Survey Shows Most Local Businesses Experienced Significant Increases in Medical Insurance Premiums for 2010
52% Experienced More Than an 11% Increase in Premiums
Stamford, CT. [March 17, 2010] It is with great excitement that human resources consulting firm, OperationsInc (OI) and management consulting firm, Performance-Solutions-Group, Inc. (PSG), announce the results of their 2010 Benefits, Compensation & Salary Survey —part of a series of HR-centric surveys relating to today’s workforce. 106 organizations in the Fairfield / NY Metro Area participated in this survey which focused on how businesses have been affected by the challenging economic climate & what their Benefit Plans, Compensation & Salaries look like in 2010 as a result.
The key findings from our survey:
- 16% of survey participants experienced an increase in medical insurance premiums of more than 20%
- Nearly 36% experienced an increase of 11% – 20%
- 41% said they increased an increase of up to 10% (NOTE – Many as a result of plan design changes that diminished coverage levels)
”Despite all the ways businesses are maneuvering, be it with higher deductibles or escalating co-pays, the result still is shocking” said David Lewis, CEO of OperationsInc. The inflation in this area year after year defies logic, superceding all other areas of business.”
Founded by David Lewis in 2001, OperationsInc (www.OperationsInc.com) specializes in HR solutions for small businesses and HR professionals. OperationsInc’s portfolio of offerings includes such services as: Human Resources Outsourcing, Recruitment Management Services, Benefits Administration, Outplacement Services, Exit Interview Services, Payroll Administration and Management and Staff Training.
Performance-Solutions-Group, Inc. (PSG) (www.performance-solutions-group.com) is a management consulting firm based in Stamford, CT founded by Wil Brewer in 2006, specializing in performance management, pay-for-performance compensation and diagnostic online surveys.
OperationsInc and Performance-Solutions-Group, Inc are both located at 992 High Ridge Road, Second Floor, Stamford, CT 06905.