Health insurance costs in 2014 increased as much as 5% for 24% of survey participants and from 6-10% for 26%. The cost increase was 11-15% for 12% and 16-20% for 6%, though 2014 costs stayed the same for 10%.
The steps employers took to reduce their organizations’ 2014 health insurance costs included:
- Raising the employee portion of the premium — 37%
- Implementing wellness programs — 25%
- Raising employee deductibles — 33%
Some employers offered HSA/HRA high deductible plans (21%) and/or raised employee copayments (22%). “Other” accounting for 29% of the responses to this question in the survey, included renegotiating with provider, shopping for new provider, and converting to a self-insured program.
The survey covered a lot more including:
- 2014 vs. 2013
- Plan options
- Dependent coverage
- Plan changes
- Healthcare reform
For a peek at the complete survey, go to http://compensation.blr.com/surveys/Benefits-Health-Insurance-2014/