Monday, August 25, 2014

Anticipating Cost Hikes

Inside Higher Ed
August 25th, 2014

Institutions say complying with the Affordable Care Act has caused them to pass on some costs to employees, according to a new survey from the College and University Professional Association for Human Resources.
Since the act began to take effect, some 20 percent of institutions have made changes to benefits in an effort to control associated costs, the survey says. About the same percentage of colleges are considering making changes, or making further changes, in the year ahead. Of those institutions that have made changes so far, 41 percent have increased employees’ share of premium costs. Some 27 percent have increased out-of-pocket limits, while about one-quarter increased in-network deductibles or dependent coverage costs, or both.  Some 20 percent increased employees’ share of prescription drug costs. 

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