Hill, Chesson & Woody (HCW), a local benefits and consulting firm, has announced the launch of the 11th annual 2015-2016 Healthcare Benefits & Costs Survey. HCW partners with HR management firm Capital Associated Industries (CAI) annually to conduct this survey. Now in its eleventh year, this survey provides employers across the state with valuable information needed to manage their healthcare plans. Over 600 organizations participated last year, and this year participant counts are expected to surpass 700 by survey close, January 22, 2015.

This benchmark survey is the only state-specific survey that provides healthcare cost-related data about the marketplace. The findings will allow employers to compare their premium costs, health plan designs and cost-sharing arrangements to other companies of similar size and industry. The data gathered from the survey enables employers to identify areas of strength within their organization allowing them to maintain advantages, spot areas of opportunity where improvements can be made, and design a benefit strategy that meets organizational objectives for recruiting, rewarding, and retaining employees.

The survey is now easier to complete than ever before. Participants can enter their plan data in one of two simple ways. If participants have their plan information available and a limited amount of time, they will answer a few basic demographic questions, then upload the rest of their plan information. This version of the survey requires about 5-10 minutes. Employers that wish to participate by uploading their plan data via file upload may do so by visiting: http://bit.ly/1Uu3gOs

Should participants prefer to enter their information manually, they can do so through a user-friendly online platform. This version of the survey requires about 20-30 minutes, depending on number of plans. Participants must start and finish the survey in a single online session and are encouraged to first review the survey questions which may be found here. Employers wishing to participate by entering their plan data online may visit: http://bit.ly/1OKn8Pg

“As the economy picks up and the talent pool gets tighter, it is even more important to know how your employee compensation compares,” said Todd Yates, HCW CEO. “This benefits survey is the most comprehensive, local comparison to see how your health plan fits into the mix. It is invaluable!”

“Over the past couple of years, employers have been reevaluating and redefining the benefit norms,” said Skip Woody, HCW Partner and Lead Principal, Health & Welfare Consultant. “They are trying to remain competitive and take care of employees, while managing costs. This survey provides information about North Carolina employers – on what they are doing to control costs and how they are taking care of their employees. It’s a pretty critical benchmark.”

“Our intent is to reach out to North Carolina employers to address the pertinent issues related to medical insurance,” said Molly Hegeman, VP of HR Services at CAI. “Lots of data gets collected in this survey. We ask questions about cost, but we also ask about plan design, such as co-pays, deductibles, and out-of-pocket maximums.”