According to a recent survey from Aflac, 31% of employers have increased their employees’ share of health insurance premiums this year, 30% have increased employees’ copayments, and 21% have implemented high-deductible health plans with Health Savings Accounts.
Deductibles employees must pay have risen six times faster than their earnings since 2010, and co-pays and out-of-pocket limits have also been increased significantly. The survey also showed that 78% of employees making under $50,000 annually currently have less than $1,000 set aside in an emergency fund to pay for out-of-pocket expenses associated with an unexpected illness or accident. Even those making more are not immune, as 20% of employees making $100,000 or more also have less than $1,000 set aside. It’s not surprising that your employees may be struggling with health care costs.