Employers in North Carolina are curious to know how their benefit plan design and premium costs compare to other local companies. The NC Healthcare Benefits & Cost Survey shares local benchmark data from North Carolina companies, which differs from most benchmark surveys that focus on national data.
CAI and HCW co-developed the 2011/2012 NC Healthcare & Benefits Cost Survey. The state-wide, annual health plan benchmark survey offers North Carolina employers information that is most critical in managing their employee benefits plan.
More than 700 N.C. companies participated in the survey with a majority of participants located in the Research Triangle region of the state. Small to medium-sized employers with less than 1,000 employees nationwide accounted for the majority of survey participants.
The survey also captures organizations from several different industries to give employers multiple views for benefit and policy trends. The top five industry groups include Durable Manufacturing; Professional, Scientific and Technical; Healthcare and Social Assistance; Finance, Insurance, Real Estate, Rental and Leasing; and Non-Durable Manufacturing.
Of the survey participants, 539 employers reported offering a Traditional Plan only, 76 employers offered a Consumer-Driven Health Plan (CDHP) only, and 100 employers reported offering both. Below are key insights from the two different plans.
- 22 percent of employers with traditional plans offer a non-rollover Health Reimbursement Account (HRA)
- 76 percent of employers with a traditional plan have a PPO plan, 18 percent have a POS plan and 4 percent have an HMO plan
- Average Health Plan premium cost for single coverage is $5,436.36 per year
- Average Health plan premium cost for family coverage is $15,595.08 per year
- Employer contributes to 83 percent of single-coverage premium costs
- Employer contributes to 54 percent of family-coverage premium costs
Key Findings: Consumer-Driven Health Plans (CDHP)
- 77 percent of employers with a CDHP have a Health Savings Account (HAS)
- 23 percent of employers with a CDHP have a rollover Health Reimbursement Account (HRA)
- Average Health Plan premium cost for single coverage is $4,701.72 per month
- Average Health plan premium cost for family coverage is $13,312.92 per month
- Employer contributes to 85 percent of single-coverage premium costs
- Employer contributes to 56 percent of family-coverage premium costs
Please find more information on NC healthcare benefits and costs from the local survey here.