BLR News

7/1/2002

Survey Finds Average Health Care Costs Rose 30% In Seven Years

(BUSINESS WIRE)—March 25, 2002—The average health care costs continued to rise in 2001 according to Business & Legal Reports, Inc. (BLR). In fact, the average cost per employee has risen approximately 30% over the last seven years! In 1995, the average cost per employee was $3,049. This figure jumped to $4,410 in 2001 according to BLR’s 2002 Survey of Employee Benefits.

Bruce Plent, J.D. and Managing Editor at BLR says that, "We are seeing a steady increase in benefit costs across the board of which health care costs are a major part. In order to stay competitive, employers who offer health care to their employees should compare those costs with what other employers in their area are paying."

BLR’s survey can help by providing industry specific information. Here are the average health care costs for 2001 by industry:

Manufacturing$4,673
Finance/Insurance$4,217
Health$4,273
Education$4,552
Government$5,313
Retail/Wholesale$3,750
Research & Development$4,818

"Health care benefits are just part of the package", says Plent. "Employers looking to attract the best employees must also look at what they offer for holiday pay, vacation pay, executive perquisites, part-time benefits, child-care, tuition assistance, and relocation to name a few."

BLR publishes the Employee Benefits survey yearly from data received from over 4,000 employers nationwide. Results of the survey are reported nationally, regionally, by size of employer, by public vs. private sector, by exempt and non-exempt, and by type of employer. Visit BLR’s Web site at www.blr.com or call them at 1-800-727-5257 for a free 30-day trial of any product. For a free synopsis of the survey, contact Muriel Wright at mwright@blr.com and include your mailing address.