Kansas City, Kan. – With prescription costs on the rise across the country, Compdata Surveys reviewed the cost of co-pays over the last three years in Pennsylvania. The Compensation Data 2007 – Pennsylvania results revealed prescription co-pay costs for all drug levels on each plan type have increased in the last year. In addition, the survey of 320 organizations reported co-pays on PPO plans have seen an increase over the last three years on all drug levels.
Non-formulary drugs have experienced a rise on all plan types since 2006. This year, PPO plans had the highest co-pay with $41.26, while POS pans had co-pays of $39.79. Since 2005, non-formulary co-pays for PPO plans have increased by 12.9 percent. A larger increase was seen in POS plans, 13.6 percent.
In addition, the cost of formulary drugs has also increased on all plan types in the last year. In 2005, the average cost of formulary drugs on PPO plans was $22.58. This number has increased by 8.6 percent over the last three years. Indemnity plans had the highest formulary cost this year, $24.60, while POS had the lowest, $22.70.
In comparison, co-pays for generic drugs have increased as well over the last year and currently range between $10.70 and $11.60. According to the 2007 results, PPO plans have an average co-pay of $11.51 for generic drugs, and HMO plans are at $11.07. POS plans had the lowest co-pay, $10.74.
"Despite reductions in health care coverage, the results have shown employers are still offering prescription plans as part of their health insurance," said Amy Kaminski, manager of marketing programs for Compdata Surveys, the nation’s leading compensation and benefits survey data provider. "In 2007, 97.7 percent of organizations reported offering prescription coverage with their PPO plans. And, at least 93 percent of companies offering Indemnity, HMO and POS plans provide prescription drug coverage."
About the Survey
Compensation Data 2007 – Pennsylvania contains data on 525 job titles ranging from entry-level to top executives. Information was collected on more than 312,000 employees across the state. The results provide a comprehensive summary of pay data, benefits information and pay practices with an effective date of March 1, 2007.
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Data is collected annually from thousands of organizations across the country. Compdata Surveys has been providing accurate, reliable data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Lane Odle at (800) 300-9570 or lodle[at]compdatasurveys.com.
The HR industry´s premier online community and resource for Human Resource professionals: HR, human resources, HR community, human resources community, HR best practices, best practices in human resources, online communities for HR, HR articles, HR news, human resources articles, human resources news, HR events, leadership, performance management, staffing and recruitment, benefits, compensation, staffing, recruitment, workforce acquisition, human capital management, HR management, human resources management, HR metrics and measurement, organizational development, executive coaching, HR law, employment law, labor relations, hiring employees, HR outsourcing, human resources outsourcing, training and development
hr.com.
human resources management resources for hr professionals. |
HR menus
|
HR events
|
HR Sitemap