New Jersey employers have always valued the healthcare plans they provide, and with good reason: They are crucial to attracting and retaining good employees.
That idea was reinforced this week when the Association of Health Insurance Plan (AHIP) released a survey on Americans’ attitudes about their employer-provided health plans. The survey found that not only are employees generally happy with their coverage (71 percent said they were satisfied), but most (56 percent) said keeping their coverage was a key factor in their decision to stay with their current employer.
“Employer-provided coverage is a pillar of Americans’ health and financial security,” said Marilyn Tavenner, president and CEO of AHIP. “The results reaffirm that American workers and their families depend on their coverage to provide them with protection and peace of mind.”
For employers, the issue is how to absorb the increasing costs. As NJBIA’s Mary Beaumont recently told the Assembly Financial Services and Insurance Committee, “Employers recognize the competitive value to provide this benefit in a demanding market where skilled employees can be scarce. They continue to make sacrifices in order to offer coverage despite cost increases.”
It’s also a big reason NJBIA formed a new partnership to offer member companies access to affordable health plans through Association Management Trust.
“AMT can offer small businesses the advantages of a large, self-funded health plan: claim and cost stability, administrative efficiency, a full menu of comprehensive benefits, and when appropriate, a dividend to participating members,” says Wayne Staub, NJBIA’s Chief Business Relations Officer.