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McGraw Wentworth Launches Survey to Benchmark Employee Benefit Trends in Michigan
Date:2/15/2008

Survey will show what top-performing organizations are doing to hold the line on health care cost increases. 500 employers expected to participate.

TROY and GRAND RAPIDS, Mich., Feb. 15 /PRNewswire/ -- Experts predict health care costs will increase between 8% and 12% in 2008. The impact of these increases will have a major effect on Michigan employers that are, in some instances, fighting for survival while others are competing globally for high tech talent. What are top-performing companies doing - or not doing - to achieve lower-than-average cost increases in employee health benefits? Data for decision-making on these questions and more will be gathered in the McGraw Wentworth 2008 Mid-Market Group Benefit Survey beginning February 18.

The survey will provide local data regarding the extent of cost control strategies such as higher deductibles, higher pharmacy and office visit co-pays, Health Savings Accounts (HSAs) and spousal surcharges on health care costs. The survey analysis also will provide a Total Cost Ratio comparing what Michigan employers and employees pay in total for benefits in 2008 including premiums, employee payroll contributions and out of pocket costs.

No company in Michigan should be without the survey information say organizers. Every mid-sized employer with 100 -10,000 employees in southeast and west Michigan - whether in the manufacturing, technology, service, government, education or not-for-profit sector - will benefit from the survey which provides local market data that accurately benchmarks an organization's competitors.

"The Mid-Market Survey provides real-time data about what is happening in Michigan which continues to offer a substantial level of employer-sponsored health care," says Tom McGraw, President of McGraw Wentworth. "Survey participants will have a statistically valid tool to evaluate future plan designs and cost sharing without inadvertently making their benefit plan non-competitive."

The survey will examine approximately 125 high performing trend setting organizations (TrendBenders(TM)) that have successfully kept cost increases at 0% to 2%, managing their costs using a variety of plan design strategies.

The survey is sponsored by McGraw Wentworth, one of Michigan's largest employee group benefit consulting and brokerage firms with offices in Troy and Grand Rapids. There is no charge to participate. Employers who complete the online survey will be invited to participate in one of several interactive survey report sessions to be held in May and June. All data will be confidential. To register, call Mitsy Morris at McGraw Wentworth, (248) 822-6261 or visit mcgrawwentworth.com.

Contact: Patricia McCarthy

(313) 882-9200

Ryan Bowers

(248) 822-6231


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SOURCE McGraw Wentworth
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