ABD Ins. & Financial Services Releases Calif. Employee Benefits Survey

The number one insurance-related concern expressed by employers today is how to contend with the accelerating cost of benefit plans, according to a survey from Redwood City, Calif.-based ABD Insurance and Financial Services.

ABD announced the availability of an essential tool for small and mid-size California employers in assessing current benefit programs and for making effective decisions based on up to date, comprehensive data.

A full year in the making, the 2003 ABD Cybersure® Benefit Report provides thorough information and analysis of financing alternatives, cost shifting development and trend projections that enable employers to prepare for benefit plan cost increases and to benchmark their performance based on comparable, industry-specific statistics.

The report, available to qualifying employers and ABD clients, compiles data from more than 1,100 California employers, bridging all industry classifications and representing over 380,000 full-time employees covered by health and welfare benefits. The survey provides employers with region specific information as opposed to generalized national data.

Human resource professionals overwhelmingly ranked the quality of services received from insurance carriers as the second highest concern behind the escalating cost of benefit plans. Nearly half of those surveyed had changed carriers during the past 24 months based on price and service concerns. Customer service and other performance data on more than 20 major insurance carriers is included in the survey.

In-depth analysis of these essential areas of concern is also included in the report:

-Overview of benefit plan designs throughout California
-Funding mechanisms and preferences for HMO, medical, dental and related health coverage
-Trends in cost controls, products and employer strategies
-Report card on quality of carrier services

For more information visit: www.cybersure.com/Surveys/eb/form.asp.

Topics California Trends