Performance Thinking

Expert information and solutions for your business.

National Benefits Benchmark Data

Decisions about your employee benefits have far-reaching and financially significant implications – for your business and your employees. At Scott, we empower our clients with detailed benchmark data to make informed, strategic decisions.

Each year, Scott Benefit Services, alongside a leading actuarial consulting firm, conducts a Mid-Market Benefits Benchmarking Survey to help guide employers as they navigate the ever-changing employee benefits landscape. 

•  Click here for a summary of the results from our 2017 survey.
•  Click here for information about participating in our 2018 survey. New participants will be accepted through June 11.

National Benchmarking Survey

While our survey is conducted among mid-market employers in our geographic footprint, our actuarial partner conducts the survey nationwide, providing valuable benchmarking information.

The 2017 national results include responses from 6,606 unique employers, representing a variety of sizes and industries, 2.3 million employees and roughly $25.3 billion in healthcare dollars spent.  

Key findings for 2017

The 2017 National Survey revealed the following:

•  Deductibles for PPOs and HMOs are trending upwards.
•  12% of employers are considering offering an HDHP in the future.
•  The median final cost increase is 5% nationally.
•  16% of employers increased the employee’s share of monthly premiums to manage rising costs, while 10% increased deductibles.
•  Prescription drug expenses are the fastest growing component of healthcare spending, increasing nearly 40% from 2013-2017.

Funding Strategies

Based on the survey results, the type of funding strategy employers utilize is directly related to their employee count:

•  Less than 200 employees: 80% Fully Insured; 20% Self Insured
•  200 – 499 employees: 61% Fully Insured; 39% Self Insured
•  500 – 999 employees: 43% Fully Insured; 57% Self Insured
•  1000+ employees: 25% Fully Insured; 75% Self Insured

Learn more about our expertise in alternative funding strategies.

Affordable Care Act Concerns

The 2017 survey included questions to gauge employers’ concerns related to healthcare reform. Responses indicate that the top concerns related to the ACA are:

•  Associated costs
•  Keeping up with changes
•  Ensuring compliance
•  Potential penalties

Scott Benefit Services is dedicated to remaining informed and being involved at the highest levels of healthcare reform advocacy on behalf of our clients. Greg Stancil, Scott’s Director of Healthcare Reform, recently spent time in Washington, D.C., meeting with U.S. Representatives and Senators, policy advisors, and leaders in the White House. Join us on Thursday, May 24, for an upcoming free webinar, Insider Insights from D.C., to hear the latest updates related to the ACA and healthcare reform.

Want to know how you compare?

Learn more about our 2018 Mid-Market Benefits Benchmarking Survey and how you can utilize the power of benchmarking data to make strategic benefits decisions and improve your results.

Dangers of Distracted Driving

Auto Coverage

Distracted driving is any activity that could divert your attention away from the main task of driving.1 It is something that is both dangerous and disturbingly common. In fact, an estimated 660,000 drivers are using electronic devices while driving during daylight hours.2 You may be surprised to learn that cell phones and texting are just part of the problem when it comes to distracted driving. While stowing your phone while you drive is an important safety step, other behaviors behind the wheel, from drinking coffee to using a navigation system, may also be putting you at risk.  Read Full Story

Reference-Based Pricing: A PPO Alternative

Employers that provide health insurance for their employees know first-hand how the high cost of healthcare negatively impacts their business, and how cost shifting to employees challenges their workers. The skyrocketing trend of healthcare costs has become a widely accepted norm that leaves many feeling helpless, but viable alternative solutions are available. For those ready for change, understanding the options is the first step.  Read Full Story

Business Pollution Coverage & Potential Exposures

When it comes to determining which businesses need pollution coverage, most businesses think they know the answer. The manufacturing plant with its tall smoke stacks, the local gas station or the rock quarry down the road. In short: anyone but me.

What constitutes a pollution claim?

The misconception around pollution exposure and the need for coverage is based on the fact that most businesses believe that pollution claims arise from traditional environmental claims like oil spills or water contamination. The reality is that pollution claims can come in many unexpected ways. For example, a faulty HVAC unit in a commercial building that starts to release carbon monoxide fumes that can lead to injury to the tenants. Another example is a contractor excavating for the foundation of a building that hits a sewer pipe. Each of these situations arises from the normal operations of the business, but each results in a pollution claim.  

Read Full Story

Cigna to buy Express Scripts for $67 billion

Cigna, one of the largest health insurers in the country, is set to acquire pharmacy benefit manager Express Scripts (ESI) in a cash and stock transaction valued at approximately $67 billion. The proposed deal has Cigna acquiring ESI at a 31% premium and is expected to close by the end of 2018.  

Read Full Story