Gary Taffet: Employee Benefits Are Ever-Changing in Hospital Settings

PRINCETON, N.J., Feb. 19, 2013 /PRNewswire-iReach/ -- While hospitals are typically thought of as organizations that take care of the sick and the injured, it is equally true that hospitals are employers—and as such, they are tasked with taking care of their employees. A recent study, reported in Becker's Hospital Review, highlights some of the trends in hospital employee benefits programs. The study has won the attention of Gary Taffet. A long-time professional in insurance brokerage and employee benefits administration, Taffet has responded to the hospital study with a new statement to the press.

"Hospitals are significant players in both the delivery of employee benefits for third party patients and for their own employees, as part of their own group benefits plans," comments Gary Taffet in his press statement, illuminating the unique position held by hospitals and healthcare systems. He continues by acknowledging some of the trends spotted in the recent study. "Hospitals are increasingly cognizant of the need to recapture as much of their healthcare spend as possible to help their employees and their own bottom line. They are adding emphasis on wellness and taking a competitive approach to managing all facets of monies spent for employee benefits. Hospitals are substantial employers and are finally managing themselves as competitive corporate entities, in this regard."

Meanwhile, the article suggests that the first and foremost trend shaping hospital employee benefits program is a renewed vigor in directing hospital employees to take advantage of the hospital's own medical services. The study notes that employee health benefits are a major source of concern in all industries, but hospitals have the unique advantage of being able to encourage employees to use in-house or in-network healthcare provisions.

As Gary Taffet suggests, hospitals and healthcare systems are also placing a greater focus on wellness programs and preventative care. The study notes that many hospitals are boosting their educational initiatives and becoming more proactive in encouraging employees to join community wellness initiatives.

The study notes several other trends in hospital employee benefits programs, not all of them directly related to healthcare. For example, the study suggests that these huge employers are moving away from the "sick bank" models of old, and are instead embracing more conventional programs for PTO. Additionally, hospitals are beginning to move away from the traditional pension plan, and are instead embracing more modern standards of retirement planning, such as 401(k) plans. Hospitals are also coming to embrace hybrid retirement plans; the bottom line, according to the study, is that hospitals and healthcare systems are much more likely to reconsider and reconfigure their retirement plans than they used to be.

Gary Taffet has worked in insurance brokerage and benefits consultation for years. Currently, he works with the New Jersey company Reliance Insurance Group, where he provides reviews and audits of employee benefits programs, helping companies make better-informed and more efficient decisions.

ABOUT:

Gary Taffet is a veteran of the insurance brokerage and employee benefits administration industries. He currently serves with the New Jersey-based Reliance Insurance Group, a national leader in all manner of employee benefits and insurance services.

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Miranda Erlewine Mark-PR.com, (678) 685-8304, mark@mark-pr.com

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SOURCE Gary Taffet

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http://www.relinsgroup.com