Depending on the area in which a company operates, employee benefits could be much pricier, according to a recent report by Thompson Reuters.
There is a vast difference between the lowest amount spent on individual health insurance and the highest in the nation. In Ogden-Clearfield, Utah, individual worksite health benefits can cost as little as $2,623 annually. On the other hand, businesses in Anderson, Indiana, spend as much as $7,231 on individual employee health insurance each year, the source reports.
While the study found large discrepancies in healthcare costs, they did not find substantial differences in the quality of care, according to the source.
"Studying these geographic variations can help us identify locations where healthcare costs are less, yet the quality of care and outcomes are not compromised," explained Ray Fabius, chief medical officer at Thompson Reuters. "Understanding where, why, and how medical care costs less can provide solutions to control our nation's healthcare spending."
For those companies that find themselves in more high-priced healthcare regions, HR management systems could be tweaked to focus on creating a healthy workforce and reducing employee benefit costs.
Running and walking clubs, information on healthy eating and an emphasis on preventative care can all be stressed by benefits consultants as a means to lessening the burden of employer-provided health insurance.
