FOR IMMEDIATE RELEASE
Lisa Graziano EBS Capstone firstname.lastname@example.org
2013 Health Plan Survey Shows Differences in
Health Benefits across U.S. vs. Massachusetts - Survey Results Illustrate Value of Benchmarking for Competitive Advantage, Savings
Recognized as the only source for local and regional health plan data, EBS Capstone offers
Massachusetts employers employee benefits benchmarking report.
Newton, MA, October, 29, 2013
- EBS Capstone and United Benefit Advisors (UBA) released results from the 2013 Health Plan Survey, the nation’s largest health plan benchmarking survey, that show drastic differences in employee health benefits cost and plan design across multiple regions of the United States. “The size of our survey, with nearly 11,000 employers responding, allows our clients to benchmark their plans based upon plan type, region, employee size and industry category more accurately than any other survey available. It gives them the best opportunity to see how their plan stacks up against competitors’ plans so they can better understand and communicate the value of their benefits to employees and effectively retain and recruit talented employees,” says Paul J. Rooney, Managing Partner.
For example, when considering a mid-size firm in Boston, MA whose health plan cost for a single employee is $502, it is important to review relevant benchmarks. When compared against the national average for all plans, that employer’s cost is $34 less than the average. However, when compared to other companies in Massachusetts on a similar health plan product, that premium is $130 less.
Further still, compare this employer’s cost to its closest peers using state-specific benchmark, which in
Massachusetts is $535, its plan is $33 less.
“UBA Partner clients saved, on average, 4.8 percent from their initial medical plan renewal offer in 2013, which translates to a staggering $820 million in annual medical plan cost savings,” says Thom Mangan, CEO of UBA. “Historically, benchmarking data of this kind were unavailable to small and midsize employers. Now, by using such detailed information, we are able to more accurately evaluate costs, and ultimately give employers of all sizes a competitive edge in recruiting and retaining a superior workforce.”
• HMO plans have been continually more popular in Massachusetts than in the nation with 49.5% of
Massachusetts survey respondents offering this plan type versus 18.4% nationally.
• The prevalence of deductible based – consumer directed plans have continued to grow in
Massachusetts with 22% of employees having CDHP as a choice.
• Deductible levels have jumped for Massachusetts plans with the average individual/family cost being
$2,000/$4,000 up from $1,500/$3,000 in 2012.
• Total annual cost per employee varies greatly across the US. For example, in the Northeast, an average total annual cost for coverage is $10,808; in the Southeast it is $7,846.
Request a copy of the 2013 UBA Health Plan Survey or a customized benchmarking report by contacting
Lisa Graziano at email@example.com.
About EBS Capstone
EBS Capstone (www.ebscapstone.com
) is a full service insurance brokerage firm offering customized solutions in employee benefits, retirement plans and all lines of property/casualty.
About the UBA Health Plan Survey
Data in the 2013 UBA Health Plan Survey are based on responses from 10,551 employers sponsoring 16,928
health plans nationwide. The 2013 UBA Health Plan Survey offers more than national data and recommends that employers benchmark with local data, which are more effective when adjusting plan design, negotiating rates and communicating value to employees. Contact a UBA Partner Firm for a customized benchmark survey based on industry, region and business size.
About United Benefit Advisors
United Benefit Advisors is the nation’s leading independent employee benefits organization with more than 200
offices throughout the U.S., Canada and the U.K. Visit www.UBAbenefits.com
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