M3 Releases 2016 Health Benefits Trend Report
M3 Insurance has released its 2016 Health Care Trend Report. This annual publication focuses on the status of health insurance costs and plan designs throughout Wisconsin.
The data within the report provides both public and private sector organizations a way to benchmark their employee benefit plan types, costs, deductibles, co-payments, and more. It offers insight on how employers are using benefit plan design to hold costs down and how different size employers are faring in the current marketplace.
Data published in the report shows that health plan premiums experienced a 6.7% growth rate over the past year. This is the second highest rate of change since 2011, but a slowdown from 2015.
The report is based on data obtained (as of April 30, 2016) from M3 clients across a variety of industries. It consists of 1,367 distinct benefit plans among 646 employers. Most of these employers reside in Wisconsin and firms range in size from three to more than 5,000 employees.
Call your M3 Account Executive to discuss the report findings in relation to your organization. Hard copies of the report are also available upon request.
M3 Insurance offers insight, advice and strategies to help clients manage risk, purchase insurance and provide employee benefits. We are committed to being experts in both the products we represent and the industries we serve. Our people advance M3’s competitive advantage in the marketplace, and our focus on community builds better places to live and work. M3 is consistently ranked a top 100 broker in America.