Higher Ed Institutions Facing a Bottom-Line Squeeze Should Look at Their Health Benefits

Autor/in	McGrath, Cynthia E.
Titel	Higher Ed Institutions Facing a Bottom-Line Squeeze Should Look at Their Health Benefits
Quelle	In: New England Journal of Higher Education, (2020) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	1938-5978
Schlagwörter	Higher Education; Educational Finance; Access to Health Care; Health Insurance; Compensation (Remuneration); Budgets; Health Care Costs; Consortia; Massachusetts (Boston) + Suchen Sie Ihr Suchwort? Hochschulbildung; Hochschulsystem; Hochschulwesen; Bildungsfonds; Krankenversicherung; Abfindung; Kompensation; Lohnausgleich; Finanzhaushalt; Vereinigung
Abstract	Before COVID-19 entered our lives, colleges and universities were already facing enormous pressures on their bottom lines. Sixty percent of higher education institutions (HEIs) missed their fall 2019 enrollment goals, according to a recent "Chronicle of Higher Education" story. Changing demographics and drops in international enrollments are primary reasons. Moreover, the Great Recession of 2008-2013 caused a significant drop in the U.S. birthrate, leading to projected enrollment declines for the foreseeable future. To close the budget gap, many HEIs are developing student recruitment pipelines. However, colleges and universities should also look for cost-curbing strategies. Compensation and benefits comprise as much as two-thirds of an HEI's budget, and taking a hard look at health insurance costs for faculty, staff and family members is a winning tactic. In late 2006, the Boston Consortium, which brings together Boston-area colleges and universities to develop and implement cost-saving and quality-improvement ideas, gathered a group of chief financial and chief HR officers to find out how to slow health insurance cost increases. Fast forward to 2013, and the results of those efforts, in collaboration with other college and university groups, was the formation of edHEALTH, a healthcare purchasing consortium of HEIs. (ERIC).
Anmerkungen	New England Board of Higher Education. 45 Temple Place, Boston, MA 02111. Tel: 617-357-9620; Fax: 617-338-1577; e-mail: nejhe@nebhe.org; Web site: https://nebhe.org/nejhe/
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01