Employees don't believe their benefits cost so much!

Only 53 percent of employees believe what their companies say when it comes to rising healthcare costs, according to a Towers Perrin study. Also, only 28 percent of employees, "feel that it would be appropriate for employers to ask them to help absorb cost."

"Employees understand that health-care costs are a problem, and they're open to behavior changes that could reduce costs both for them and for their employers, but they're not motivated to change just to save the company money. Employers need to recognize that health care is primarily an emotional issue for employees, not a cost issue. For consumerism to be fully effective, employees need to believe it's in their self-interest." - Workforce Management Week Vol 5 Issue 24

Your employees must recognize the extensive and costly benefits you are providing. If not, you are losing a great tool for retention, productivity and morale. How do they recognize this? You need a formal and professional statement of benefits personalized for each employee - annually!

PSG offers professional, automated, and cost effective statements, benefit communication documents and consulting services. In addition, we help your organization communicate the introduction of new plans (FSA - Section 125, College Savings Accounts, etc.) which will save your employees and your organization money - every pay period!

The best time to provide a statement is right before the employee makes his or her new elections in the reenrollment period. This is also an excellent time to gather changes in the employee's personal information, life changes, and to provide the employee with financial planning tools.

One of our benefit consulting professionals can help you develop a plan that is appropriate for your company, your budget, and your employees.