Was hoping other companies similar in size and scope to ours (~20 employees, Series A company, pre-revenue, biotech) might be able to comment on the level of health benefits provided to employees.
Particularly, what % does the employer contribute to employee healthcare? To dependent healthcare?
We are trying to benchmark to the industry. Thank you!
Andrea - As a healthcare firm (albeit not your lane), we opted to go big on the employer contribution for healthcare benefits. We fund 100% of the premium for all employee enrollments, including families. It sounds like a big spend, but the incremental cost of this handling vs 100% EE only and some fraction less for dependant coverage creates far less painful stress than the value-add in recruitment and retention. My two cents.
We pay about 80% of expected costs and we involve all of our employees in the decisions we make about our health benefits program, which has allowed us to lower premiums and deductibles every year. We're in a level funded plan, we cover direct primary care for employees and we also use an HSA that essentially returns the amount of the employee contributions plus some. The HSA also covers dental and vision so we're essentially self-funding those (with a cap).
To be fair, this is our core business area so we have broad visibility into what's possible and even still, with 12 FTE in 8 states, it's still a little harder for us than for our larger clients.
You can see 50 different examples of top health plans here: https://healthrosetta.org/rosies/And if you're interested in learning more, we have a lot of free content here: https://healthrosetta.org/employers/
Do you offer plans to small startups?
Most of the benefits advisors that we work with work with small groups, some working with groups as small as 2 employees, depending on the state. Here is a map of all of the Health Rosetta Advisors. We provide education, software and services to these advisors to support them in offering better options to employers in their communities (and many of them will work throughout the state, some across state lines as well).
Feel free to email me if you have questions. firstname.lastname@example.org
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