Whether you’re vetting a new product, analyzing a current client’s needs, or looking for a powerful statistic to pull out of your pocket in a new client meeting, these are the benefit numbers you need to know.
90%
of employees ranked wanting quality healthcare benefits over a pay raise.¹
Healthcare coverage is the
#1 benefit
that employees value in any industry.²
RISING PREMIUMS
47%
increase in the last decade.³
5.2%
projected increase in 2022 alone.⁴
Higher Deductibles
13%
increase in the average deductible over the
last 5 years.⁵
In 2022, the minimum deductible for High Deductible Health Plans (HDHP)⁶:
$1,400 (Individual)
$2,800 (Family)
$2,203
the average individual deductible for a HDHP in 2020.⁷
213(d) EXPENSES
Health expenses that are eligible for reimbursement are determined by the IRS in section 213(d) of the tax code. These qualified expenses go beyond what primary health insurance plans typically deem medically necessary. Examples include LASIK, prescribed massage therapy, adult orthodontia, wigs and other durable medical equipment.
Limits
Max annual contribution limit for HSAs (2022)⁸:
$3,650
(Single)
$7,300
(Family)
Max annual contribution limit for FSAs (2022)⁹:
$2,850
RX Costs
5% average increase in 2022 alone.¹⁰
1/3
of companies since 2021 are revising compensation and enhancing benefits as their top business agenda for the next 12-18 months.¹¹
85%
of employers recognize how important supplemental health insurance benefits are to their rewards strategy and employee value proposition.¹²
81%
of employers choose supplemental tools to enrich their already existing core benefits strategy.¹³
54%
is the likelihood that employees will feel valued/ appreciated if their employer offers benefit packages that meets their needs.¹⁴
90%
of employees who had access to 10 or more benefits were confident they could afford the healthcare they needed.¹⁵
About ArmadaCare
A leading insurance program manager, ArmadaCare delivers uncommon health insurance solutions designed to enhance ordinary health benefits. With the steadfast belief that health insurance should be better, ArmadaCare’s plans fill voids in coverage for routine and unexpected healthcare expenses, offer valuable health and productivity support services and invite usage with modern conveniences, education touchpoints and people-first service. The result gives our clients the edge they need to retain, recruit and reward talent at all levels.