AARP.org
Connect with the AARP Community, it's free. Log In Sign Up

Best Employers Program Honorees

Blue Cross Blue Shield Association

Winning year: 2007
Industry: Insurance
Location: Chicago, IL
URL: www.bcbs.com

Highlights of 2007 Winning Strategies

Blue Cross Blue Shield Association established a "Mature Employee Retention Program" in response to changing work force demographics. In the program, all employees age 55+ are automatically eligible for special tuition reimbursement benefits, in-house MBA program, discounted financial planning, free flu shots, pre-retirement workshops, "Lessons of Experience," and the "Fit Over 50" program.

Additional Policies and Practices:

  • Workplace Culture/Continued Opportunities: To its full- and part-time employees, Blue Cross Blue Shield Association (BCBSA) offers these learning and development programs: tuition reimbursement, in-house classroom training, on-line training, and certification classes. In the past 12 months, 100% of BCBSA employees participated in at least one of these training opportunities with an average of 26.6 hours spent in training. The company celebrates long-service anniversaries with announcements, group lunches/dinners with the CEO and key officers, plaques as well as monetary gifts. Workplace accommodations for those with special needs include purchasing specialized computer and telephone equipment for sight-impaired employees and paying for interpreters and sign classes for hearing-impaired employees.
  • Benefits/Health: BCBSA offers a Flexible Spending Account (FSA) plan to assist employees with out-of-pocket health care costs and makes contributions to employee Health Saving Accounts (HSAs). BCBSA offers a free health coaching service to all retirees and dependents through a third-party vendor,
  • Benefits/Financial: BCBSA offers a 401(k) plan (with company match) and a defined-benefit plan to its full- and part-time employees. Employees may invest in lifecycle funds, and employees 50+ can make catch-up contributions to their 401(k) retirement savings plan. Employees receive financial planning information from staff members, the firm that administers their 401(k), and external experts not associated with the 401(k). Individual financial planning with a half-price discount is offered to employees age 50+, and pre-retirement programs are tailored to employees age 40, 50, and 55+. BCBSA offers short-term time off and long-term leaves of absence without pay for caregiving. Employees are also offered paid time off for volunteer work with the Special Olympics. These wellness programs are offered to full- and part-time employees: flu shots, health screenings, health risk appraisals, health club discounts, physical activity/exercise programs, weight loss programs, Wellness Fairs, "Walking Works" walking program, and "Fit Over 50." Fifty percent of BCBSA employees have utilized at least one of these wellness benefits in the past 12 months. BCBSA offers referral services to assist with childcare and eldercare to its full- and part-time employees. BCBSA also offers a "Mother's Room," and "Health Dialogue" services and sponsors a "Take Your Children to Work" breakfast to all employees.
  • Benefits/Alternative Work Arrangements: Full- and part-time employees may participate in flex-time and telecommuting. Full-time employees are eligible to move to part-time work on a permanent and temporary basis. The organization currently plans to offer phased retirement options to employees, which will be piloted and implemented in 2007.
  • Opportunities for Retirees: BCBSA currently has 220 retirees and an individual directly responsible for retiree relations. The firm stays connected with its retirees by communicating regularly, inviting retirees to share their insights and learning with other retirees and current employees in the "Lessons of Experience" program, and formally acknowledging them when they retire. Temporary work assignments and consulting/contract work are among the work arrangements offered to retirees.
  • Age of Workforce: The average tenure of employees age 50+ is 12.5 years.

Top of Page