Skip to main content

2016 Employee Benefits Survey Offers Insight into Cost and Compliance Challenges

HANYS Benefit Services’ 2016 Employee Benefits Survey, Understanding the Strategic Value of Health Benefits, highlights the need to take a multi-faceted approach when designing a cost-efficient and competitive benefits package.



A benefits package must be structured in a way that is competitive and controls costs, without shortchanging employee health and wellbeing. To achieve this delicate balance, employers are increasingly seeking guidance on compliance and plan design.



“This survey helped call to attention the increasingly complex circumstances under which employee benefit plans are constructed,” said James J. Kelley, President, HANYS Benefit Services. “Employers still need to design plans that are cost effective without a negative impact on recruitment or retention of key employees. The message is clear that the best way to accomplish this goal is to use creative strategies and seek professional guidance on regulations.”



Key takeaways from the 2016 HBS survey:


  • Employee benefit regulations and laws created trouble spots for employers. When attempting to meet Affordable Care Act (ACA) compliance requirements, obstacles to success were not so much about confusion over these requirements as about process issues and external factors, such as a lack of guidance as to what codes they should be using, which prevented completion of the reporting. 

  • Employers are relying on shared responsibility to offset increased employee health insurance costs. Doing whatever they can to leverage all the tools at their disposal, employers are taking a multi-faceted, comprehensive approach to solving this highly complex problem. They also recognize that keeping costs down needs to be a partnership approach between the company and its employees.

  • Employers are viewing their wellness efforts more holistically and creatively. Most organizations offer a wellness program, but included in the mix is an effort to address not only physical ailments but also the overall financial wellness of employees as part of a more holistic approach that recognizes the body-mind connection.

  • There is a need for guidance on regulatory and legislative compliance. At a time of increased government oversight, the vast majority of employers are turning to industry experts for guidance on regulatory and legislative compliance. The findings suggest that hiring and retaining a trusted adviser will be a crucial path to success.


The polling sample for this report primarily reflects experiences in the large employer market. Most of the executives polled (41%) work for companies with 1,000 or more benefits-eligible employees, including full-time and part-time staffers but excluding temporary help and interns. Considerable insight also was offered by companies with head counts of 100 to 499 (32%). Responses from human resources professionals were summarized and analyzed to help inform key employee benefits topics and provide insight to be used by human resources professionals.



Read Understanding the Strategic Value of Health Benefits to learn more. If you have any questions, or would like to begin talking to an advisor, please get in touch by calling (800) 388-1963 or e-mail us at hbs@hanys.org.

Popular posts from this blog

Employee Benefits Offerings: What Perks Can You Add?

Employee benefits can play a crucial role in attracting and retaining top talent. Beyond compensation and bonuses, offering a variety of perks can significantly enhance employee satisfaction and productivity. But what should you include in your employee benefits offerings?   What are employee benefits?   Employee benefits encompass compensation, bonuses and various perks outside an employee's wage. By offering flexible employee benefits, you can improve employee productivity and loyalty while attracting and retaining talented candidates.   Personalized benefits examples   The type of benefits offered can vary by industry. We've compiled some of the most popular options to help you explore possible employee benefits strategies .  1. Social opportunities   Employee perks don't always have to be tied to a benefits package. Sometimes, the best way to engage your employees can be through social opportunities. Group activities can help im...
Read more

What is Risk Management? 4 Key Topics to Know

Understanding risk management in retirement programs  Managing a retirement program is complex, with multiple layers of risk. For organizations and their leadership, understanding and mitigating these risks is crucial to ensuring the long-term success and reliability of these programs.   It often leaves human resource professionals, employers and program administrators questioning, "What is risk management, and how can we excel at it?"  This blog post explores the various aspects of risk management in retirement program administration and provides actionable insights to help organizations better manage these risks.  The importance of risk management  Retirement programs are designed to benefit participants and beneficiaries, but they come with their own set of risks. These risks can be broadly categorized into four main topics:  Fees  Administration  Investments  Cybersecurity  Each of these topics requires meticulous attention and ...
Read more

Innovative employee retention strategies: 9 fresh ideas

Employee engagement and retention are pivotal in every sector, but they carry even more weight in the not-for-profit space, where resources are often limited. High turnover can be both costly and disruptive, impacting productivity and damaging morale. In an era of workforce evolution, to effectively retain their top talent, organizations must explore innovative employee retention strategies that go beyond conventional methods.  Engaged employees are distinguished by their higher productivity, motivation and loyalty, and they are more likely to stay with a company for the long term. Gallup recently updated its research article, The Benefits of Employee Engagement , finding that "low engagement teams typically endure turnover rates that are 18% to 43% higher than highly engaged teams."  In addition to turnover, disengaged employees negatively impact a company's financial health, with turnover costs averaging six to nine months of the departed employee's salary, accordin...
Read more