Employee Benefits


To stave off double-digit increases in the cost of employee health plans, small and midsize companies cut benefits in 2003, according to a survey and analysis by Mercer Human Resource Consulting and Marsh Inc. ( www.marsh.com ). This held costs to an average of $6,130 per worker, up 9.8% since 2002. Companies with fewer than 50 employees limited their per capita costs to $5,795 by instituting provisions discouraging dependent coverage and imposing high deductibles. But businesses with 1,000 to 1,999 employees spent considerably more—$6,472—per worker, reflecting the challenge of competing for labor with larger employers that have greater purchasing power. The findings are based on responses from 1,904 employers.

SPONSORED REPORT

Get your clients ready for tax season

These year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.