From the Wires
HORAN Introduces Data from Nation's Largest Health Plan Survey
Provides Employer-Sponsored Health Plan Cost Trends and Benchmarks for Ohio
By: PR Newswire
Dec. 10, 2012 09:34 AM
CINCINNATI, Dec. 10, 2012 /PRNewswire/ -- HORAN, a leading advisor in employee benefits and financial services, announces national health care costs continue to increase for both plan sponsors and their employees, according the 2012 Health Plan Survey conducted by its national partner, United Benefit Advisors (UBA), the nation's largest independent benefits advisory organization.
The 2012 UBA Health Plan Survey provides the best source of data for area employers to benchmark their health plan based upon plan type, region, state, number of employees and industry category.
As the only UBA firm in our region, HORAN has exclusive access to the survey data and can provide employers with a free, local benefits benchmarking report allowing access to more granular and accurate data.
"As health care plan offerings and the federal regulatory environment become more complex, benchmarking data such as the 2012 UBA Health Plan Survey have become increasingly critical for employers looking to manage their health care benefit programs effectively," says Valerie Bogdan-Powers, HORAN Vice President of Group Operations. "Providing an attractive, competitive and cost-effective health plan is critically important to local employers. In order to provide such a plan, understanding how your health plan compares to other like companies is crucial."
One noticeable trend from this year's survey is a decline in the percentage of plans offered for consumer driven health plans (CDHPs) in the United States for the first time since 2007. CDHPs growth stagnation is a critical pattern businesses should consider when making health plan purchasing decisions.
Other notable trends include:
With responses from 17,905 health plans sponsored by 11,711 employers nationwide, the 2012 UBA Health Plan Survey is the nation's largest and most comprehensive survey of plan design and plan cost benchmarks.
This unparalleled number of reported plans studied is 2.9 times larger than the next two of the nation's largest health plan benchmarking surveys combined. The resulting volume of data provides employers of all sizes (other surveys primarily target large employers) more detailed — and therefore more meaningful — benchmarks and trends than any other source to manage health care benefit programs.
"The intent of the survey is to provide employers of all sizes with the data they need to determine which types of plans are most popular in their area and those being phased out, average employee costs and participation, how their plans compare against competitors' plans, relevant information to negotiate their rates and communicate plan advantages to their employees," said Bogdan-Powers.
HORAN has a multi-disciplinary team dedicated to advising employers on all aspects of health benefits. The 2012 UBA Health Plan Survey as well as additional publications, compliance alerts, webinars and seminars will continue to be provided to give further guidance to clients as a part of HORAN's commitment to educate on best practice benefits strategies to support business objectives.
For more than 60 years, HORAN has served as a trusted advisor and thorough planner in the areas of life insurance for estate and business planning, employee benefits consulting and wealth management.
About United Benefit Advisors
United Benefit Advisors is a member-owned alliance of more than 140 premier independent benefit advisory firms with more than 200 offices throughout the U.S, Canada and the U.K., and is the nation's largest independent benefits advisory organization. As trusted and knowledgeable advisors, UBA Members collaborate with more than 2,200 professionals to seek out ideas, insight, expertise and best-in-class solutions that positively impact employers and make a real difference in the lives of their employees and families. Employers, advisors and industry-related organizations interested in obtaining powerful results from the shared UBA wisdom should visit this region's UBA firm, HORAN, online at horanassoc.com.
Contact Emily Frizzi
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