PLAN OFFERINGS NOW DIVERGING BY GROUP SIZE
A new trend of health plan offerings has emerged over the past few years, according to a new report from Zywave Inc. Group size appears to be a determining factor in whether employers are offering more generous health plans or working on implementing more cost-sharing strategies for health benefits.
Large organizations—with more than 500 lives—tend to offer generous health plans, likely in an effort to use their benefits packages as recruiting and retention tools in a market that is becoming increasingly fierce.
Smaller groups are cutting back on benefits and using cost-sharing efforts with employees. This trend of leaner benefits with smaller groups is likely an effort to bring down expenses associated with rising health care costs and other costs related to the ACA.
For more information on how your benefits offerings compare to other employers, contact 360benefits, Inc. for benchmarking information.