Benefits Were 30.7 Percent Of Total Compensation In June 2012, BLS Finds

from Spencer’s Benefits Reports: Employer-provided benefits costs for civilian workers in private industry and state and local governments in June 2012 averaged $9.39 per hour worked, accounting for 30.7 percent of total compensation costs, which averaged $30.61 per hour worked. The cost of benefits as a percentage of compensation has risen in the past three […]

IRS Deputy Miller Touts ACA Implementation

IRS Deputy Commissioner for Services and Enforcement Steven T. Miller told House lawmakers on September 11 that the IRS will be ready in 2014 to implement the advance premium tax credits and health care exchanges required by the Patient Protection and Affordable Care Act (ACA). Speaking before the House Ways and Means Oversight Subcommittee, Miller […]

CDHPs Second Most Common Plan Design Offered By Employers

from Spencer’s Benefits Reports: Consumer-driven health plans (CDHPs) have surpassed health maintenance organizations (HMOs) to become the second most common plan design offered by U.S. employers, according to research from human resource consultant Aon Hewitt. The 2012 Health Care Survey found that in 2011, 58 percent of employers offered a CDHP and 38 percent offered […]

Health Reform’s Pre-Existing Condition Insurance Program Fulfills Mission As A Bridge Program

from Spencer’s Benefits Reports: The Pre-Existing Condition Insurance Plan (PCIP), the federal temporary high-risk health insurance pool established by the Patient Protection and Affordable Care Act (ACA), is fulfilling its mission as a bridge program, according to the Commonwealth Fund. Currently, the PCIP is providing a coverage option for people with pre-existing health conditions until […]

Firms With Many Part-Time Workers Weight Response To ACA Coverage Requirement

from Spencer’s Benefits Reports: As companies with large populations of part-time employees determine how they will proceed in response to the Patient Protection and Affordable Care Act (ACA) requirement to provide health insurance benefits to employees working at least 30 hours per week, they should consider the effect of their employment decisions not just on […]

Health System Transformation, Increased Use Of Technology Needed To Improve Care And Reduce Costs: IOM Report

from Spencer’s Benefits Reports: America’s health care system has become too complex and costly to continue business as usual, according to a recent report from the Institute of Medicine (IOM). The report, Best Care at Lower Cost: The Path to Continuously Learning Health Care in America, found that inefficiencies, an overwhelming amount of data, and […]

Wellness Programs Save Employers $1 To $3 For Every Dollar Spent: IFEBP

from Spencer’s Benefits Reports: Most employers that have analyzed the financial impacts of their wellness programs have found $1 to $3 decreases in their overall health care costs for every dollar spent, according to a report from the International Foundation of Employee Benefit Plans (IFEBP). The report, A Closer Look: Wellness ROI, compares results between […]

Positive Benefits Enrollment Experience Leads To Increased Perceived Value Of Benefits

from Spencer’s Benefits Reports: Employees who have a positive benefits enrollment experience attach a higher value to those benefits and to their selections, according to recent research from the Guardian Life Insurance Company of America. The survey, Benefits & Behavior: Spotlight on the Benefits of an Employee-Centric Enrollment Experience, found that 70 percent of employees […]

ERIC Urges Obama Administration To Clarify Dependent Coverage Requirements

from Spencer’s Benefits Reports: The ERISA Industry Committee (ERIC) is urging the Obama Administration to clarify and support the interpretation that employers are not required to offer dependent coverage in order to meet their shared responsibility obligations under the Patient Protection and Affordable Care Act (ACA). In an August 27 letter to Deputy Assistant to […]

Health Care Costs Rose 4 Percent For Families In 2012: Kaiser/HRET

from Spencer’s Benefits Reports: In 2012, the average premium for family coverage was $15,745, a 4 percent increase from $15,073 in 2011, according to research from the Kaiser Family Foundation and the Health Research & Educational Trust (HRET). The 2012 Annual Employer Health Benefits Survey found that the average annual premium for single coverage in […]