Benefits of Working for the Federal Government

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Benefits of Working for the Federal Government

Wellness Programs Reduce Medical Costs, Increase Productivity, and Reduce Absenteeism

In 2012, roughly two-thirds of manufacturing and distribution industry employers experienced increases to their medical insurance premiums, according to the 2012 Compensation Data Manufacturing & Distribution survey results. The average increase reported by these organizations was 10.2 percent, down from 11 percent reported in 2011. Despite the drop in the average premium increase, manufacturing and distribution organizations still contribute 10.5 percent of their total payroll costs toward providing medical insurance to their employees. Employers everywhere are looking for ways to curtail rising healthcare costs and as a result, many are turning to wellness programs.

For years, wellness programs have consisted of traditional options such as weight management, tobacco cessation programs or offering flu shots and immunizations. But over the last few years, some wellness options have shown a more accelerated rate of use. Biometric screenings, which measure an individual’s blood pressure, body mass index (BMI), cholesterol and blood glucose in an effort to identify risk factors, are a good example of this trend. In 2009, biometric screenings were offered at only 17.4 percent of manufacturing and distribution organizations surveyed, compared to 44.2 percent in 2012. Physical fitness facility access, on-site health clinics and offering rewards and incentives have also increased over the last few years. Continue Reading

Health Insurance Tips for College Students and their Parents

With students preparing to go off to college this fall, it would be wise for them to consider health insurance plans.  eHealthInsurance has prepared an updated series of health insurance tips for college students and their parents. Continue Reading

College Students and Recent Grads Concerned about Finances and more After Graduation

Those who don’t think that college students and recent graduates are concerned about their futures, think again.

According to a national survey sponsored by eHealthInsurance (NASDAQ: EHTH), this year’s college graduates are not likely to earn anywhere near as much as they think they need in order to be financially secure, and their expectations for getting employer-sponsored health insurance are unrealistic.

The survey, conducted in April 2012 by Kelton Research, found that this year’s college graduates may be in for a harsh reality check when they enter the job market. According to the survey:

• Today’s college students estimate that they will need to earn an average salary of $81,600 per year after graduation in order to feel financially secure; however, former college students who had graduated in the past three years said that their first job out of college paid only $21,900 per year on average
• More than eight-in-ten college students (82%) believe their first job out of college is likely to provide them with health insurance; however, nearly six-in-ten recent grads (59%) say that their first job out of college did not provide them with health insurance Continue Reading

Pros and Cons of Being an Independent Contractor

A poor economy has pushed some unemployed or underemployed Americans towards self-employment. For some, the opportunity to be their own boss may prove serendipitous, while others may find that the costs of not being an employee are unexpectedly high.

“The number of independent contractors has risen in sectors that people normally don’t associate that closely with the self-employed,” said Michelle Walker, the writer of the article, and an independent contractor herself. “Some of that increase is probably a natural result of the internet, and the growing convenience of doing business in other places besides an office. But some of it is also probably attributable to dynamics of the economy. People who are defined as ‘unemployable’ by the establishment may discover that finding their own work, through various projects, is a viable option.” But should this solution be a long-term one? CreditQ suggests that, while there are some financial advantages to being “a 1099” (particularly for those who can’t find work elsewhere), there are also drawbacks that not everyone is aware of. Continue Reading