IBI’s fourth survey of Chief Financial Officers (CFOs) investigates changes in health benefits since the passage of the Patient Protection and Affordable Care Act (ACA) in 2010 and explores the links among employers’ benefits decisions, their corporate culture and their stated benefits goals. The survey was completed by 345 CFOs and other senior finance executives—40% of whom reported their company’s revenues at more than $2 billion, placing them among the Fortune 1000.
The results clearly show that while CFOs are strongly cost conscious about benefits, helping employees manage their health and developing high-performing human capital are also important benefits goals. The salience of these goals—and the strength of an employer’s culture of health—sheds light on the benefits decisions that employers have made since the passage of the ACA and the changes they intend to make in the near future.
IBI and CFO Research Services (the research arm of CFO Publishing LLC) collaborated to develop and field the survey. IBI performed the analyses and drafted report.
- CFOs are deeply involved in decisions about their company’s health benefits.
- Cost-sharing with enrollees is on the rise since the passage of the ACA.
- Employers remain committed to programs that promote workforce health.
- Few CFOs foresee changing their health benefits strategy in the next three years.
- Controlling costs is only one of several goals for employers’ health benefits.
- Employers’ benefits goals shed light on actions taken since the passage of the ACA.
- Employers with a stronger culture of health show a greater commitment to health promotion efforts and less willingness to change their health benefits strategy.
- Employers that recognize how illness impacts productivity appear less likely to change their health benefits strategy.
- Improving measurement of benefits outcomes could strengthen the business case for workforce health.
Brian Gifford, Ph.D. – Director, Research & Measurement
Thomas Parry, Ph.D. – President
Kim Jinnett, Ph.D – Executive Vice President