Park City, UT (PRWEB) January 22, 2013
Today, Zane Benefits, Inc. published 3 studies on defined contribution plans. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in defined contribution and health reimbursement accounts.
According to Zane Benefits’ website, for many employers, traditional group health benefits and their costs are unsustainable. Since 1999, group health benefits costs have risen at a rate of 4 times wages. As a result, many employers are now considering a switch to defined contribution health plans.
Mercer Study on Defined Contribution Plans:
According to Zane Benefits’ website, Mercer surveyed more than 2,800 employers for an annual National Survey of Employer-Sponsored Health Plans. According to the survey:
1. 45% were either using or are considering a defined contribution approach.
2. 20% of companies with 10-499 employees plan to cancel their health plans in 2014.
3. 6% of large employers (500+ employees) plan to cancel their health plans in 2014.
J.D. Power and Associates Study on Defined Contribution Plans:
According to Zane Benefits’ website, the 2012 Employer Health Plan Study by J.D. Power and Associates indicates that nearly half of employers "definitely will" or "probably will" switch to defined contribution health plans in 2013. The study measures six key factors that affect employer satisfaction with health insurance carriers:
1. employee plan service experience;
2. account servicing;
3. program offerings;
4. benefit design;
5. problem resolution; and
EBRI Study on Defined Contribution Plans:
According to Zane Benefits’ website, a recent study by the Employee Benefit Research Institute (EBRI) indicates that employers plan to address rising healthcare costs with a defined contribution approach.
The study examined issues related to health insurance exchanges, possible structures of an exchange, funding, as well as the pros, cons, and uncertainties to employers of adopting them.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangement (HRAs) and defined contribution healthcare. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.