With the costs of medical insurance regularly increasing, utilities organizations look to other means in order to control costs. According to the 2011 Compensation Data Utilities survey results, the most common of those options is coordination of benefits at nearly 94 percent. This option showed the largest increase, up from 88.2 percent in 2010.
A network of health professionals and disease management and are the next most prevalent methods used. Nearly 81 percent of organizations report using a network of health professionals, and 68 percent offer disease management.
The biggest decrease from 2010 to 2011 is in the requirement of a second surgical opinion. In 2010, 14.7 percent of utilities employers attempted to contain costs by requiring a second opinion compared to less than 10 percent in 2011.
“As utilities companies face the same struggles as other industries, they are looking for ways to contain costs,” said Amy Kaminski, director of marketing for Compdata Surveys, the nation’s leading pay and benefit survey data provider. “In 2011, nearly 21 percent of employers reported offering a choice of deductible levels to employees in order to find a healthcare plan with lower costs.”
The most popular measure of reducing the healthcare costs placed on the employer was to increase the employee portion of the premium. The results show nearly 52 percent of utilities companies shifted some of the premium cost to the employee based on a percentage of the total cost. More than 34 percent of employers increased the deductible levels in an effort to lower the overall costs of the plan while 37.4 percent increased the employee co-insurance level.
About the Survey
Compensation Data 2011 Utilities contains data on more than 460 titles ranging from entry-level to top executives. The results feature data from nearly 130 utility organizations reporting on more than 1,450 locations across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of February 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 further information about the compensation and benefits surveys, contact Michelle Willis at (800) 300-9570.