Healthcare costs have skyrocketed over the past few years, and Penn State has not been immune to the increases.
Overall, Penn State’s healthcare costs have increased That includes a cost-per-employee that has risen to
$53 million from 2012 to 2016. $10,600 in 2016, up from $8,100 in 2012.
The gross cost per year to Penn State is $209,165,011, and the net costs – the total after employee premium contributions are deducted – of $173,504,588. Employees pay about $35.7 million, 20 percent of the costs.
Please note that all plan comparisons, plan designs and cost examples reference the 2017 plan details.
Learn more about how Penn State’s Self-Funded Plan Works
Penn State’s position is that it will not simply shift the increased costs on to individuals who use Penn State health care, but instead will take steps to address these increases by engaging employees to be more involved in the management of their health. Visit the Culture of Health page to learn more about these efforts.
Learn more about how Penn State plans to address the rising cost of health care benefits on the 2018 Plan Design page.