Plan sponsors, brokers focus on cost management

Controlling benefits-related costs will be critical for most companies over the next five years, according to a new report from the Prudential Insurance Company of America. Plan sponsors need help from benefits brokers and consultants to maintain a competitive benefits program while identifying opportunities for greater efficiency and cost saving.

“Expertise is Essential,” a companion report to the “Study of Employee Benefits: 2009 & Beyond” shows that more than eight in 10 plan sponsors say they use a broker and/or consultant for assistance with their employee benefits programs. Of the 17 percent that don’t, 11 percent expect to begin working with an intermediary in the next five years.