Tag Archives: survey

2018 Stop-Loss Survey

February 25, 2019

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Last year we published our inaugural Stop-Loss Survey, which allowed employers and their advisors to more accurately benchmark deductibles and premium levels based on peers of similar size and geographic area. As a result of the success of our 2017 Marsh & McLennan Agencies Stop-Loss Survey, we are excited to share with you the results of our 2018 survey. The upper Midwest region of Marsh & McLennan Agency (MMA) is comprised of 11 offices in 10 states providing employee benefits consulting to 2,500 employers throughout the USA.

As with all aspects of the insurance industry, the only constant is change. The stop-loss excess insurance market is no exception to the innovative cost containment strategies being implemented by payers and their customers, the employer. Expanded utilization of shared risk arrangements by third party administrators (TPAs) and providers, broad interest in reference-based pricing, growth of employer stop-loss captives and the advent of what is expected to be the first million-dollar prescription are just a few of the pressing topics our employers and consultants are implementing strategies around. Now more than ever, ensuring appropriate coverage levels and premium rates remain the focus for most employers.

To provide benchmarks for reinsurance coverage that are representative of local markets, 243 MMA clients were surveyed. These respondents cover nearly 200,000 employees and vary in size from nine to 20,000 covered employees, with an average of 825. Of the respondents, 99% purchased some level of specific (individual) stop-loss coverage, although at varying levels from $20,000 to $1,000,000 per individual. In addition, 135 (56%) of employers purchased some level of aggregate coverage with corridors ranging from 10% to 25%.

For the full survey please click here: 2018 Stop Loss Survey

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Workplace Wellness Surveys

June 17, 2014

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Several workplace wellness surveys have been released recently. Virgin Pulse, along with Workforce magazine, surveyed 361 organizations to gain insight into the benefits of workplace wellness programs. Some findings of their 2014 survey:

  • 87.4% of employees stated that wellness positively impacted the work culture
  • 88% of employees describe access to health and wellness programs as an important factor in defining an employer of choice.
  • 63.8% of employees report having more energy as a result of participation in wellness programs
  • 61% of employees report feeling happier as a result of participation in wellness programs
  • 64.2% of employees report that the wellness programs have directly contributed to their productivity on the job

The 2014 bswift Benefits Study, published by Employee Benefit News, found that employers are providing incentives to employees for completing health risk assessments, biometric tests and for wellness education.

  • 56% of employers were providing incentives to employees for non-tobacco use
  • 24% were incentivizing employees for meeting biometric standards such as specific cholesterol levels or blood pressure.
  • Premium incentives were used by 64% of employers.

What types of programs are employers using?

  • 32% of large employers (>500) are using wellness programs provided by their healthcare carrier
  • 43% of small employers are using wellness programs provided by their healthcare carrier
  • About 30% are developing wellness programs on their own
  • 40% of large employers are outsourcing their wellness programs
  • 22% of small employers outsource their wellness programs

How much are employers investing?

  • 31% of small companies invest $500 or more in wellness incentives per employee
  • 36% or large companies (>500) invest $500 or more in wellness incentives per employee

The wellness discussion continues as employers find new ways to manage healthcare costs.

2014 bswift Benefits Study

Virgin Pulse 2014. The Business of Healthy Employees   

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Is staff turnover effecting your company’s bottom line?

June 13, 2014

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Workplace benefits are increasingly becoming a subject of focus for HR.  According to the Society for Human Resource Management (SHRM), in the past year, HR has spent more time educating their employees on benefits, including the areas of: health care plans (61 percent of respondents), their company’s 401(k) plan (38 percent), recruitment and layoffs (32 percent), and other compensation and employee-benefit-related issues.

In further research by SHRM, 61% of employees who were very satisfied with their benefits said they felt a strong sense of loyalty to their employer vs. 24% of employees who were very dissatisfied with their benefits.

postcard300Knowing how your company’s benefits program compares to your competitors is an important component of any retention strategy.  J.W. Terrill can help you understand how your plans measure up through the Gateway Region Mid-Market Benefits Survey. The survey is now open and your participation is encouraged.

  • Quick & Easy – in a user-friendly web-based format, you can complete it at any time and even return to your survey for later editing and completion
  • Comprehensive – compare benefits programs and compliance strategies
  • Thorough interpretation – your individual results will be provided in a clear, easy-to-understand format by a qualified and knowledgeable consultant
  • Are you a past participant? Your answers are pre-populated from prior responses
  • Earn HRCI recertification credits
  • No cost to participate!

Contact Denise Kaiser at 314-594-2793 or send an email to survey@jwterrill.com for more information.

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