Healthcare reform will soon require all new medical plans to offer some type of prescription coverage, reducing unavoidable costs for many workers. Although medical plans vary from employer to employer, the majority of not-for-profit organizations surveyed already include prescription coverage in their policies.
According to the 2011 Compensation Data Not-For-Profit survey, 93.5 percent of reporting not-for-profit employers include prescription coverage in the employee medical plan. Nearly 26 percent of high deductible health plans (HDHP) have no prescription co-pay compared to just 2.1 percent of preferred provider organizations (PPO).
“Prescription costs are expected to drop in the future, but for some employees, it will still be a challenge now,” said Amy Kaminski, director of marketing for Compdata Surveys, the nation’s leading pay and benefits survey data provider. “Many organizations are looking for ways to help employees balance these costs.”
According to the results, the average co-pay dollar amount for generic prescriptions was $10.20 for 2011. Formulary prescriptions cost an average of $23.40, and non-formulary prescription co-pay amounts averaged $48.80 this year.
Not-for-profit organizations are placing a higher emphasis on wellness for employees as a way to contain medical costs. The results indicated 62.7 of participating not-for-profit employers utilized a disease management program in 2011. That number is up from 2010 when 56.6 of employers offered the program. On the other hand, the pre-existing condition clause is losing ground as only 30.5 percent of organizations indicated using this measure in 2011, compared to 39.1 percent last year and 48.6 percent in 2009.
About the Survey
Compensation Data 2011 Not-For-Profit surveyed more than 100 industry-specific job titles and 350 benchmark titles ranging from entry-level to top executives. Data was collected from more than 400 not-for-profit employers reporting on 1,267 locations across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of March 1, 2011.
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For more information about our compensation and benefit surveys, contact Michelle Willis at (800) 300-9570.