Regional Medical Premium Costs Increase by 13%

CandB Consulting Group, a strategically focused employee benefits advisory firm, today announced the results of their 2006 Benefit Plan Report, a compilation of regional benefits survey data.

Rising healthcare costs remained the number one concern of employers who participated in the benefits survey. This yearís results saw average annual premiums for medical coverage jump to almost $8,300 per employee. This is a 13% increase from the 2005 average. Cost-shifting to employees, however, was stable, as the percentage of medical plan costs paid by employees remained relatively the same across all plan types and tiers.

This is CandB Consulting Groupís 8th annual Benefit Plan Report that contains insightful information about cost control strategies, employee contributions, employee communication methodologies, wellness initiatives and many other benefits-related topics. Designed for employers as a useful benchmarking tool, the report allows benefits executives and managers to compare their benefit program components against survey data from anonymous organizations within the same region.

ìOur Benefit Plan Report is a great benchmarking resource for regional organizations that are looking to attract, motivate and retain talented workforces from the same local employee pool,î stated James Buonfiglio, President of CandB Consulting Group. ìIn past years, employers have found it useful in measuring the success of their own benefit plans, as well as discovering new strategies that may enhance their current benefit programs.î

The 2006 Benefit Plan Report has been compiled from the survey responses of 333 employers from New York, New Jersey, Connecticut and eastern Pennsylvania. Collectively, these organizations employ over 118,000 people with an average group size of 355 employees.