New research has found that 1 out of every 10 dollars companies spend on payroll goes to pay for healthcare benefits – and that number’s climbing. How are companies coping?
For those wanting to keep their current coverage, there are only a few options:
- Adjust employees’ cost-sharing requirements
- Reel in costs, or
- Providing wellness programs to improve employees’ health.
Here’s what employees are doing within those three areas, according to Benefits USA’s 2010/2011 survey of nearly 4,500 benefits plans covering more than six million employees.
Workers’ expenses are sure to rise as employers rely more heavily on these tactics:
- Increasing employees’ portions of insurance premiums (58%)
- Increasing deductibles (45.6%)
- Increasing employees’ co-insurance levels (27.6%), and
- Offering a choice of deductible levels (22.1%).
Reeling in costs
Some of the most effective ways employees have found to contain coverage costs include:
- Coordinating benefits (83.8)
- Reviewing utilization (59%)
- Employing disease management programs (58.6%), and
- Requiring a second surgical opinion (13.1%).
Providing wellness programs
Some of the most popular features of today’s wellness programs are:
- Flu shots (89.9%)
- Health risk assessments (56%)
- Smoking cessation programs (55.2%)
- Annual physicals (45%), and
- On-site health clinics (14.1%).