New 2010 HighRoads Data: Families Will Feel the Pinch of Increased Health Insurance Costs

HighRoads, the company providing employers - for the first time - complete control over their health care costs and compliance, announced new research data for 2010 from The Lab®, HighRoads' comprehensive employer benefits database, which shows across the board increases in health insurance costs and an increase in the share of costs employers are passing along to employees.

The Lab, which contains plan design and related cost information for over 6,000 medical plans is used by HR consulting firms and plan managers of some of the world's largest employers to benchmark medical programs at a granular level in real time. Based on a recent data snapshot which shows results for 2010, The Lab reveals the following trends: PPO in-network family deductibles per plan year rose 50% between 2008 and 2010, from $600 per year to $900 per year PPO family premiums per plan year increased 13% between 2008 and 2010, from $989 to $1,118 per year HMO family premiums per plan year increased 18% between 2008 and 2010, from $1,053 to $1,240 per year

"Many employers pressured with declining revenue and a more difficult business environment had little choice other than change 'the deal' they have with their employees or reduce headcount all together," said Joshua Miley, principal, HighRoads. "Employees are experiencing wage freezes coupled with higher benefit costs through increased payroll deductions and higher point-of-care payments such as deductibles and copayments. This year's open enrollment period has become a critical decision point for many families and individuals and being prepared with all the facts is an employee's best course of action."

HighRoads helps employers better manage their health care costs and slow the increasing cost share burden passed on to employees. The ability to manage all health plan information - including designs, rates, Summary Plan Descriptions (SPD), contracts, vendor performance and benchmarks - in one centralized location provides employers the insight they need to manage their programs holistically and proactively. HighRoads reduces errors, time and costs associated with the benefit delivery process by repurposing plan information across the benefit delivery spectrum, from RFP and SPD management, to vendor monitoring and global reporting.

To access additional details on HighRoads' benchmark findings and observations, please visit: www.thehrlab.com.

For more information on HighRoads' Procurement and Renewal Services, please visit: http://www.highroads.com/control/procurement-renewal-service.php. About The Lab The Lab allows users to track market trends and accurately pinpoint the underlying factors driving them. Real plan and cost information is added to the benchmark on an ongoing basis, covering a range of market industries and company demographics. HighRoads is pioneering the way that companies manage and analyze their HR information. For more information or to register for a free trial, go to www.thehrlab.com. About HighRoads The world's largest employers choose HighRoads to gain complete control over their health care costs and compliance. With HighRoads' service, employers - for the first time -- have online access to benefits plan information and pricing, competitive benefits benchmarks, and complete benefits supply chain management. The privately-held company is headquartered in Woburn, Mass.

* Editor's Note: Data graphics available upon request or by visiting: http://newsroom.highroads.com/?p=797