PHONEIX — Expect to see a greater emphasis on wellness programs and employee healthcare education as credit unions, locked into their current healthcare plans, seek to keep claims down and prepare employees for potential changes.
That's the outlook from a number of credit unions that spoke with Credit Union Journal. Typical of many credit unions, the $3-billion Desert Schools FCU here regularly conducts employee wellness efforts and healthcare education, such as lunch-and-learns. But facing the costs for the corporate bailout as well as rising delinquencies, these programs could likely increase, shared Jennifer Godel, AVP of human resources and training and a member of CUNA's HR/Training & Development Council. "Now it's a matter of how can we step up our efforts here. But we have not made those decisions yet."
At the $305-million MaPS Credit Union in Salem, Ore., Barbara Cecil, director of HR, emphasized that her credit union will be looking to wellness programs that don't have a great deal of costs tied to them.
Looking to Wellness Programs
"Wellness programs can be expensive," she said. "So we try to find no-cost ways of offering them. For example, we do a 'biggest loser' contest here. We have a group of people who run from our main office to the coast. We have a softball team-just a lot of programs that focus on keeping our staff healthy."
In West Jordan, Utah, the $2.3-billion, Mountain America FCU has a number of wellness initiatives, like an onsite workout facility and activities, such as corporate games. But this year MAFCU is also placing greater emphasis on what all of the benefits, especially healthcare, are worth-down to the exact dollar amount. "This year we're giving employees a hidden paycheck as reminder about the value of their benefits," said Lynn Stephens, HR SVP.
The check will resemble a standard paycheck, bearing the employee's name and salary amount. But it will also list, line-by-line, the value of their healthcare benefits, retirement account, and vacation pay.
Employees Kept Informed
Helping employees understand the exact value of what they are receiving from benefits may prove beneficial if the credit union has to cut back on healthcare benefits down the road, CUs told Credit Union Journal. Barbara Cecil said MaPS has always educated employees about what makes premiums rise, "and they understand how they can play a role in keeping costs down. But we also tell them that we don't know how long we can cover costs at this level. They know the exercises we go through every year to find the most cost-effective solutions for the credit union and employees. We don't keep them in the dark about our decision making."
Keeping employees well informed about the CU's efforts to manage healthcare costs may be one of the most prudent things the credit union can do when it comes to managing costs today, advised Kent Streuling, VP of HR at the $4.5-billion America First CU and chair of CUNA's HR/Training & Development Council. "I try to have at least a two- to three-year plan so we know where we are going," said Streuling. "So when I stand up at open enrollment meetings each year in November I can say this is where we have been, this is what's happening, and this is what you can expect next year. And if I tell employees that we are going to a 90% plan, they won't fall flat on the floor. I'll have warned them."
