What % Inc. in Health Insurance

jmcaa · August 2004

I'm trying to find out what the estimated price increase for health insurance is this year/next year. If you have already renewed your health insurance could you tell me what percentage increase you had, self or fully insured.

Thank you!

System · August 2004

Our renewal date was July 1. We deal direct with the carrier (no broker) and received a 'pass' this year - no increase. Prior years averaged 12 %.

This year, I could not seem to get experience reports from them. I told them I was going to get a broker to do the shopping for me because I didn't believe we should have an increase at all. And, by golly, they gave us a pass to keep a broker out of the loop.

bsa · August 2004

My insurance renewed in May. They quoted us a 19% increase. My broker and I didn't like that, so we asked for 15% increase and got it! Made me wonder if we could have gotten less???

Beave · August 2004

We deal direct with the carrier (no broker) and were told that when we get our rates in about a month to expect about a 15% increase for 2005.

lorrie · August 2004

We have been fortunate the past few years, but we are self-insured (with re-insurance after $30,000) and we had a really bad year this past year. Our recommended funding increase came in at 32%. The company is implementing a 22% increase in total funding with the employee's share as follows:

Hourly employees: Single rate increases from $40 to $60, and family rate increases from $308 to $378.

Management employees: Single rate increases from $30 to $60, and family rate increases from $70 to $160.

I am also interested in what other company increases have been recently, and also what monthly rates are charged to the employees.

Beave · August 2004

Our employees currently pay 5% of premiums. Starting January 1, most will pay 10% of premiums. This will affect 220 employees. Hope that helps some.

jmcaa · August 2004

Our employees pay 33% of the cost. We are self-insured also. Our employees pay $104 per month for Single and $279.50 for Family.

How many employees do you have in your self-insured plan?

lorrie · August 2004

We have about 155 employees with an average of 135 in the health insurance plan.

Dutch2 · August 2004

We also self insure with a specific deductibe of $30k. We have approx. 100 employees on the health care plan. At present the company pays 100% of all employee insurance premiums: health, dental, vision, life insurance, disability, etc. and 50% of the dependent premium costs for each plan. We were very lucky and had a very good year in 2004, (so far). Our Pharmacy plan is 100% self funded except for the co-pays. At this time, we do not anticipate increasing our rates for 2005; this has not always been the case.
Dutch2

lorrie · August 2004

Do you use a TPA? We use Gallagher Benefit Administrators. Do you mind sharing what your funding rate is? For the new plan year (our renewal is 9-1-04) our funding rate is $325 per month for a single plan, and $938 per month for a family plan.

It has been a few years since we looked at a fully-insured rate for our plan. At that time we were still a little better to stay with the self-funding. I don't know how that would look now, but I hear so much talk of increased rates that I doubt it will look much better.

Dutch2 · September 2004

Lorrie,
Yes we use a TPA, BMI-Health Plans out of Bartlesville, OK. They have been wonderful to work with. They have stepped up to help us out on more than one occassion.
Funding: We, the employer fund the plan (monthly)as follows: ee only $322.35, family $586.26, spouse $473.03, and child(ren) $435.27. In addition to the company funding the ee's pay for dependent care (per month) as follows: ee only $0.00, family $260.15, spouse $148.57 and child(ren) $111.32. Total monthly funding: ee only $322.35, family $846.41, spouse $621.60 and child(ren)$546.59. This also includes the companies portion of the phramacy cost. Currently the company is paying approximately 60% of the total pharmacy cost and the ee's pay the remaining 40% via their co-pays.
I hope this is helpful to you.
Dutch2

E Wart · September 2004

We are self insured as well. We were able to change a few benefits (increase the out of pocket and a deductible) and keep the rates the same for this year. (April renewal.) OUr re-insurance is $70,000 this year (I think without looking it up. We increased it $5,000 this year as well.
Total no. employees is 217. Total no of participants 174. Employees pay 25% of projected costs which is $21/$46/$54 per week. (single/ee+1/family). This includes medical and dental coverage.
E Wart

marc · August 2004

I am a little late to this party, but our company just got our new quotes in with just a 3% increase x:7. Due in part to the success of our in-house wellness efforts and in part to the entry of a new player in our market. Anthem is apparently trying to buy business in our area and our carrier is reacting to their competition and keeping increases at a minimum. We require mandatory participation for the EE and pay 100% of that cost. Any family add-ons are up to the EE.

seeleyhr · August 2004

Just got ours and was across the board in all 3 plans at 18.3%.

SMace · August 2004

jmcaa

How did you do with your Asheville network search. I emailed you my phone number. If you need to talk don't hesitate to call. I can really give you insight to the area.

Frenchie · August 2004

Our renewal date is 9/1. We are a self funded plan with 84 employees. Our increase was 30% (last year was a bad year)however, we are implementing an HRA and with that change our net increase will be about 8%. Our employees pay 16% of the premium for single coverage and 26% for family.

lorrie · August 2004

I would love to hear an update on how well the HRA idea is accepted by the employees. We considered the HSA, but we currently have a $200 deductible, and felt that it would be too big of a jump at once to go to the high deductible required by an HSA. I have not read as much about the HRA, but would appreciate any information about how well it actually works out for your employees.

SMace · August 2004

One could argue that your increase is still going to be 30%. Your just shifting the cost (the higher deductible) to your employees. It will save you only in the short run unless your ee's get healthier. Keep us posted as to how it works out.

TN HR · August 2004

We have approx. 450 eligible EE's with about 88% participation. The company pays 80% of the premium straight across the board (single all the way to family coverage).

Plan year runs 10/1/04-9/30/05 and we just locked-in an 8% rate increase. I think we could have done better but for some bad experience this past year.

Gene

What % Inc. in Health Insurance

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