Missouri’s Health Plan Landscape
The UBA’s “Missouri 2023 Size and Industry State Report,” in partnership with 1706 Advisors, provides a crucial assessment of employer health plans. Data from 98 Missouri employers, covering nearly 5,000 employees, guide informed decisions about employee benefits.
Group Size and Health Plan Selection
In Missouri, all employer groups prefer PPO plans, with HDHPs following in popularity. Large groups contribute more towards family PPO plan premiums compared to smaller groups, influencing plan selection and affordability.
Industry-Specific Health Plan Preferences
From Wholesale/Retail to Government/Education/Utilities, the report breaks down industry preferences, showing a notable inclination towards PPO plans. Professional services show increased interest in HDHPs, signaling a shift towards consumer-directed health plans.
Cost Contributions and Employee Deductibles
The report reveals that larger Missouri groups enjoy lower PPO plan deductibles, while small businesses face higher than national medians. The detailed breakdown of deductibles and out-of-pocket costs provides employers a comparative view for plan assessment.
Conclusion: Missouri’s Health Plan Benchmarks for Success
The report from UBA, equips Missouri employers with the benchmarks needed to offer competitive health plans that attract and retain talent.