Wisconsin employers largely saw modest health plan cost increases this year, according to a new report from Pewaukee-based HCTrends, writes Milwaukee Business News.
HCTrends surveyed more than 300 employers, representing about 170,000 employees, to assess trends in the state’s health insurance market.
Just under 60% of employers surveyed had an increase at renewal of 7% or lower, which could in part be driven by a lack of claims from early 2020 when medical facilities were closed for non-emergency services and many people delayed seeking care. Small employers had slightly higher plan cost increases, with one in five employers with fewer than 50 employees seeing plan increases greater than 10%.
Premiums for Wisconsin employers rose by an average of about 5% in 2021, with four out of 10 Wisconsin employers surveyed reported premium increases of less than 3% and one in eight reported increases of more than 10%.
The survey was conducted in cooperation with The Benefit Services Group, Inc. | Hausmann-Johnson Insurance, BSG Analytics, LLC, Business Health Care Group, and The QTI Group.
- Milwaukee Business News: https://biztimes.com/wisconsin-employers-report-modest-health-plan-increases-this-year/