Small companies and health care
Maybe it’s because small business owners have to look at their employees every day. No one can be really sure, but recent numbers about employee health care costs are a bit startling.
Only 75 percent of employers with fewer than 250 employees require their workers to pay part of their health care coverage. Meanwhile, 94 percent of large companies with 2,500 or more employees require employees to pay part of their health care coverage. These figures were uncovered by Watson Wyatt’s 1998/99 ECS Survey Report on Employee Benefits.
Health care compensation blues
CEO pay packages at the nation’s largest publicly owned, for-profit health care companies remained flat in 1998, reflecting Wall Street’s continued skepticism of an industry troubled by a stunning drop in market value, according to a new study by William M. Mercer Inc.
From fiscal year 1997 to 1998, the median increase in total cash compensation, which includes base pay and bonuses, among health care CEOs was 5 percent, due largely to a median salary increase of 9 percent. However, total CEO pay packages at the largest health care companies actually declined due mainly to poor stock performance, but nevertheless a rare phenomenon in the world of executive compensation.
What drug abuse costs your company
If one of your employees is using on the job, it could be costing you as much as $10,000 each year. That comes from Cyndy Cook, director of marketing and sales for Clinical Health Laboratories Inc.
“In addition,” she says, “the Bureau of Workers’ Compensation discounts premiums from 6 to 20 percent for organizations that develop a drug screening program in support of a drug-free workplace.”
The best care everywhere
A research corporation announced that the Cleveland Clinic Foundation is one of the nation’s top 126 hospitals, according to the 1999 Consumer Choice Award winners. Hospital consumers selected the clinic as one of those having the highest quality and image in 101 markets throughout the United States.
This is the fourth year National Research Corporation (NRC) has bestowed awards on hospitals. NRC President and CEO Michael Hays said the company expanded winning criteria this year to reflect composite scores on multiple quality and image ratings provided by consumers in NRC’s annual Healthcare Market Guide Study. Of the 2,500 hospitals rated by consumers, the winning 126 rank highest in their Metropolitan Statistical Areas, defined by the U.S. Census Bureau. The 1999 study surveyed more than 170,000 households representing more than 400,000 consumers in the contiguous 48 states and the District of Columbia.
Here’s to your health
According to Yahoo! News, Ohio’s Senate Finance Committee will recommend to the full Senate that the state’s share of the tobacco settlement be used for schools, research and health programs.
Some Republicans wanted to use the money for tax cuts. They claimed they had the votes to insert the tax cuts as an amendment to a bill being considered on how to divide the money. The amendment never surfaced, and Gov. Bob Taft’s aides say they do not expect it to be revived when the legislation reaches the Senate floor for a vote.