HELP! Need feedback ASAP
Parabeagle
3,085 Posts
After years of paying 100% premium for employee medical coverage, our company is now exploring the possibility of having employees subsidize a portion of their single-coverage premium. My question is: For those of you who require the employee to pay a portion of their premium, what percentage do they contribute? 10%? 20%? Some other number? We pay nothing toward dependent coverage.
Any feedback you can give me would be GREATLY appreciated. I need to get this information to the boss ASAP as I'm off on a road trip and will be out the remainder of the week beginning tomorrow morning.
Thanks a lot!
Any feedback you can give me would be GREATLY appreciated. I need to get this information to the boss ASAP as I'm off on a road trip and will be out the remainder of the week beginning tomorrow morning.
Thanks a lot!
Comments
Good luck
HMO-Employees pay 20% for individual coverage and 25% if they want family coverage
PPO-Employees pay 30% for individual or family
We also offer part-timers (20 hours) coverage. The employee pays 50%.
We offer two medical plans. We combine the rates, and the Company pays 70% of the combined rate (rounded up/down to an even dollar figure). Then, the employee pays the difference. Based on the variance in the actual rates, for one plan the employee pays 34% of premium, for the other 26% of premium. This insures that the Company does not favor one plan over the other. Good Luck.
Our HMO plan EE .075% Employer portion .0925%
Employee and Spouse- 45% employee employer portion 55%
Employee and Child(ren)-45% employee employer portion 55%
Family 47% employee employer portion 53%
Our POS Plan EE .15% Employer portion .85%
Employee and Spouse- 49% employee employer portion 51%
Employee and Child(ren)-50% employee employer portion 50%
Family 51% employee employer portion 49%
Our Dental Plan 100% employer contributed for employees only.
We charge for dependents.
Employee and spouse 48% employee employer portion 52%
Employee and Child(ren) 49% employee employer portion 51%
Family 65% employee employer portion 35%
Hope this helps.
Employee cost for:
Family is $73.00 per month
Single is $30.00
Employee + Children is $71.00
Employee + Spouse is $71.00
I am a firm believer in sharing with ee's exactly why more will be assessed to them. The monies contributed by the ee are tax sheltered (if your company has a Section 125 plan), so they get a small break there. Consider one prescription cost of $168.00 vs a $30 co-pay (if your plan has a drug card)...add several prescriptions or doctor visits and see exactly what benefit the ee enjoys (not a good word, but the only thing that comes to mind). Our agency will probably have to assess a portion to the ee's this next year, which will probably be 20% or the agency will take the stance of the dental plan approach and pay a flat rate with the ee paying the balance. The agency will assess the lesser amount to the ee. Good luck - communication is key.
We are a self insured company with about 215 employees (in 7 states),180 of which are under our insurance plan. We have a PPO medical plan, that I feel is quite good and a dental reimbursement plan which isn't quite as good, but very simple.
We have an acuary calculate our total premium (obviously including the administrative costs, the project claim costs and the specific and aggregate stop loss premiums, etc.) We offer employee, employee plus one, and family coverage. The company pays 75% of the total projected premium costs and the employee 25% if they elect it. This year the weekly premium is $19 for single, $46 for employee plus one and $54 for family.
I will be glad to fax you a "summary sheet" of benefit costs if this would help you.
Its a little difficult to compare costs and how they are paid without knowing the coverages that are offered (under these costs.)
Hope this helps. Let me know if you need more or have any questions. [email]ewarthen@newcombspring.com[/email]
We have HMO and PPO plans. If the employee chooses the HMO, we will pick up 83% of that cost for the ee only - the employee therefore pays about $40. per month.
Last year, at our open enrollment meeting we explained about the across the board sky rocketing health insurance costs and also showed our employees comparisons that alot of companies nowadays expect their employees to shoulder between 25-40% of the actual costs. So in comparison, our asking for a 17% contribution level from them seemed very little.
And although my boss expected a revolution, most understood the necessity of passing some of the cost onto them. Of course, a few of them complained, but then again, you always have a few of those no matter what.
Hope that helps.
Hourly employees pay $40 per month for a single plan, and $290 per month for a family plan. This is 16% and 40%, respectively, of the anticipated actual annual cost. One year the actual costs were much lower than anticipated and all employee shares were cut to -0- for the month of December. Unfortunately, I don't expect to see that happen again any time soon.
Chari
City pays 100% for employee coverage, 75% for Emp/Family, 70% for Emp/Spouse, and 68% for Emp/Child/ren.
As we all know, the highest cost is in the Family tier level, so lowering the 100% given to employees to, say, 90% has a very small effect on your total cost. You will more than likely affect morale negatively, and you still haven't helped your employer with significant cost savings. I generally subscribe to the practice of raising co-pays or deductibles rather than having the employees' pay checks affected with higher premiums. If I'm healthy or lucky and never need medical attention, then I would rather have the lowest premium possible.