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Employer's Share of Health Insurance?

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   posted: Apr. 17, 2008 @ 3:46p
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Hey guys,

I've got a job offer with a company and am trying to evaluate their benefits. I'm pretty happy with the overall compensation I was just curious what most big companies (Fortune 500) cover as far as their share of health insurance.

I know some cover say 75% of the cost others might pay the entire cost.

I tired to google for some stats but couldn't find much reliable data.

So if you wouldn't mind letting me know the percentage your employer pays and maybe the ballpark size of the company to give me a better feel.

Thanks.

   posted: Apr. 17, 2008 @ 3:46p

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   posted: Apr. 17, 2008 @ 3:51p
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Dearth said:Hey guys,

I've got a job offer with a company and am trying to evaluate their benefits. I'm pretty happy with the overall compensation I was just curious what most big companies (Fortune 500) cover as far as their share of health insurance.

I know some cover say 75% of the cost others might pay the entire cost.

I tired to google for some stats but couldn't find much reliable data.

So if you wouldn't mind letting me know the percentage your employer pays and maybe the ballpark size of the company to give me a better feel.

Thanks.
Each company is different and it also depends on your situation (no. of dependents, type of job etc.). Why not just talk with HR of the company and ask them about their benefits package. It is perfectly fine to have the information before you accept the offer.

   posted: Apr. 17, 2008 @ 3:59p
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I'm sorry I see how my post wasn't crystal clearn. I know what this company is offering (I did ask their HR people) they pay 85% of the cost.

I'd like to see how that compares with some other companies. I'm changing sectors and I don't know what most companies offer.

   posted: Apr. 17, 2008 @ 4:00p
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Here's my data point, for what it's worth. I work at publicly traded company (NYSE) that has about 6,700 employees.

EE+FM coverage:

Medical (per pay period):$88.37 employee, $469.75 employer
Dental (per pay period):$10.09 employee, $43.61 employer

   posted: Apr. 17, 2008 @ 4:12p
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Comparisons won't tell much without knowing the type of coverage, copay, deductibles.

I pay $21 per pay period for my mine and my wife's CDHP and my employer pays $294.81.

I have a $4k deductible, and then pay 20% co-insurance until another $4k out of pocket is reached. After that, it is 100% covered by insurance.

   posted: Apr. 17, 2008 @ 4:48p
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The kind of coverage is important, right. And so are other benefits.
For example, my current employer pays 100% for medical and dental (and also reimburses hospital stay portion not covered by insurance), but does not match 401k contributions. My previous employer only paid 80% of insurance (and it was a crappier coverage too), but had a 150% match for 401k ... and also, a week more of vacation time.

   posted: Apr. 17, 2008 @ 4:58p
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dimatkach said:The kind of coverage is important, right. And so are other benefits.
For example, my current employer pays 100% for medical and dental (and also reimburses hospital stay portion not covered by insurance), but does not match 401k contributions. My previous employer only paid 80% of insurance (and it was a crappier coverage too), but had a 150% match for 401k ... and also, a week more of vacation time.

Very true. I have a pretty good handle on the other benefits the 401k match, vacation etc. What I don't have alot of data on is health insurance costs. I'm changing sectors and have been with one employer most of my adult working life so I don't have expierence with health insurance benefits.

The point brought up earlier about copays and deductibles is excellent I should have mentioned that in my original post of course that is a big factor in the overall healthcare cost. Also flexible spending accounts or health savings accounts come into play.

Am I correct to assume most employers offer HSAs now?

   posted: Apr. 17, 2008 @ 5:33p
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How do you find out how much your employer pays for your health insurance? Is this public info or is this in the benefits folders?

   posted: Apr. 17, 2008 @ 5:46p
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I work at a local hospital and this is what I get charged.

I pay 21 bucks per payperiod for single coverage. 30 Copayments for office visits, 100 for Er visits and 1000 for being admitted to an hospital.

I also pay 6 bucks for dental a month.

   posted: Apr. 17, 2008 @ 6:28p
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tazzy531 said:How do you find out how much your employer pays for your health insurance? Is this public info or is this in the benefits folders?
Benefits Brochures published by HR usually contain this information. I have seen this (all benefit contribution by employer) included in paystubs in some cases. You can certainly ask someone in HR about it, in case it is not readily availbale in published documents.

   posted: Apr. 17, 2008 @ 10:31p
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We've only got about 300 people. Having been here several years I get health coverage for self + wife for free.

Last year they supposedly were ending the free coverage for family. I was told that it was ending and because I was important I was getting a raise that would offset what I am paying for her. (She has no employer health option whatsoever.) IIRC this state persisted for two paychecks and then the health insurance deduction vanished as well as the raise.

Whether this is the result of accounting bending the rules to make things look better (at the time we had an accountant who turned out to be a bit dodgy) or whether the policy change was reversed I don't know.

   posted: Apr. 17, 2008 @ 10:53p
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Dearth said:Hey guys,

I've got a job offer with a company and am trying to evaluate their benefits. I'm pretty happy with the overall compensation I was just curious what most big companies (Fortune 500) cover as far as their share of health insurance.

I know some cover say 75% of the cost others might pay the entire cost.

I tired to google for some stats but couldn't find much reliable data.

So if you wouldn't mind letting me know the percentage your employer pays and maybe the ballpark size of the company to give me a better feel.

Thanks.What difference does it make how much the employer is paying. Different plans, different insurers, etc. makes this an irrelevant comparison.

What matters is how much YOU have to pay (dollar-wise, not the percentage of the total premium) and the coverage you are receiving.

   posted: Apr. 17, 2008 @ 11:39p
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Here are some of the factors you have to check:

1. Is this employee only coverage or family coverage? If family, is there a limit on family size?
2. Is Dental / Vision covered (or) extra?
3. Is Co-pay (Regular visits / Emergency) reasonable?
4. How much is deductible (or) Out of pocket?
5. How does this policy help for your family needs (getting married, kids, etc)?

As all other posters mentioned, the employer contribution varies from place and coverage varies from place to place as well.

And obviously, employer contribution for health insurance will not be the primary factor for you to accept this offer. Look at the whole package and see if it fits your needs.

My $0.02.

- CCG

   posted: Apr. 18, 2008 @ 1:47a
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Assuming this is good health coverage, 85% is a very good percentage for the company to pay.
I work in the group health field and I would say this is in the top 10% of what the employers I work with pay. Some professions pay higher than others, for example, i notice that attorneys offices pay a high percentage 75-90%, while many other professional companies pay 60-75%.

   posted: Apr. 18, 2008 @ 11:04a
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Employer Health Benefits 2006 Annual Survey

Text


There's a good report from California as well. Text


These are detailed reports that just may give you a headache.

   posted: Apr. 18, 2008 @ 12:20p
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My employer pays 100%
No co-pay, no deductibles, no nothing for medical.
For dental, preventative care is free. I pay 20% if I go for whitening, crowning, etc.

I work for a large fortune company with over 80k employees worldwide.

   posted: Apr. 18, 2008 @ 12:27p
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walletLess said:My employer pays 100%
No co-pay, no deductibles, no nothing for medical.
For dental, preventative care is free. I pay 20% if I go for whitening, crowning, etc.

I work for a large fortune company with over 80k employees worldwide.

Are they hiring?

   posted: Apr. 18, 2008 @ 1:45p
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walletLess said:My employer pays 100%
No co-pay, no deductibles, no nothing for medical.
For dental, preventative care is free. I pay 20% if I go for whitening, crowning, etc.

I work for a large fortune company with over 80k employees worldwide.

Microsoft?

Perkfinder among Fortune 100 Best Companies to work for

Send a PM and I'll maintain your secrecy.

   posted: Apr. 18, 2008 @ 2:37p
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I work for a state university - and they show it right on our pay stub.

They pay ~88% of the premium for medical coverage. Our coverage is an HMO.

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