Introduction to Health Plan Trends in New Hampshire
The “2023 New Hampshire Design and Cost State Report” showcases detailed insights into the design and cost of health plans across the state. Compiled by United Benefit Advisors in collaboration with 1706 Advisors, this report offers invaluable benchmark data for employers and HR professionals.
Dominance of HMO/EPO Plans Over PPOs
Unlike the national trend where Preferred Provider Organization (PPO) plans are predominant, in New Hampshire, Health Maintenance Organization (HMO) and Exclusive Provider Organization (EPO) plans cover more than half of the insured, making them the most popular choice among employees. The report provides a thorough analysis of the plan distribution and the reasons behind this unique trend.
Cost Analysis and Employer Contributions
The report reveals that HMO/EPO plans in New Hampshire generally cost more than both national and regional averages, with employers covering a significant portion of premiums. This section delves into the specifics of monthly contributions and how they compare with national figures, highlighting the financial implications for businesses.
Strategic Insights for Setting Premiums and Deductibles
Learn how New Hampshire employers can strategically manage premiums and deductibles based on the report’s findings. It includes detailed comparisons of median single deductibles and out-of-pocket costs across plan types, providing a strategic edge in making informed decisions about employee benefits.
Conclusion and Call to Action
For New Hampshire businesses aiming to stay competitive in employee benefits offerings, the 2023 report is a crucial tool. Employers are encouraged to consider the detailed benchmarks and trends to optimize their health plan strategies effectively.