers need to have support mechanisms in place, says Sam BarrettThe impact of the credit crunch on businesses has been well documented, but the problems it raises for employers could go much further than their bottom line. Many employees ...