The Kentucky 2023 Design and Cost State Report, in partnership with United Benefit Advisors (UBA), provides a strategic vantage point on health plan trends within the state. This year’s edition, drawn from a robust set of data from 164 employers representing about 19,000 employees, is a crucial tool for Kentucky employers looking to benchmark their health plans against regional and national standards. With comprehensive coverage of PPO, HDHP, HMO/EPO, and POS plans, the report delves into the intricacies of plan prevalence, cost comparisons, and employee contribution strategies.
Navigating through the Kentucky 2023 Design and Cost State Report, employers can compare their health plans to those offered by their peers in terms of type, costs, and employee contributions. The report reveals that PPO plans are the most prevalent in Kentucky, with a substantial share of the market also opting for HDHPs – indicative of a trend towards more “consumer-directed” health plans. Notably, these plans in Kentucky typically cost less than the national and regional averages, offering a competitive edge for local businesses.
Furthermore, the report addresses how Kentucky employers are setting monthly contributions and deductibles. For PPO plans, Kentucky employers generally contribute more towards both single and family premiums compared to national averages, indicating a commitment to employee health benefits.