Does it make sense to take the time and effort to revise the corporate health plan rather than just stand pat year to year? A study from PwC rather emphatically endorses making plan changes.
The consulting firm gathered data from 1,150 U.S. employers to produce its 2015 Health and Well-being Touchstone report. It sought information about plan design, cost and related issues.
When asked about cost increases between 2014 and 2015, those who simply offered the same package said they experienced about an 8 percent cost increase. Those who made design changes reported an average increase of 4.5 percent.
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Both of those increases were reflective of recent trends in plan cost escalation, PwC said.
The study revealed an array of trending information among these employers, including:
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A strong movement toward offering only a high deductible plan rather than a choice of plans, with 25 percent saying that was the only plan offered this year, and another 37 percent saying they intended to make that shift.
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Of the 83 percent that reported offering an HDHP as part of their package, 56 percent included a health savings account and 18 percent included a health reimbursement component.
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Strong membership growth occurred among the HDHPs, as the numbers rose by 31 percent year over year compared to 26 percent in the previous study.
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Medical plan options grew, from 3.6 plans per employer in the previous survey to 5.7 in the current one.
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Employers showed a strong preference for including wellness programs in their health benefits package, although participation rates continue to be unimpressive, at less than 30 percent on average.
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Private exchanges remain under scrutiny. While 28 percent said they would consider shifting employees to a private exchange, only 2 percent said they had already done so.
The full report can be found here.
Also read: Top 10 reasons you should implement wellness
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
