Key Insights from Maryland’s Health Plan Trends
The UBA’s comprehensive survey, including data from 259 Maryland employers, spotlights the prevalence of different health plans. Notably, HMO/EPO plans are chosen by nearly 37% of employers, diverging from the national preference for PPOs.
Maryland’s Health Plan Costs: A Comparative Study
In Maryland, the average health plan costs are slightly above national but below regional averages, with PPO plans averaging $13,013 annually per employee. This section will delve into the implications of these costs for local businesses.
Employer Contributions: The Maryland Perspective
Maryland businesses typically cover a substantial portion of health plan premiums, with 76% for PPO single plans. This reflects the state’s approach to providing competitive health benefits.
Deductibles and Out-of-Pocket Maximums in Maryland
Maryland’s median in-network PPO plan deductible stands at $1,500, offering a regional comparison that affects both employers and employees.
For further insights or a full benchmarking report, Maryland employers can contact 1706 Advisors.