The state of employer health insurance: 8 statistics to know
The employer-based health insurance landscape has seen constant readjustment over the past decade, placing businesses at a critical crossroads.
Here are eight stats you should know:
- Out of 1,765 companies interrogates According to the Kaiser Family Foundation in 2020, 99% of large businesses offered benefits to at least some employees, while 55% of small businesses did. The overall rate of service provision was 56%.
- In an article by Stanford professor Alain Enthoven, PhD, he noted that more than two-thirds of workers use self-funded / insured arrangements.
- Premiums are on the rise, with annual coverage up 4% to $ 21,342.
- On average, employees pay $ 5,588 for employer-sponsored plans. Their average deductible is $ 1,644 for single coverage.
- Dues have increased faster than workers’ contributions since 2010. While average employee contributions have increased by more than $ 1,500 since 2010, contributions have increased by almost $ 6,000 at the same time.
- Large companies contribute much more to premiums than small companies, especially when it comes to family coverage. Large companies cover at least some of the premiums for family plans 99% of the time.
- Between 2015 and 2020, preferred supplier organization plans represent the highest percentage of registrations. Over the past five years, large corporations have seen a growth in high-deductible health plans with savings options, which have grown by 9%.
- With all the changes among employer sponsored insurance, its wide prevalence is declining. Since 1999, the percentage of businesses providing benefits (down 4 percentage points) as well as the percentage of workers whose employers provide benefits (down 10 percentage points) have declined.