Archived Insight | October 30, 2018

2018 College and University Benefits Study

How competitive are your institutions benefits?

Benefits play a key role in colleges’ and universities’ constant quest to attract and retain top talent.

The 2018 College and University Benefits Study (CUBS) covers the offerings of more than 450 private and public institutions.

Identify the benefits which you could add, change or better promote to stay competitive.

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Report highlights: health care

On health plans, the report noted:

the percentage of institutions that offer high-deductible health plans (HDHPs), which increased explosively over two years
offerings of wellness initiatives, and
growth in two prescription drug cost-management programs: mandatory generics programs and mandatory mail-order drug programs.

Report highlights: retirement

CUBs showed a movement toward account-based defined contribution (DC) health plans for new hires.

It also notes that between 2015 and 2017, the percentage of DC retirement plans did not change.

Nor did the median institution contribution.

The last set of data covers consolidation of DC retirement plan administration vendors.

Report highlights: non-traditional benefits

The report also illustrates the percentage of institutions that offer:

access to campus fitness centers
long-term care insurance
day-care/eldercare referral services
group home and auto insurance
on-site day-care/eldercare (or reimbursement), and
general or local business discounts for shopping.

Questions? Contact us

The CUBS report doesn’t cover all of the information in Segal's extensive database of benefits offered by higher education institutions.

We can provide custom data reports, including:

Comparisons among benefit designs
Geographic regions
Institution type
Institution size
Number of full-time faculty
Number of undergraduate or graduate students, and
Operating budget and/or endowment.

For more information about how our college and university database can help you, get in touch.

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This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.