It’s a time-honored tradition at the New Jersey Business & Industry Association – member companies report to us that the cost of employee health benefits is their No. 1 concern when running their businesses.
The results of the 2018 Health Benefits Survey tell us the same, but the efforts of member companies to bring their costs down are in full force. Businesses are offering their employees healthcare coverage with higher cost-sharing, higher contributions toward premiums and increases in deductibles, co-pays and co-insurance. We also saw a decline in member companies offering healthcare coverage to employees compared to our last survey in 2016.
Despite all of these actions, it is clear member companies, overall, continue to take less profits in order to maintain coverage, with the hopes of attracting and retaining their employees.