Impact of Healthcare Costs on Employers and. Christan Royer Director of Benefits, Indiana University their Employees
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1 Impact of Healthcare Costs on Employers and Christan Royer Director of Benefits, Indiana University their Employees
2 Total family premiums for employer health plans are rising. Source: 2
3 Employer premiums have risen, and so have employee contributions. *Estimate is statistically different from estimates for the previous year shown (p<.05). SOURCE: KFF Employer Health Benefits Survey, 2018; Kaiser/HRET Survey of Employer-Sponsored Health Benefits
4 Employee premiums for family coverage are growing faster than median income. Source: 4
5 Employee costs for employer coverage are growing faster than median income. *Estimate is statistically different from estimates for the previous year shown (p<.05). SOURCE: KFF Employer Health Benefits Survey, 2018; Kaiser/HRET Survey of Employer-Sponsored Health Benefits Bureau of Labor Statistics, Consumer Price Index, U.S. City Average of Annual Inflation (April to April), ; Bureau of Labor Statistics, Seasonally Adjusted Data from the Current Employment Statistics Survey, (April to April). 5
6 HEALTHCARE SNAPSHOT Indiana University 6
7 Millions Employer healthcare costs are growing $300 $280 $250 $200 $150 $207 $219 $233 $248 The IU healthcare budget has increased $100 35% in 4 years. $50 $ SOURCE: IU Annual Open Enrollment Publications 7
8 Employee premiums are not affordable Annual Salary: $40,000 Medical Plan: HDHP with HSA Level of Coverage: Family $1, $2, Employee premiums for family coverage increased by 52% over the past 6 years. That s an average increase of 8% annually. $1, $1, $1, $1, Premium contributions consume about 5% of the employee s base salary. $1, Annual Medical Premium SOURCE: IU Annual Open Enrollment Publications 8
9 Rising PEPY costs Employee Pays Employer Pays 2013 $2,427 $8,966 $11, $2,427 $10,090 $12,517 PEPY costs increased 2015 $2,523 $10,349 $12,872 30% from 2013 to $2,546 $11,453 $13, $2,552 $12,194 $14,746 SOURCE: IU Claims Data, Med and Rx, Paid March 2013 through February
10 Healthcare cost outpaces employee pay and inflation. 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 7.40% Employee Pay Increase Overall Inflation Avg Healthcare Trend 8.00% 7.10% 6.30% 6.30% 3.00% 2.00% 1.00% 2.00% 1.50% 2.30% 2.00% 2.00% 0.70% 2.50% 1.30% 2.30% 2.00% 0.00% Source: IU Data,, Fiscal Year ; Mercer s National Survey of Employer-Sponsored Health Plans; Bureau of Labor Statistics, Consumer Price Index, U.S. City Average of Annual Inflation (April to April)
11 Skyrocketing outpatient PEPY costs $4,500 18% $4,000 16% $3,500 14% $3,000 12% $2,500 10% $2,000 8% $1,500 6% $1,000 4% $500 2% $0 Feb Jan 2014 Feb Jan 2015 Feb Jan 2016 Feb Jan 2017 Feb Jan 2018 Feb Jan % Net Pay PEPY Facility Outpatient Net Pay PEPY Facility Outpatient % Change 11
12 Impact of healthcare costs on employers and employees Healthcare expenditures are a large proportion of employer budgets Costs are growing rapidly on a per employee basis, at rates far above the cost of living These increases are challenging the ability to provide raises to employees This is NOT sustainable. To shield employees at IU, a greater proportion these costs have shifted to the employer s budget over time Employers can t keep doing the same thing and expect different results. 12
13 Employers are nearing the end of their ability to improvise. IF YOU CAN T AFFORD TO SEE A DOCTOR, YOU GET REFERRED TO THE AIRPORT FOR A FREE X-RAY AND COMPLETE ENHANCED PAT-DOWN. 13
14 Levers for employers to adjust CURRENT FUTURE Increase Premiums Contracted Medicare Plus Pricing Health Savings Account (HSA) Narrow or Tiered Networks Deductible and Outof-Pocket Maximums Direct Contracting with Providers 14
15 Hassan Azar Senior Vice President, Total Rewards US Foods Kathy Donnenson Chief of Health Plan Administration Division, California Public Employees Retirement System (CalPERS) Impact of Healthcare Costs on Employers and their Employees Dawn Kopacz Manager of Health Care Plans, General Motors Nicole Williams Director, Cummins Global Clinical Strategy 15
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