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Saint Mary’s College Employee Benefits Advisory Committee (EBAC)

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Presentation on theme: "Saint Mary’s College Employee Benefits Advisory Committee (EBAC)"— Presentation transcript:

1 Saint Mary’s College Employee Benefits Advisory Committee (EBAC)
Spring 2013 Meeting #2 April 19, 2013

2 Findings and Discussion
6/11/2018 EBAC Meeting #2 – Spring 2013 Dependent Care Study Findings and Discussion April 19, 2013

3 6/11/2018 EBAC Meeting #2 – Spring 2013 Bright Horizons was retained to consult and advise on whether the college should provide or sponsor some type dependent care program for faculty or staff. Their process: Objective to answer two questions: Is there demand for a campus child care center? Is there demand for dependent back-up care services? These questions were answered via: Stakeholder interviews Demographic analysis of faculty, staff, and students Geographic analysis of faculty, staff, and students Child care market overview April 19, 2013

4 EBAC Meeting #2 – Spring 2013 Major Dependent Care Study Findings:
6/11/2018 EBAC Meeting #2 – Spring 2013 Major Dependent Care Study Findings: An on site child care center was determined to not be viable because: - There is no space - Finances are not available A back-up dependent care program was identified as something that was of interest and viable to the college April 19, 2013

5 6/11/2018 EBAC Meeting #2 – Spring 2013 Bright Horizons provides the back-up dependent care program: Turnkey program for Saint Mary’s College Named account manager Extensive support during program implementation Wide range of employee communication materials Comprehensive usage reporting capabilities Program elements are customized based on Saint Mary’s College’s needs All faculty and staff have specified annual use allowance Minimal employee co-payment Fixed annual fee based on expected stabilized utilization April 19, 2013

6 Projected Annual Utilization
6/11/2018 EBAC Meeting #2 – Spring 2013 Program Components Program Components Projected Annual Utilization Program Cost 15 annual uses per employee 148 uses per year $50,000 annual fee with reduced co-pays Start-Up Fee $5,000 one-time fee includes: Communications development plan, including webinars or on-site events Website and collateral development Network preparation Assumptions: Based on Saint Mary’s 497 faculty and 444 staff (941 users) Co-pays: Center $15/child and $25/family per day; In-home $4/hour with 4 hour minimum (reduced in-home co-pay from standard $6/hour based on staff affordability challenges) Minimum contract 3 years 5% increase in program cost per year April 19, 2013

7 6/11/2018 EBAC Meeting #2 – Spring 2013 Dependent Care Study Findings Discussion: -Does the EBAC endorse some or all of the findings of the report? -How should the EBAC share the findings with the campus community? Should the college pursue developing a program as outlined by Bright Horizons? -Will employees find this useful ? Will they utilize the back-up dependent care benefit? - Is the estimated cost ($162,625 over 3 years) reasonable for the potential benefit received ? April 19, 2013


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