2023 Benchmark Report for Public Sector Employers
M3 Insurance has released our Benchmark Report for Public Sector Employers. This is a publication which focuses on the health insurance costs and plan designs of public sector employers.
The report leverages data collected from M3 public educational and governmental entity clients to provide you with a snapshot of the market for the past year. This type of data can help employers to better understand their unique challenges in structuring a health plan and provide them with the opportunity to compare their plans offerings to those of their peers.
The 2023 report is expanded from prior years, now including information about tax-advantaged health savings plans and data about employers who leverage purchasing groups.
According to data from the past year, the public sector experienced a 5.0 percent rate of change in health premiums. This rate of change is slightly lower than the rate noted for the public sector (3.6 percent), and historical norms as reported in the 2022 M3 Trend Report.
If you’d like to have a discussion on specific report findings in relation to your health insurance costs, contact your M3 Account Executive.
_____________________
About M3
M3 is a top insurance broker and risk management firm in America. We’re leaders in the products we represent and the industries we serve. M3’s people are an extension of your team, providing world-class resources to help you manage risk, purchase insurance, and provide employee benefits. And our focus on community builds better places to live and work.
