As the health care industry works to overcome employee burnout and staffing shortages, children’s hospitals are examining ways to attract and retain employees with comprehensive benefit programs while balancing costs.
CHA’s 2022 Benefits Survey captures a detailed look at children’s hospital-sponsored benefits compared to prior years. With feedback from 25 hospitals, this year’s survey highlights hospitals’ challenges in meeting recruitment and retention strategies, while maintaining benefit costs.
Here’s a look at three key trends.
Family premiums
Children’s hospitals are covering a higher percentage of employer-paid premiums for families than they were in 2020. Annual employer-paid premiums for employer-sponsored family health coverage are up 18.5%. The average total monthly premium was $2,168, with employees on average paying $490 toward the cost of their family coverage, down about 12% from 2020.
Individual premiums
Children’s hospitals are covering a higher percentage of employer-paid premiums for individuals than they were in 2020. The average employer-paid individual health coverage is $748 (up 21%). The employee pays an average of $127 (down 13%) toward their individual in-network coverage.
Deductibles
Deductibles for employee-sponsored health insurance plans were lower, on average, compared to deductibles in 2020. The average individual in-network deductible among covered employees is $1,048, down 3%.
The results from this year’s survey point to lower cost insurance and benefits for employees in light of expanded recruitment and retention efforts. The benefits survey is a resource as recruitment and retention strategies lead to ongoing benefit evolution.
18.5%
increase in employer-paid premiums for family health coverage.
13%
decrease in in-network coverage costs.
3%
decrease in in-network deductible costs.
