South Carolina Report Card Mixed on Employer Health Benefits

GREENVILLE, S.C., Aug. 10, 2012 /PRNewswire/ -- South Carolina businesses are attacking rising healthcare costs by expanding consumer-driven healthcare programs, adopting high deductible health plans, providing health risk assessments, engaging in wellness initiatives, and banning tobacco from campuses, according to Rosenfeld Einstein's 2012 South Carolina Employer Benefits Survey.

As medical costs rise, premiums for Preferred Provider Organization (PPO) plans average less in South Carolina at $406 for single coverage versus $465 nationally.

High Deductible Health Plans (HDHPs), which include either an HRA or HSA, represent 60% of plans across the state, and are priced advantageously in South Carolina at an average $385 single compared to $399 nationally.

Employee contributions are greater as South Carolina businesses require higher employee contributions than do national organizations. For PPO single coverage, employees contribute an average of $92 towards premiums versus $84 nationally. For HDHPs, single coverage averages $59 in South Carolina versus $60 nationally.

Deductibles run significantly higher, with average PPO deductibles in South Carolina at $1,449 single and $3,693 family, versus national averages of $928 and $1,521 respectively. For HDHPs, single deductibles in South Carolina average $2,255 versus $1,908 nationally, while family deductibles average $4,620 in-state and $3,666 nationally.

The 2012 South Carolina Employer Benefits Survey is conducted bi-annually by Rosenfeld Einstein to help South Carolina businesses benchmark benefit programs to evaluate their competitive position. Highlights include:

• South Carolina is among national leaders in embracing Consumer Directed Healthcare Plans (CDHPs), with 60% of surveyed companies offering such plans, up from 46% in 2010
• Wellness programs are gaining ground, now offered by 56% of employers. Personal health assessments (offered by 66%), employee assistance programs (70% offer), and discounts for non-tobacco use (39%) are positive indicators
• 56% of South Carolina companies offer 2+ plans to select from
• 75% of employers offer 401(k), 403(b) or profit sharing plans
• Short-term disability coverage is offered by 76%, and long-term disability coverage by 86%
• Long-term care insurance is offered by 19% of state participants, and cancer insurance by 35%

"The participation by over 130 businesses representing over 39,000 employees and dozens of industries is highly significant," said Howard Einstein, principal of Rosenfeld Einstein. "These findings provide actionable, current information to guide future benefits planning decisions."

For additional details, contact Einstein at (864) 271-6336.

Contact: Sam Patrick
(864) 787-0820
[email protected]

SOURCE Rosenfeld Einstein