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Medical Insurance Contributions
Benefits & Compensation
Medical Insurance Contributions
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
With rates in the N.E. going through the roof, on our upcoming medical insurance renewal my firm needs to revisit its employee premium contribution percentage , which is very low at present. We are a
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Forums » Topic Forums » Benefits & Compensation » Medical Insurance Contributions
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Medical Insurance Contributions
posted at 8/2/2000 2:16 AM EDT
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Posts: 34
First: 8/2/2000 Last: 6/22/2011 |
With rates in the N.E. going through the roof, on our upcoming medical insurance renewal my firm needs to revisit its employee premium contribution percentage , which is very low at present. We are a financial firm of under 100 and I'd like to know what's the average employee premium contribution percentage for medical insurance coverage. How about the contribution percentage for spouses/dependents? |
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Medical Insurance Contributions
posted at 8/2/2000 3:19 AM EDT
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Posts: 55
First: 5/4/2000 Last: 3/5/2001 |
In our company (14 people) we split the premiums 50/50. The employee contribution is taken out in equal increments from the 2 paychecks received each month. We have had no complaints up to this point. |
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Medical Insurance Contributions
posted at 8/5/2000 11:37 AM EDT
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Posts: 6
First: 7/31/2000 Last: 5/10/2007 |
You can/should obtain information on average er/ee contributions by region, by industry, by company size and by product (e.g. PPO, HMO, dental, vision). Unfortunately, I don't know where to send you to get it as it has always been provided to me. Your agent might have the info, or try the library. Companies that compile such info include Wyatt and Mercer. Of course, it might not matter what other financial firms are doing if you can't afford it. You'll have to be careful how you communicate the increase to the ees and you'll want to make sure you don't increase it so much that everyone leaves the plan (low participation will make it hard to shop around in future years - trust me, I've been there). |
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Medical Insurance Contributions
posted at 8/14/2000 9:47 AM EDT
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Posts: 48
First: 6/11/1999 Last: 4/13/2001 |
We pay up to 110% of the cheapest plan (we offer 3) for full time emps; 50% for dependents. We contribute 80% of what contribute to full timers, to part-timers over half-time. This for medical and dental.
We are an educational non-profit of 120. |
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Medical Insurance Contributions
posted at 8/22/2000 2:02 PM EDT
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Posts: 3
First: 8/8/2000 Last: 8/22/2000 |
I'm at a northern California company with about 200 employees. The company pays 65% of the premiums and the employee pays 35% of the premiums. We are preparing for open enrollment and have asked our broker to see if what we offer is competitive with other local companies. I really hope that we can pay 100% of the employee's coverage and a portion of dependents. |
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Medical Insurance Contributions
posted at 9/5/2000 8:43 AM EDT
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Posts: 7
First: 9/5/2000 Last: 8/8/2008 |
As an outsourced HR department, we find most of our clients in NYC(internet start ups- and financial internet start ups) pay 80% for the cost of all of our plan choices (3 medical, 2 dental)for the employee, spouse, domestic partner and their children.
You might want to contact those specifically in your field of practice. Also, keep in mind your recruiting needs and how to develop your package so that it attracts those in your feild. |
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