April 17, 2014

Healthcare & Employee Benefits 2009

| 1/1/2009

CEO Survey results - Cost Increase

Overall, by what percent are your organization’s healthcare costs projected to rise in 2009?
2008 2007 Change from
2007 (% pts.)
0 to 9% 44% 45% -1.0
10 to 19% 46 48 -2.0
20 to 29% 8 5 +2.7
30 to 39% 2 2 +0.5
Average Increase 10.8% 10.2% +0.6

CEO Survey results - Healthcare Premiums

Do you expect the percentage of healthcare premiums paid by your employees will increase, stay the same or decrease in 2009?
2008 2007 Change from
2007 (% pts.)
Increase 48% 44% +3.6
Stay the same 47 51 -3.9
Decrease 1 1 -0.2
Don’t know 4 4 +0.5

CEO Survey results - managing Healthcare Costs

Is your organization taking any of the following actions to deal with healthcare cost increases?
2008
Promoting healthy lifestyles, wellness programs 68%
Creating employee responsibility and cost awareness 58
Higher co-pays, deductibles 45
Detailed plan analysis 43
Aggressive RX management programs 39
Health risk assessment 31
Personal health advocacy 30
Consumer driven health plans (HRA, HSA) 29
Becoming self-insured 18
Expanding coverage options 17
Census and eligibility scrubbing 14
Changing administrators 13
Restricting spousal or family coverage 7
Less coverage 2
Don’t know 7
Other 4

William Klich
Viewpoint Managing Healthcare Costs
William R. Klich
BB&T
State President
St. Petersburg

We shop very aggressively for insurance and monitor our healthcare claims per employee with those of our competitors. We’re finding that we spend $1,000 less per worker in medical costs than peer companies, and 25,000 employees times $1,000 is a pretty significant number. Our costs are controlled by educating employees and encouraging their participation in our Peak Health wellness program, which screens for diet, exercise, weight and overall health. Depending on the level of insurance, the average employee participating in the program will reduce his or her healthcare costs by $700 to $800 a year. Our healthcare benefits are absolutely a selling point in recruiting. We offer health benefits to part-timers, which helps us in staffing. Then throw in the wellness program, and we have a great advantage over other employers that pays dividends in turnover, sick days and absolute costs to the company.

Tags: Healthcare

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Okeanos Explorer 2014
Okeanos Explorer 2014

NOAA's ship, Okeanos Explorer, carrying scientists and the ROV Deep Discoverer (D2), has arrived at site “Northwest Gulf Mid-Depth." Today (4/17/2014), the ROV will visit two Monterrey shipwrecks. Deployment of the ROV is planned for 0930 Eastern, arriving at the seafloor around 1030. Click above to watch the adventure unfold or go here for more info.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Amazon will begin charging Florida residents sales tax on May 1, 2014. How will this affect your online shopping at Amazon?

  • I will buy less from Amazon
  • This won't change my Amazon shopping
  • I don't shop at Amazon

See Results

Ballot Box
Subscribe