Compdata Surveys & Consulting Blog

Employers Try New Ways to Combat High Medical Insurance Costs

Posted by Amy Kaminski on Aug 28, 2013 12:13:08 PM

Kansas City, Kan. — Rising insurance costs are forcing employers to re-evaluate the benefit options offered to employees in an effort to reduce their bottom line. Recently, United Parcel Service (UPS) announced changes to their medical insurance plans that will end coverage for working spouses of UPS employees, beginning in 2014.

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Topics: Benefit News, News, Medical Insurance

For Many Employers, Employee Wellness is No Longer Merely an Option

Posted by Amy Kaminski on Apr 18, 2013 3:29:32 AM

Kansas City, Kan.— There have been a number of companies making headlines over the last year as details of various wellness initiatives have been leaked to the public. CVS Caremark being the latest, now requires each of their employees to receive health screenings to include weight, cholesterol, blood sugar and blood pressure, or face a $50 per month penalty on their health insurance premiums. Although some may tout these measures as being drastic, they are becoming increasingly common for employers looking to combat the rising cost of healthcare. In fact, the Compdata Surveys Benefits USA 2012/2013 survey results found 34 percent of employers offering wellness programs either provide insurance discounts for employees participating in wellness programs or impose penalties on employees with risk factors, who aren't taking action. That's up from just 25.4 percent in 2009.

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Topics: Benefit News, News, Benefits USA, wellness, Medical Insurance

Insurance Costs Continue Trending Upward for Hospitality Organizations

Posted by Amy Kaminski on Dec 6, 2012 2:39:22 AM

Kansas City, Kan.— It's no surprise that with a looming nursing shortage, obesity at epidemic levels and baby boomers entering their golden years that there isn't any foreseeable end in sight to the rising cost of healthcare. In fact, the 2012 Compensation Data Hospitality survey results reported the average annual cost of insurance per employee on a hospitality employer sponsored PPO plan is $6,380. That's up from $4,902 reported in 2009, an increase of 30.2 percent in three years.

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Topics: Benefit News, News, Hospitality, Medical Insurance

Insurance Costs Continue Trending Upward for Banking and Finance Organizations

Posted by Amy Kaminski on Nov 20, 2012 2:30:25 AM

Kansas City, Kan.— It's no surprise that with a looming nursing shortage, obesity at epidemic levels and baby boomers entering their golden years that there isn't any foreseeable end in sight to the rising cost of healthcare. In fact, the 2012 Compensation Data Banking & Finance survey results reported the average annual cost of insurance per employee on a banking and finance employer sponsored PPO plan is $7,887. That's up from $6,231 reported in 2009, an increase of 26.6 percent in three years.

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Topics: Banking & Finance, Benefit News, News, Medical Insurance

Manufacturers Struggle with Mounting Insurance Costs

Posted by Amy Kaminski on Nov 15, 2012 7:43:48 AM

Original Article: ThomasNet.com

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Topics: In the News, Benefit News, Manufacturing & Distribution, Medical Insurance

Flexible accounts to have new limit

Posted by Amy Kaminski on Nov 10, 2012 6:47:53 AM

Original Article: Grand Rapids Business Journal

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Topics: In the News, Benefit News, Medical Insurance

Insurance Costs Continue Trending Upward for Not-For-Profit Organizations

Posted by Amy Kaminski on Nov 8, 2012 2:24:42 AM

Kansas City, Kan.— It's no surprise that with a looming nursing shortage, obesity at epidemic levels and baby boomers entering their golden years that there isn't any foreseeable end in sight to the rising cost of healthcare. In fact, the 2012 Compensation Data Not-For-Profit survey results reported the average annual cost of insurance per employee on a not-for-profit employer sponsored PPO plan is $8,859. That's up from $7,543 reported in 2009, an increase of 17.4 percent in three years.

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Topics: Benefit News, News, Not-for-profit, Medical Insurance

Flexible Spending Accounts Face a Big Change in 2013

Posted by Amy Kaminski on Oct 30, 2012 3:22:22 AM

Kansas City, Kan.— Medical costs are continuing to soar, leaving many Americans clambering to find a way to alleviate some of the burden of expensive medical care, particularly procedures insurance doesn't fully cover. Many employers are providing assistance by offering flexible benefit programs, such as flexible spending accounts to their employees as a part of their benefit plan. The Benefits USA 2012/2013 survey results found 89.7 percent of companies offer a flexible spending account to their employees, with 23.6 percent of employees at these organizations enrolling in them.

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Topics: Benefit News, News, Benefits USA, Medical Insurance

Insurance Costs Continue Trending Upward for Manufacturing & Distribution Organizations

Posted by Amy Kaminski on Oct 18, 2012 3:31:33 AM

Kansas City, Kan.— It's no surprise that with a looming nursing shortage, obesity at epidemic levels and baby boomers entering their golden years that there isn't any foreseeable end in sight to the rising cost of healthcare. In fact, the 2012 Compensation Data Manufacturing & Distribution survey results reported the average annual cost of insurance per employee on a manufacturing and distribution employer sponsored PPO plan is $8,326. That's up from $7,227 reported in 2009, an increase of 15.2 percent in three years.

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Topics: Benefit News, News, Manufacturing & Distribution, Manufacturing, Medical Insurance

Not-For-Profit Employers Turn to Wellness Programs to Suppress Rising Costs

Posted by Amy Kaminski on Oct 9, 2012 3:27:14 AM

Kansas City, Kan.— In 2012, roughly two-thirds of not-for-profit employers experienced increases to their medical insurance premiums, according to the 2012 Compensation Data Not-For-Profit survey results. The average increase reported by these organizations was 8.6 percent, down from 9.9 percent reported in 2011 and 10.3 percent in 2010. Despite the drop in the average premium increase, not-for-profit organizations still contribute 10.6 percent of their total payroll costs toward providing medical insurance to their employees. Employers everywhere are looking for ways to curtail rising healthcare costs and as a result, many are turning to wellness programs.

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Topics: Benefit News, News, Not-for-profit, wellness, Medical Insurance

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