Research: B-to-B media companies are keeping healthcare costs downAug. 22, 2012 – Healthcare plan costs are growing slowly or even decreasing at most b-to-b media companies, according to a survey conducted by ABM’s Talent Management Committee. Almost a third of responding companies saw costs shrink over the last year, and 41 percent of companies saw costs increase moderately, reporting a rise in the 1 percent to 10 percent range from 2011 to 2012.
The wide-ranging survey polled b-to-b media companies on a range of topics, from how frequently they change plan providers to insurance options offered to spousal coverage and wellness programs. The research also offers benchmarking data on plan costs, coverage specifics, prescription benefits and more. Some key takeaways:
• Although 63 percent of responding companies report that they survey the market for bids from competing providers annually, they are nonetheless generally satisfied with their providers. About 28 percent have remained with the same benefits provider for five or more years, and 52 percent say they tend to do so, generally speaking.
• About 80 percent of employees participate in a company health care plan, and the median age of participants is 42 years old.
• Of the approximately 30 responding b-to-b media companies, 18 offer PPO plans, 10 offer high-deductible plans and six offer HMO plans.
The research covered the 2011 to 2012 period, and 31 companies participated in the survey, representing 28 percent of ABM’s media company membership.
The complete 50-page 2012 Health Benefits Survey is available as an ABM members-only download.
By Michael Moran Alterio