High Deductible Health Plans
Presented by Michael Brubaker
SDEA UniServ Director Unit 6January 27th, 2012
Why Some Employers and Plan Sponsors Push High-Deductible Health Plans
This is an area of discussion among employers that cannot be ignored! As health care costs continue to climb, employers search for ways to reduce their spending on the health plans they offer their employees. A recent survey showed that average annual premiums for single and family coverage in 2010 increased by 5 percent and 3 percent, respectively, from 2009 levels. While this rate of growth is slightly lower than the previous years, it is important to note that inflation dropped below zero while worker's earnings grew less than 2 percent in 2009.
Many employers have responded to rising health benefit costs by increasing the employees' share of the health plan premium, deductible, co-payment, and/or co-insurance amounts. An increasing number of employers have also turned to high-deductible health plans (HDHPs), often coupled with a health savings account (HAS).
An HDHP may save employer money in the short term, but most likely it will have a dramatic, negative, long-term impact on employees' out-of-pocket health plan costs and covered benefits.
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