Where are employers spending their benefit dollars? It's no surprise that health care accounts for the greatest percentage, but as employers look to combat rising health care prices with new solutions (or by cutting back services), what impact is it having on the benefit spend?
Utilizing 5500 form data from more than 41,000 plan sponsors between the 2016-2017 plan years, data analyst Eric Ryles, our colleague at ALM's research arm, Judy Diamond Associates, broke it down. "Health leads the way both in terms of raw dollars and percentage of change," he said in a recent webinar. "Everything else saw a smaller increase. Health is the place where the most money is spent, no surprise. But there were significant and traceable changes in dental, vision and other areas."
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Emily Payne
Emily Payne is director, content analytics for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
