Human resource, benefit and finance professionals from the Philadelphia region gathered Friday, October 12 in the stately Union League of Philadelphia for the KELLY University Fall Benefits Symposium, hosted by KELLY Benefit Strategies.
Keynote speaker Matthew Rae, senior policy analyst at the non-profit Henry J. Kaiser Family Foundation, shared key findings from the recently published 2018 Employer Health Benefits Survey, an annual detailed look at trends in employer-sponsored health coverage. The 250-page report serves as a reliable, credible and free source of information to aide employers and consultants in making benefit decisions.
As co-author of the survey, Mr. Rae’s keen insight and engaging presentation of the 20th annual survey provided attendees a personalized explanation of KFF’s findings. “The survey review was strong and provided greater clarity into trends,” said David Waterstram of Caring People Alliance. Some key highlights and points of emphasis from the presentation include:
- Moderate premium increases this year, but average family premium is approaching $20,000 (currently $19,616)
- 212% cumulative increase in single-coverage deductibles among all workers since 2008
- Deductibles growing four times faster than premiums and eight times faster than employee earnings
- HDHPs are gaining popularity. The report reveals 29 percent of plans offered are high deductible with a savings option
- 21 percent of all claims spend is attributed to pharmacy
- Opioid and addiction treatment spending has increased from $3-$25/per person since 2008
- 85 percent of large firms offer telemedicine, but there is very low utilization (less than 1 percent)
The event’s bonus session featured Dr. Bruce Panasuk, retired thoracic surgeon and certified facilitator of Stephen Covey’s The 7 Habits of Highly Effective People. As part of an ongoing professional growth series, Principles for a Better You, Dr. Panasuk inspired attendees to consider the “whole person paradigm” from Stephen Covey’s The Eighth Habit, when working toward personal and organizational excellence. Examining the different dimensions of the whole person, Dr. Panasuk discussed the components of emotional intelligence and how they correspond to Covey’s 7 Habits. Effective leaders can become great when they successfully put the principles embodied in the 7 Habits into practice not only for themselves, but for those they lead. Andrea Lamy of Fairmount Long Term Care said, “After listening to Dr. Panasuk, I always leave KELLY University events feeling inspired!”
The next Philadelphia-area KELLY benefits symposium will be held on Friday, February 22 and will focus on pharmacy and compliance updates.