Dive Brief:
- Chief financial officers may have a warm place in their hearts for the bottom line, but when it comes to health benefits, they are not just concerned about cost savings, according to a recent survey.
- The survey, from the non-profit Integrated Benefits Institute (IBI), found that nearly half (44%) of CFO respondents identified controlling costs as the most important of their company's top five goals for health and related benefits.
- However, almost as many (36% total) identified attracting, retaining, and satisfying talent (15%), helping employees become better healthcare consumers (10%), helping enrollees become healthier (9%), and improving workforce productivity (2%) among their company's most important benefits goals.
Dive Insight:
According to the IBI, the findings are a good indicator of how employer health benefits plans have evolved since the Affordable Care Act, and how these changes connect to larger business goals. While shifting healthcare costs to employees is on the rise generally, that strategy is less likely among employers who place more importance on attracting and retaining talent, and improving productivity. Employers that value enrollee health are also more likely to increase wellness programs and incentive use since the passage of the ACA.
IBI President Dr. Thomas Parry said the results go against the popular notion that CFOs demand a hard ROI from health promotion programs, or that employers are scrambling for the cheapest options.
"If we want to understand where companies are going with health benefits, we need to think of them within the context of business strategies beyond cutting costs," Parry said.
