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Article: Year-end plan review: it's the ideal time for a formal review of your company's health plans.(Health Care CENTRAL)
- Article from:
- Detroiter
- Article date:
- January 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Detroit Regional Chamber. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The end of the year is frequently a time of review and reflection for many. However, most organizations do not take the time to formally review their health plans and the changes made that year on a retrospective basis.
Employee benefits are becoming a greater part of the compensation package and they also are becoming more complex. It may make sense for an organization to take stock of the actions taken in 2004 and the impact on their employees and their budget. The results of this review should then be used in planning for the following year.
Five to 10 years ago, employee benefit plans remained relatively stable. Trend increases in the medical plan ...