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Rising health-care costs are prompting more employers to becomeinvolved in helping employees manage and take responsibility fortheir own health. A survey of 1,050 major U.S. employers by HewittAssociates LLC, a management consulting firm in Lincolnshire,Illinois, found 88 percent of major employers have introduced someform of health management program to promote health, preventunnecessary risk or intervene in the early stages of disease. Thestudy found health management programs typically include at leastone of the following:
- Education and training. New approaches to education andtraining might include individual counseling on treatmentcompliance (for diabetes or asthma, for example) or lifestylehabits that contribute to chronic or acute conditions.
- Health risk assessments. These include medical testssuch as cholesterol or blood pressure checks.
- Financial incentives and disincentives. Incentives rangefrom reimbursing employees for participating in smoking cessationor weight-control programs to monetary rewards for taking part inhealth-risk appraisal or fitness programs. Disincentives, whichhelp pay for added costs associated with poor health habits,include charging employees who use tobacco higher medical or lifeinsurance premiums.
Final Payoff
Business bankruptcies are often lengthy, complicated proceduresthat can take years to settle. If you are a creditor in abankruptcy, don't assume you'll never see your money; stayin touch with the bankruptcy trustee until the final distributionis made.
This is especially important if you move. "It's yourresponsibility to make sure the court has a current address,"says Wanda Borges, a New Hyde Park, New York, attorney and memberof the Commercial Law League of America, a creditors' rightsorganization.
The payoff could be substantial. "Every once in a while atrustee will find hidden assets," Borges says. "It couldbe two years later, and suddenly a zero-asset case will yield a45-cent [on the dollar] distribution." If creditors can'tbe found, the funds are simply deposited into the U.S. Treasury asunclaimed.
To notify the trustee of a change in your address, simply send aletter to the trustee and the appropriate court's clerk, andask for an acknowledgment. It then becomes the trustee'sresponsibility to see that you get your share when the bankruptcyis settled.
Self-Defense
If you've ever had an employee conflict escalate into aphysical confrontation, you know firsthand that the serious socialproblem of on-the-job violence also poses a significant threat tocompanies unprepared to deal with its financial implications. Tohelp, Cigna International has introduced insurance covering bothvictims of workplace violence and their employers.
"Homicide is the second leading cause of death in theAmerican workplace," says David Samuel of Cigna Internationalin Chicago. In addition, Cigna researchers have determined thatmore than 1 million employees nationwide were attacked at work in1994. The aggregate cost of workplace violence in the United Statesis about $4.2 billion annually.
Cigna's policy reimburses the employer for loss of businessincome and for public relations expenses required to restore thecompany's image after an incident of violence occurs on companyproperty. It also covers the victim's medical expenses andsalary if he or she is unable to work after an assault, covers thecost of temporary replacement employees, pays for temporarysecurity measures, reimburses victims, witnesses and otherco-workers for counseling, and more.
"[Violent] incidents are not restricted to large,multinational corporations," says Samuel. "In fact, mostincidents occur in smaller companies."
For more information, contact your local insurance broker, orcall Cigna International at (800) 950-6164.
Contact Sources
Wanda Borges, c/o Teitelbaum, Braverman & Borges,(516) 365-3838, fax: (516) 365-3261;
Cigna International, 525 W. Monroe, #1900, Chicago, IL60661, fax: (312) 648-7595;
Hewitt Associates LLC, 100 Half Day Rd., Lincolnshire, IL60069, (847) 295-5000.
Jacquelyn Lynn is a business writer in Winter Park,Florida.
