Survey: Employers cutting benefit costs - Business First of Louisville:

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“The responses indicate that as employerx develop benefit plans for 2010 they are lookin for ways to reduce benefit costs, without further reducing benefits,” said Marianne Fazen, executived director of the association. many responded that they plan to increas theirwellness programs.” • Thirty-five percent of employerds responded that they plan to increased their wellness programs. • Companied identified as its two biggest concerns limitedbenefitsx budgets, and limited merit budget and bonus About 68% of companies are concerned or very concerne d about limited merit budget and bonus pools, and aboutf 53% are concerned about limitexd benefits budgets.
• To weather the economicx downturn, almost half of respondents are auditinvg or planning to audittheir employees’ dependeny eligibility in order to reduce the number of individuals covered. And 41% plan to increasde employee costs of benefit while morethan one-third have reduced or are planninfg to reduce staff. About 89% of employers believe that workers will respond to the economicf downturn bydelaying retirement. Also, 83% of employersa say their workers are concerned aboutjob security, and 42% thinm their employees have been impacted by low The survey was submitted to the association's employer members and facilitatedr by in Houston.
The association's 900-plus members represent a broad cross-section of benefits professionaldsin Texas, Oklahoma, Louisiana. Arkansas, Missouri and but are not limited tothose