Premium costs remain high for insurance employers, according to The 2011 Compensation Data Insurance survey released Tuesday.
Roughly 70 percent of insurance employers pay more than $7,200 for an employee plus spouse plan. Sixty-two percent of survey respondents report paying more than $7,200 in premium costs for an employee plus children plan. Employee only plans cost employers between $2,400 and $7,200 per year.
"The rising cost of insurance premiums is something that continues to be an issue for employers," said Amy Kaminski, director of marketing for Compdata Surveys. "To counteract these rising costs, organizations have to look in different directions in order to continue providing quality coverage for their employees."
Recommended For You
One way to reduce costs is through the type of plan offered. More companies are beginning to offer a high deductible health plan (HDHP) to employees. In 2011, 41.9 percent of insurance organizations reported offering HDHPs compared to just 29 percent in 2009. The most prevalent coverage offered among organizations is a PPO plan, offered at a rate of 83.4 percent. HMO plans are the third most common, offered by 25.3 percent of respondents
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
