Medical Benefits

Employee Medical Benefits Summary Rhode Island

Medical benefits are important for a well-rounded employee compensation package. In the state of Rhode Island, there are approximately 600,000 people who have health insurance coverage, whether you work for a company like Citizens Financial Group or an oceanside boutique.

If an organization has more than 50 employees, the Affordable Care Act (ACA) requires them to provide health insurance. This can be achieved in a variety of ways. As a result, we have divided out what medical benefits look like for both small businesses (1-50 people) and large enterprises (51+ people).

Small Employer Guide to Medical Benefits

Cost & Coverage

Among Rhode Island small employers, 68% provide access to medical benefits for their employees, and 65% of employees take full advantage of the offering. With 29,200 small employers in Rhode Island representing over 110,000 employees, the employer covers an average of 75% for single employees and 70% for families. From this, the employer pays approximately $483 each month for an individual and $1321 for a family. The employee also has a monthly premium to pay, which costs $160 for a single employee and $561 for a family. The individual family component can cost $366 at the 25th percentile to $721 at the 75th percentile.

Plan Design

When it comes to choosing a health plan, 21% of individuals select a high deductible health plan, 18% choose an HMO, and 38% select a PPO. Having several plan options allows for coverage alternatives that range from a restricted network with access to only certain PCPs, specialists, and hospitals to an open network with worldwide accessibility.


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Tax Advantaged Accounts

Rhode Island small employers may assist and manage costs by providing tax-optimizing health savings accounts (HSAs) or healthcare flexible spending accounts (FSAs). HSAs are offered by 33% of Rhode Island small businesses, while FSAs are available by 44%. Both options are fantastic ways for small companies to help their employees budget for medical bills in the most cost-effective manner possible.

Dental and Vision

Dental coverage is provided by 40% of small companies, whereas only 14% provide vision benefits, which is considerably lower than that offered by big businesses. This is a significant sought-after advantage considering that 76% of employees utilize dental benefits and 78% use vision benefits. As a result, both dental and eye care are essential services for employers when choosing their comprehensive health insurance package.

Large Employer Guide to Medical Benefits

Cost & Coverage

Amongst 12,000 large employers in the state of Rhode Island, medical coverage is provided to over 519,000 individuals. However, the monthly premium they cover varies. For individuals, large Rhode Island employers cover 78% of the monthly premium while also paying 78% of the premium for families. Larger employers are generally able to provide many comprehensive medical benefits, which is understandable, and 71% of individuals take advantage of this benefit when offered. With a large percentage of the monthly premium covered by the employer, this equates to an average of $547 per month for single employees and $1630 for families paid for by the employer. On the employee side, this will cost an average of $158 per month for individuals and $454 for families, with costs ranging anywhere from $105 each month for a family at the 25th percentile and $193 for a family at the 75th percentile, however, if you work for a few select Rhode Island large employers, 5.7% cover all medical expenses for single individuals, and 3.6% cover all expenses for families.

Plan Design & Cost

Depending on the employee demographics, plan types can be selected for a variety of reasons. In Rhode Island, 43% of workers opted to join a PPO plan, 19% chose an HMO, and 35% selected a High Deductible Health Plan (HDHP). The difference in plan type affects the amount of coverage employees receive at doctors and other medical facilities. It also influences copayment rates, deductibles, and other aspects.

Tax Advantaged Accounts

It's critical to give workers options for managing their medical expenses tax-wise. The Flexible Spending Account (FSA) and Health Savings Account (HSA) are two of the most common methods. 53% of large Rhode Island employers offer an HSA, while 71% provide an FSA to their employees.

Dental & Vision

Large companies, on average, have a greater variety of dental and vision plan choices than small businesses. Largae employers in Rhode Island offer dental plans to their workers 64% of the time, with 81% taking advantage of that option. 31% of larger businesses offer vision coverage while 78% take advantage of it.

Medical Benefits Considerations

If you want assistance in selecting a top medical insurance broker that focuses on your region, contact Mployer Advisor right now. Whether you're a small or big business in Rhode Island, choosing a broker is a significant choice.


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