Healthcare reform has been a hot topic in recent years, and has caused some significant changes for employers concerning prescription coverage. According to the 2012 Compensation Data Healthcare survey, 97 percent of participating healthcare organizations included prescription co-pays in the employee medical plan. Nearly 98 percent of health maintenance organizations (HMO) include a co-pay while 91 percent of high deductible health plans (HDHP) include a co-pay.
“Prescription costs are an important topic for employees and although they are expected to drop in the future, for some employees it will still be a challenge now,” said Amy Kaminski, director of marketing for Compdata Surveys, the nation's leading pay and benefits survey data provider.
Co-pays based on a percentage of cost have seen a wave of change in the last few years. In 2010, the average co-pay for generic prescriptions was 20.4 percent, rising to 23.8 percent last year. This year, the average co-pay dropped back to 20.4 percent for generic. HDHP plans have increased the percent of co-pay required by an employee since 2010. In 2012, the average prescription co-pay for generic was more than 22 percent, a significant increase from the average 16.9 percent co-pay in 2010.
Overall, the average co-pay dollar amount has remained similar since last year, sitting at $10.40 for generic and $29.80 for formulary prescriptions. In 2011, co-pay amounts averaged $10.60 for generic and $29 for formulary prescriptions. This year the majority of HMO plans, 85.2 percent, required prescription co-pay amounts based on a flat dollar amount. Fewer HDHP plans are offering prescription plans without co-pays for employees, with 38.8 percent in 2011 and 32 percent this year.
About the Survey
Compensation Data 2012 Healthcare surveyed more than 250 industry-specific job titles and 400 benchmark titles ranging from entry-level to top executives. Data was collected from more than 8,100 healthcare providers across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of January 1, 2012.
Compdata Surveys is the nation's leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For more information about our compensation and benefit surveys, contact Michelle Willis at (800) 300-9570.