For the 354 institutions completing this year’s College and University Professional Association for Human Resources (CUPA-HR) survey, the median total premium costs for the three most common healthcare plan types (PPO, HMO and POS) increased 6.7% for employee-only coverage and 6.0% for employee + family coverage. Comparable increases last year were 7.3% for both types of coverage.
Median annual plan premiums increased to $6,396 for employee-only coverage and to $16,840 for employee + family coverage. The percentage increases in costs are less this year than in the preceding two years.
Among other findings:
- almost all responding institutions provide basic life insurance, long-term disability, paid time off, tuition assistance and retirement benefits;
- about a quarter of responding institutions provide child daycare, but most do not subsidize the costs (even fewer provide sick-child daycare);
- the median number of paid holiday days each year is 12 as is the median number of sick days (only a small percentage of respondents have a formal PTO plan combining vacation/sick leave and other benefits, and the median number of vacation days varies by employee category);
- 40% of respondents indicated that they pay the difference in salary for employees on military leave (and only for a short period of time);
- one-quarter of respondents have paid leave for a new parent over and above vacation and sick leave;
- almost all responding institutions (96%) provide tuition benefits for courses taken by full-time employees at their own institution (percentages are lower for spouses and children); and
- a majority of respondents utilize a 403(b) defined contribution plan for retirement benefits.