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Home » CUs Struggle with Rising Health-Care Costs
Human Resources

CUs Struggle with Rising Health-Care Costs

Small CUs in particular find it difficult to provide group insurance.

January 20, 2015
Craig Sauer
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CUs Struggle with Rising Health-Care Costs

Rising health-care costs are taking a toll on the ability of some credit unions—particularly smaller organizations—to provide group health insurance, CUNA’s E-Scan reports.

The overall prevalence of some other major benefits also declined slightly, according to CUNA's 2014-2015 Staff Benefits Report.

“Generally speaking, modest declines for various benefits are more apt to be found among credit unions with less than $100 million in assets than among their larger counterparts,” the report says.

Here's a breakdown of the benefits credit unions overall offer their employees:

• Wellness: 15% offer programs to encourage good health practices.
• Health care: 79% offer some form of group health insurance.
• Retirement: 87% offer some form of retirement plan.
• Paid leave: 97% offer paid leave.

Credit unions budgeted an average of about $575,000 for staff benefits expenses. The average expense per full-time employee is roughly $12,750.

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KEYWORDS benefits credit union E-Scan health care
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