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Health benefits role in recruiting

Biz Journal Fast 50 Diary, by Ed Stych

Health insurance continues to cause headaches for Twin Cities business owners and CEOs.

They hold their breath as they open envelopes revealing annual renewal rates, and struggle to understand the details of changing plan offerings and government regulations.

We wanted to see how some of the Twin Cities’ most successful companies were dealing with health insurance, so we asked the 2011 Minneapolis/St. Paul Business Journal (MSPBJ)Fast 50 companies about what they offer — or in some cases, don’t offer — and how important it is to attracting top talent.

Rank No. 11 (Fast 50, 2011)

The Nerdery

Headquarters: Bloomington 
Business: Builds websites and social-media tools.
Answering: Mike Derheim, CEO

MSPBJ: What kind of health insurance do you offer employees?

Derheim: The Nerdery has two company-sponsored options through HealthPartners Inc.: a traditional co-pay plan and a high-deductible health savings account (HSA) plan. We cover two-thirds of the premium cost per employee.

MSPBJ: How have you recently changed how you deal with health insurance?

Derheim: A few years ago we added our high-deductible plan as a second option because we have a lot of young, single people who favor an HSA, whereas people with families tend to stick with the more traditional plan. This year, we got a better deal on vision and dental coverage by moving away from separate carriers and consolidating under one. We are evaluating self-insuring, given our continuing growth.

MSPBJ: How important is health insurance to attracting and retaining the best employees?

Derheim: It’s hugely important. Our vision is to “be the best place in the world for Web nerds to work,” but there are so many elements beyond insurance that go into making The Nerdery the obvious destination for nerds. To us, health insurance seems like more of a basic need — a given — almost like, “Of course, but what else?”


 

 

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Media Contact

Mark Malmberg
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Office: (952) 948.1211 x1069
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