Constructor - May/June 2014 - (Page 13)

CEO'S LETTER The AGC Alternative: A New Way to Save Money on Health Care Costs BY STEPHEN E. SANDHERR AGC CEO While we can't lower the price of concrete and asphalt, turns out we might be able to save members when it comes to the cost of providing health benefits for their employees. WHEN WE CONDUCTED OUR annual Construction Hiring and Business Outlook survey at the beginning of the year, one of the findings that struck us was how many members reported they were expecting to pay more to provide health insurance in 2014 compared to last year. Ninety-five percent of firms reported they plan to pay more to cover their employees this year. Meanwhile, the vast majority of respondents reported being squeezed by rising materials and labor costs and stagnant prices for the services they provide. While we can't lower the price of concrete and asphalt, turns out we might be able to save members when it comes to the cost of providing health benefits for their employees. That is because we are planning to launch a new private insurance exchange in cooperation with Willis North America. The new exchange, called "The AGC Alternative," is anticipated to be live this summer and will allow member firms to deliver better health insurance and related benefits to their employees at a lower cost, officials added. The new private exchange should reduce costs and the administrative burden of providing insurance benefits. And because the exchange will offer a broader range of options than typically available to individual firms, employers and their employees will get more of the benefits that meet their particular needs. The new exchange will also make it easier for firms to comply with the Affordable Care Act requirements. And, unlike many public exchanges, the new private exchange will also provide employees with the guidance and support they need to make good decisions. To be clear, we still have a lot of work to do before the exchange can become a reality, including securing a national insurance provider. But once the AGC Alternative is ready, each member firm will be able to set up its own private company benefits exchange site for employees. Participating firms will then provide a stipend to their employees, who will use those funds to shop for health insurance and other benefits offered through the exchange. Once we put all the pieces together, we will have much more information to share with you. But in the meantime, please feel free to visit http://www.agc.org/ exchange to find out a bit more about what we are planning on doing with the exchange and to add your firm's name to a list of ones that might be interested in using the AGC Alternative. ◆ MA Y / J U N E 2 0 1 4 | www.constructormagazine.com 13 http://www.agc.org/ http://www.constructormagazine.com

Table of Contents for the Digital Edition of Constructor - May/June 2014

Editor’s Note
President’s Message
CEO’s Letter
Labor Pains
Immigration Reform: Good for the Industry, Good for the Economy
2014 Alliant Build America and AGC in the Community Awards
From Here to There
Simonson Says
AGC in Action
Technology Toolbox
2014 Equipment Directory
Index to Advertisers
Final Inspection

Constructor - May/June 2014

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