Medical insurance is an important element of a whole compensation package. Providing high-quality, low-cost medical coverage for employees is an essential component of a complete compensation package. There are approximately 700,000 individuals covered by healthcare in Nebraska, whether you work for Union Pacific or Nebraska Methodist Health System.
The Affordable Care Act (ACA) states that if a company has more than 50 workers, it must provide health coverage. This may be accomplished in a variety of ways. As a result, we have divided out what medical benefits look like for both small businesses (1-50 employees) and large businesses (51+).
Among Nebraska small employers, 68% provide access to medical benefits for their employees, and 63% of employees take full advantage of the offering. With 30,300 small employers in Nebraska representing over 120,000 employees, the employer covers an average of 78% for single employees and 67% for families. From this, the employer pays approximately $454 each month for an individual and $1182 for a family. The employee also has a monthly premium to pay, which costs $127 for an individual and $580 for a family. The individual family component can cost $349 at the 25th percentile to $684 at the 75th percentile.
For small businesses, 27% pick a high deductible health plan, 7% choose an HMO, and 39% select a PPO. These varied plans provide various plans with different levels of coverage ranging from a restricted network that includes only certain PCPs, specialists, and hospitals to an open network that gives you access to many doctors and hospitals.
In Nebraska, 42% of organizations offer a Health Savings Account (HSA) and a healthcare Flexible Spending Account (FSA). With little cost to the employer, either option is an excellent method for employees to manage their medical expenses in the most effective way possible.
Dental and vision perks must be considered when looking at your entire employee benefits package. Only 21% of small employers supply vision care, while 44% provide dental treatment. This is far lower than what we see among major businesses. When dental and vision care is available, 76% take advantage of dental treatments, and 79% use vision services.
In the state of Nebraska, 15,000 large employers provide medical coverage to over 615,000 individuals, with 69% taking advantage of the benefit. Larger employers, compared to smaller ones, are generally able to provide most comprehensive medical benefits. On average, Nebraska employers cover 80% of the monthly premium for single employees and 75% of the premium for families. On the employer side, this equates to a monthly premium average of $515 per month for singles and $1459 for families. For employees, this costs an average of $125 per month for single employees and $483 for families, with costs ranging anywhere from $73 each month for a family at the 25th percentile to $145 for a family at the 75th percentile. However, if you’re lucky enough to work with a few select Nebraska large employers, 9.0% cover all medical expenses for single individuals, and 4.5% cover all expenses for families.
Employee types might influence plan designs. PPO enrollees make up 44% of employees at large Nebraska companies, while HMO members amount to 7% and High Deductible Health Plan enrollees account for 46%. The plan type influences the range of coverage provided by doctors and hospitals, as well as copays, deductibles, and other elements.
When it comes to big employers in Nebraska, 61% offer a Health Savings Account (HSA) and 70% provide a Flexible Spending Account (FSA). When assisting employees with their tax-advantaged medical spending, both an FSA and an HSA are crucial.
Large businesses, on average, provide more dental and vision plan alternatives than small companies. Large Nebraska employers provide dental policies to their staff 68% of the time, with 81% taking advantage of it, and 38% offer vision plans with 79% taking advantage of the benefit.
Whether you're a small or large business in Nebraska, selecting a benefit designer to create your plan's benefits is crucial. If you would like a list of organizations in your region that specialize in medical insurance, contact Mployer Advisor now.
.webp)
.svg){kind=small}
.svg){kind=small}
%201.svg){kind=small}
