1199SEIU Benefit Funds Market Research Report

Company Overview

Name: 1199SEIU Benefit Funds

Mission: To provide a comprehensive range of benefits to healthcare workers and their families in order to improve their quality of life.

Founded: 1945

Founder: No information is available

Key People: Dr. Van H. Dunn, Chief Medical Officer (Note: The specific role of Dr. Dunn suggests a significant position within the organization; further key people are not listed.)

Headquartered: 498 Seventh Ave, New York, NY 10018

Number of Employees: No information is available

Revenue: Manages approximately $2.3 billion in healthcare costs (specific revenue is not mentioned)

Company Known For: Providing a robust package of benefits including hospital, medical, prescription, dental, vision, and quality-of-life benefits to over 450,000 members, retirees, and their families.

Products

Healthcare Benefits:

• Description: Comprehensive health benefits packages for members.

• Key Features: Hospital, medical, prescription, dental, vision, and quality-of-life benefits.

Pension and Retirement:

• Description: Monthly pension benefits for retired members.

• Key Features: Defined monthly benefits provided through three Pension Funds, managing over $16.8 billion in assets.

Training and Employment Programs:

• Description: Educational and job training opportunities for healthcare workers.

• Key Features: Supports over 40,000 workers annually across the healthcare industry, addressing occupational shortages with specific job training and academic support.

Child Care and Youth Services:

• Description: Programs to help members balance work and family responsibilities.

• Key Features: Affordable childcare, youth services, after-school, weekend, summer, and holiday camp programs, and educational programming like SAT and college prep courses.

Recent Developments

Recent Developments:

• Notable HIPAA breach involving Change Healthcare, a third-party vendor.

New Products / Features:

• Direct Deposit and ADP Wisely Pay Card for Pension Payments:

• Allows retirees to receive pension payments directly into their bank accounts or onto a reloadable prepaid card.

• Enhances payment security and convenience.

Partnerships:

• No new partnerships are noted.

Programs and Initiatives:

• Launch of the second season of the "Health Is the Key" podcast on January 1.

• Introduction of educational opportunities through the Joseph Tauber Scholarship Program and Anne Shore Sleep-Away Camps.

• Upcoming Cyber Safety Parent Workshop scheduled for February 10, 2025.

Community Engagement:

• Engagement through various member-oriented programs like Career Pathways Training Program providing no-cost training and educational opportunities.

The 1199SEIU Benefit Funds continue to evolve and expand their offerings to meet the changing needs of their members, standing out as a significant provider of comprehensive benefits in the healthcare sector.