Smart Benefits: Survey Shows Annual Health Insurance Premiums Up 5%
Monday, October 08, 2018
Average premiums for covered workers in the Northeast are higher than the average premiums for workers in other regions for both single and family coverage.
Other findings from the survey, which looks at aspects of coverage such as premiums, employee contributions, and cost-sharing provisions among private and non-federal public employers with three or more workers, include:
- Fifty-seven percent of firms offer health benefits to at least some of their workers. The likelihood of offering health benefits, varies by size: only 47% of firms with three to nine workers offer coverage, while almost all with 1,000 or more workers do.
- Currently 85 percent of covered workers have a deductible, up from 81 percent last year. The average deductible is $1,573 for single coverage.
- Most employees contribute toward the cost of the premium for their coverage. On average, covered workers contribute 18% of the premium for single coverage and 29% of the premium for family coverage.
- PPOs are still the most common plan type, enrolling 49% of covered workers in 2018. Twenty-nine percent of covered workers are enrolled in a high-deductible plan with a savings option (HDHP/SO), 16% in an HMO, 6% in a POS plan.
- Sixty-one percent of covered workers, including 13% of covered workers in small firms and 81% in large firms, are enrolled in plans that are either partially or completely self-funded.
- Fifty-three percent of small firms and 82% of large firms offer a program in at least one of these areas: smoking cessation; weight management; and behavioral or lifestyle coaching.
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