Benefits Benchmark
Powerful Data Helps You Make Powerful Decisions
The Nyhart 2011 Indiana Health Care Survey: Cost and Design* was recently released, which showed that healthcare benefit costs in Indiana are above the national average. The survey included 215 Indiana-based employers offering more than 350 plan options to 170,000 employees.
Key findings include:
The survey revealed that employers are switching to higher deductible plans. In 2011, approximately 20 percent of employers increased the amount of the health plan deductible, resulting in an increase of 49 percent.
The cost increase was not shared equally between employers and employees. On average, the employer subsidy for single coverage increased by only 2% and actually decreased by nearly 1% for family coverage. Clearly employers have decided they could not continue to accept significant increases in their health plan costs.
Employees who have a family plan are paying more of the overall benefit cost. This continues to be a popular trend as employers look to transfer some of their increased costs to employees.
To learn more about what the changing benefit landscape means for your company, contact FirstPerson Advisor Paul Ashley.
*Nyhart conducted the 2011 survey in partnership with FirstPerson, Gregory & Appel Insurance, and Old National Insurance.