This past spring, the Office of Human Resources formed a Health Benefits Review Committee to initiate an in-depth study of Yale's current health care offerings.
The staff and faculty who comprise the committee are working with industry professionals to examine each of the five health plan options, the total premium cost to the University and employees, and the cost-sharing structure.
"Like many other employers today who -- along with their employees -- are grappling with the ever-rising cost of health care, Yale must carefully monitor the investment it is making in health care benefits and develop both short-term and long-term strategies for purchasing health care," says Rob Schwartz, who is chair of the Health Benefits Review Committee.
As part of the review, the committee will compare Yale's health plans to that of peer universities and the area's business community. "Yale is also committed to reviewing health care trends and initiatives, and keeping pace with current employer practices in the delivery of health care benefits," adds Schwartz.
In March, as the Health Benefits Review Committee was beginning its work, the University announced that faculty and managerial and professional (M&P) staff who currently pay for health care coverage would receive a temporary health care premium credit to help offset the cost of their coverage. This credit -- which varies according to the individual employee's salary level, choice of health care plan and coverage level -- will continue until the review committee has developed its long-term recommendations.
The assessment of Yale's health care benefits is just one part of the University-wide initiative to improve its business practices and services. In the letter to employees announcing the temporary health care benefit, Schwartz also announced improvements to the staff pension plan, changes allowing M&Ps to receive payment for unused bonus vacation time, an increase in the free life insurance provided to M&Ps and the extension of Yale's child scholarship benefit to students in full-time associate degree programs at community colleges.
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