Boston College has announced that there will be no increase in health and dental insurance rates for University employees in the coming year, bucking a national trend among private employers.
Vice President for Human Resources David Trainor said the freeze in health and dental rates is the result of a commitment of BC faculty and staff to their own health and well-being, through participation in such programs as HEALTHY YOU, which has stabilized healthcare expenditures for the University’s 3,200 employees. He also credited the change in the way in which the University administers prescription drugs as a factor in the significant cost savings this year.
“As a self-insured entity, Boston College pays the majority of health and dental care costs for its employees,” said Trainor. “When our costs increase, we have no choice but to raise rates. When we have a good year regarding employee health costs, we want to share the rewards with our employees.”
Trainor praised BC’s Finance and Human Resources staff and their successful management of BC’s health and wellness plans in helping to maintain current rates, noting that zero percent increases in insurance rates are “pretty unusual” among colleges and universities. According to Towers Watson & Co., a leading global human resources consulting firm, health insurance rates among private employers are increasing by 5.5 to 6 percent this year.
“We encourage all of our employees to take care of their health and to participate in our HEALTHY YOU events, ranging from the popular Walk Across Campus program to yoga and Zumba classes offered through the Flynn Recreation Complex, as well as our increased well-being offerings including programs on dealing with aging parents, financial preparedness, and meditation,” said Trainor. “Helping faculty and staff to pursue healthy lifestyles benefits employees, their families and the University community as a whole. We are grateful for the efforts of our faculty and staff and hope these successes will be replicated in the years to come.”