http://www.hrbenefitsalert.com/coping-with-tough-times/ Daily dose of benefits news and know-how Sat, 18 Jun 2011 21:36:33 +0000 hourly 1 http://wordpress.org/?v=abc http://www.hrbenefitsalert.com/coping-with-tough-times/comment-page-1/#comment-3572 Judy Buckley Thu, 05 Mar 2009 22:37:48 +0000 http://www.hrbenefitsalert.com/?p=446#comment-3572 For the first time this open enrollment period, we offered eligible staff a choice between renewing the HMO we already had, but with an increased co-payment and a buy-up on the premium, shared by staff and employer of $40 per month each, or a lower co-payment HMO that also has a lower premium. Three-quarters of the eligible staff chose the lower co-payment plan. Many were also able to keep the docs they already had. The day we did the insurance presentation was the same day the across-the-board pay cut of 7% was announced. That was hard, especially for the lower paid people. We don't have employer contributions to retirement plans, just a 403(b) (the nonprofit version of a 401(k) plan), so folks just talk to the broker as needed. Brokers are generally advising to keep investing and one will be in a good position when the market turns around (if it ever does!) As for the cuts, people generally feel fortunate to have a job and would actually rather "share the pain" than have anyone lose his/her job. I think productivity has not been affected, but undeniably there is some anxiety and sadness. Several staff have taken it on themselves to try to find way to raise funds, since it's unpredictable how the government (state and county) budgets will be in the next fiscal year. We have a very dedicated and, in many cases, long term staff. For the first time this open enrollment period, we offered eligible staff a choice between renewing the HMO we already had, but with an increased co-payment and a buy-up on the premium, shared by staff and employer of $40 per month each, or a lower co-payment HMO that also has a lower premium. Three-quarters of the eligible staff chose the lower co-payment plan. Many were also able to keep the docs they already had. The day we did the insurance presentation was the same day the across-the-board pay cut of 7% was announced. That was hard, especially for the lower paid people. We don’t have employer contributions to retirement plans, just a 403(b) (the nonprofit version of a 401(k) plan), so folks just talk to the broker as needed. Brokers are generally advising to keep investing and one will be in a good position when the market turns around (if it ever does!) As for the cuts, people generally feel fortunate to have a job and would actually rather “share the pain” than have anyone lose his/her job. I think productivity has not been affected, but undeniably there is some anxiety and sadness. Several staff have taken it on themselves to try to find way to raise funds, since it’s unpredictable how the government (state and county) budgets will be in the next fiscal year. We have a very dedicated and, in many cases, long term staff.

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