Absence-related Full Costs are eight times employers' average medical payments, even when workers' compensation medical costs are added to group health. This is radically different from the traditional view that considers only employers' out-of-pocket benefits payments. In that view, group health payments predominate at 63% of all payments. Employers also will be surprised how much of their bottom line they “leave on the table” compared to best-in-group performers in their own industry group.
This report reflects the results of the Integrated Benefits Institute’s Full-Cost Benchmarking Study for participants’ health and absence-related benefits programs in 2002. Participants in 11 industry groups report aggregate data on short-term disability, long-term disability, group health, workers’ compensation, incidental absence and family and medical leave programs. In addition, companies report on demographic and benefits plan characteristics and key business metrics.