Compdata Surveys & Consulting Blog

Hospitality Employers Scramble to Find Relief on Prescription Costs

Posted by Amy Kaminski on Oct 2, 2012 3:17:57 AM

Kansas City, Kan.— According to the Kaiser Family Foundation, Americans filled more than 3.7 billion prescriptions in 2010. Because the rate at which individuals developing chronic health conditions continues to increase, the expected decline in drug costs comes as little comfort to hospitality employers who are largely footing the bill, as an overwhelming majority still offer prescription coverage to employees as a part of their medical plan. These increasing costs translate to higher premiums for employers and employees, as well as increasing co-pays.

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Topics: Prescription Costs, Benefit News, News, Hospitality, Medical Insurance

Insurance Costs Continue Trending Upward for Utilities Organizations

Posted by Amy Kaminski on Sep 25, 2012 7:45:49 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 Utilities survey results reported the average annual cost of insurance per employee on a utilities employer sponsored PPO plan is $8,602. That's up from $8,131 reported in 2010, an increase of 5.8 percent in two years.

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Topics: Utilities, Benefit News, News, Medical Insurance

Medical Insurance Costs Remain High for Hospitality Employers

Posted by Amy Kaminski on Sep 25, 2012 3:48:53 AM

The newly released 2012 Compensation Data Hospitality survey results show medical insurance premiums have increased by an average of 8.4 percent over the last year. This is a smaller increase compared to 2011 where the average premium increase reported was 9.3 percent. This year, PPO plans had one of the largest increases at 9.1 percent.

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Topics: dataLink, Hospitality, Medical Insurance

Medical Insurance Costs Remain High for Not-For-Profit Employers

Posted by Amy Kaminski on Sep 20, 2012 5:24:17 AM

The 2012 Compensation Data Not-For-Profit survey results show medical insurance premiums have increased by an average of 8.6 percent over the last year. This is down from 2011, where the average premium increase reported was 9.9 percent. This year, HMO plans had one of the largest increases at 8.8 percent.

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Topics: dataLink, Not-for-profit, Medical Insurance

Manufacturing & Distribution Employers Turn to Wellness Programs to Suppress Rising Costs

Posted by Amy Kaminski on Sep 19, 2012 4:17:46 AM

Kansas City, Kan.— In 2012, roughly two-thirds of manufacturing and distribution industry employers experienced increases to their medical insurance premiums, according to the 2012 Compensation Data Manufacturing & Distribution survey results. The average increase reported by these organizations was 10.2 percent, down from 11 percent reported in 2011. Despite the drop in the average premium increase, manufacturing and distribution organizations still contribute 10.5 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, Manufacturing, wellness, Medical Insurance

Medical Insurance Costs Remain High for Banking & Finance Employers

Posted by Amy Kaminski on Sep 19, 2012 3:21:02 AM

The newly released 2012 Compensation Data Banking & Finance survey results show medical insurance premiums have increased by an average of 8.4 percent over the last year. This is down from 2011, where the average premium increase reported was 9.6 percent. This year, PPO plans had one of the largest increases at 9.9 percent.

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Topics: dataLink, Banking & Finance, Medical Insurance

Banking & Finance Employers Scramble to Find Relief on Prescription Costs

Posted by Amy Kaminski on Sep 17, 2012 3:43:07 AM

Kansas City, Kan.— According to the Kaiser Family Foundation, Americans filled more than 3.7 billion prescriptions in 2010. Because the rate at which individuals developing chronic health conditions continues to increase, the expected decline in drug costs comes as little comfort to banking and finance employers who are largely footing the bill, as an overwhelming majority still offer prescription coverage to employees as a part of their medical plan. These increasing costs translate to higher premiums for employers and employees, as well as increasing co-pays.

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

Insurance Costs Remain High for Services Organizations

Posted by Amy Kaminski on Sep 13, 2012 3:18:01 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 Services survey results reported the average annual cost of insurance per employee on a services employer sponsored PPO plan is $7,414.

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Topics: Benefit News, Services, News, Medical Insurance

Insurance Employers Seek Healthcare Cost Containment

Posted by Amy Kaminski on Sep 11, 2012 11:45:56 AM

With the costs of medical insurance regularly increasing, insurance employers look to other means in order to control costs. According to the 2012 Compensation Data Insurance survey results, the most common of those options is coordination of benefits at more than 90 percent. Pre-existing condition clauses showed the largest increase at 40.5 percent, up from 36.9 percent in 2011.

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Topics: dataLink, Insurance, Medical Insurance

Not-For-Profit Employers Scramble to Find Relief on Prescription Costs

Posted by Amy Kaminski on Sep 6, 2012 3:16:45 AM

Kansas City, Kan.— According to the Kaiser Family Foundation, Americans filled more than 3.7 billion prescriptions in 2010. Because the rate at which individuals developing chronic health conditions continues to increase, the expected decline in drug costs comes as little comfort to not-for-profit employers who are largely footing the bill, as an overwhelming majority still offer prescription coverage to employees as a part of their medical plan. These increasing costs translate to higher premiums for employers and employees, as well as increasing co-pays.

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

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