As the health care industry works to overcome employee burnout and staffing shortages, children’s hospitals are examining ways to attract and retain employees with comprehensive benefit programs.

CHA’s 2024 Benefits Survey captures a detailed look at children’s hospital-sponsored benefits compared to prior years. With feedback from 25 hospitals, this year’s survey highlights hospitals’ challenges in meeting recruitment and retention strategies, while maintaining benefit costs.

Family premiums

Children’s hospitals are experiencing higher premiums for families than they were in 2022. The average total monthly premium is $2,470. The average employer-paid premium for employer-sponsored family health coverage is $1,950 (up 39%). Employees on average pay $520 toward the cost of their family coverage, an 8% increase from 2022.

Individual premiums

Children’s hospitals are also experiencing higher premiums for individuals than they were in 2022. The average total monthly premium is $850. The average employer-paid individual health coverage is $710 (up 39%). Employees pay an average of $140 (up 13%) toward their individual in-network coverage.

Deductibles

Deductibles for employee-sponsored health insurance plans were also higher, on average, compared to deductibles in 2022. The average individual in-network deductible among covered employees is $1,443, up 37%.

Benefit Advisory Services can help

CHA's team of industry experts can help children's hospitals and health systems balance these rising costs and guide you to solutions. The benefits survey is a resource as recruitment and retention strategies lead to ongoing benefit evolution.

Benefit Advisory Services can maximize the value of your benefits by enhancing your portfolio with coverages such as hospital indemnity plans, accident coverage, critical illness, and many other options.