2012 Indiana Healthcare Benefit Survey Results Released

August 3, 2012 (Indianapolis) – Nyhart, Indiana’s largest independent actuarial and employee benefits consulting firm, has released the results of its 2012 Indiana Healthcare Benefit Survey. The survey reached 221 companies across the state reflecting the benefit plans of 187,000 Hoosiers.

Download the executive summary of the survey which is available to all businesses.

Some highlights include:

• Healthcare benefit costs increased 6.6% (single coverage) and 5.9% (family coverage) in 2012 for Indiana employers.
• The use of high deductible plans continues to grow as a cost containment strategy
• Employers are encouraging greater use of low-cost drugs by various design means and adding a new tier for selected over-the-counter and maintenance medications.
• This year’s survey collected more detailed information on wellness benefit data. Of the employer’s surveyed, 61.8% currently have wellness benefits including some of the most-offered benefits like an employee assistance program (EAP), nurse line/decision support and biometric screenings.

The study was conducted in partnership with FirstPerson Benefit Advisors, Gregory & Appel Insurance and Old National Insurance. Companies seeking to receive the entire 60+ page report including benchmarks by industry, geographic region and employee-count may do so if they commit to participating in the 2013 survey.  You can get a full copy here.

“The survey provides an excellent benchmark for employers as they examine the healthcare benefits they offer,” said healthcare actuary and lead researcher Randy Gomez, FSA. “With regard to cost, employers want to know if their plan costs are close to average or an outlier,” Gomez continued. “Employers are making major changes to their health plans by increasing deductibles and changing plan structures, encouraging employees to make better decisions as consumers.”

For more information regarding the survey contact: Randy Gomez, Healthcare Actuary and Principal, at 317-845-3595 or randy.gomez@nyhart.com. Also visit www.nyhart.com.

About Nyhart

Nyhart, one of the nation’s largest independent actuarial and employee benefits consulting firms, consults and administers retirement plans to 1000+ clients in 48 states representing $14 billion in plan assets. Established in 1943, Nyhart is an employee owned company (ESOP), with headquarters in Indianapolis and offices in Atlanta, Chicago, Kansas City and St. Louis. The company was named a 2009 Indiana Company to Watch by the Indiana Economic Development Corporation (IEDC) and was named a Best Place to Work by the Indianapolis Star in 2009, 2010 and 2011.