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from the issue of February 26, 2004
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Year-end health plan report shows increase in costs
University of Nebraska Central Administration provided this information about the expenses of the universitywide health plan on Feb. 16.
The following is a year-end status report on the University of Nebraska health plan. The plan is self-funded, meaning that costs are paid by a combination of contributions made by the university and premiums paid by employees, retirees and others who benefit from the plan.
In the past five years, our health costs have almost doubled.
• 1999 cost: $44 million
• 2000 cost: $52 million
• 2001 cost: $58 million
• 2002 cost: $62 million
• 2003 cost: $75 million
In 2003 alone, health care costs rose by more than 23 percent for active employees and 37 percent for retirees. As a result, our health care plan experienced record-high expenditures, ending the year with a $1 million deficit.
The main reason for these increases was an unprecedented number of cases over $25,000. The plan had 320 such cases totaling $23 million in 2003, compared to 236 cases totaling $14 million in 2002. In 2003, there were seven cases in excess of $300,000 (totaling $4.7 million), compared to none in the previous year.
Over the next few months, we will provide additional information on your health care plan. If you have questions, please call the UNL Benefits office at 472-2600.
GO TO: ISSUE OF FEBRUARY 26
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Year-end health plan report shows increase in costs
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