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New 2015 Lindex® Scores Revealed!

2015-Lindex---Master

Details coming soon on how to purchase our 2015 Iowa Employer Benefits Study© and/or Lindex Online® benchmarking tool.

We’ve just released the new Lindex® scores based on our 2015 Iowa Employer Benefits Study©. Introduced in 2013, the Lindex is an innovative tool that allows Iowa employers to distill voluminous and complicated benefits data into one relevant number.

An organization’s Lindex score will help Iowa employers:

  • Determine the competitiveness of their benefits package.
  • Attract and retain a high-quality workforce.
  • Decide whether benefit changes are required to keep your employee benefits competitive.

The Lindex is a composite score used as a reference when determining the quality of benefits offered by Iowa organizations. This index is the result of a sophisticated calculation based on the benefits data submitted by 1,001 Iowa organizations from the latest 2015 Iowa Employer Benefits Study©.

Calculated once a year, the Lindex ranges from 0 to 100, with low scores reflecting fewer benefits offered at a higher cost to employees, while higher scores indicate more benefits being offered at a competitive cost.

In 2015, the overall Lindex score for Iowa employers (regardless of employer size and industry) is 71. Last year’s overall Lindex score was 74, while the inaugural year (2013) scored at 72. A few primary reasons for the overall score dipping three points from 2014 is a result of fewer small employers offering health and dental coverage.

The Lindex score will vary based on the employer size and industry, which are two determining factors that effect employee benefits. For example, employers with fewer than 10 employees have a Lindex score of 57 (61 in 2014), while employers with at least 1,000 employees averaged 87 (82 in 2014). Employers in the retail industry averaged 60 (65 in 2014), while government employers averaged 91 (83 in 2014) .

Below is a summary of the Lindex scores based on organization size:

2015 Lindex - By Organization Size

 

Below is a summary of the Lindex scores based on industry:

2015 Lindex - By Industry

 

It’s important to note that an organization with a Lindex score of 62 might appear to be somewhat low when compared to the overall statewide score of 71, but if this score is above the average Lindex score for similar organizations based on size and industry, then it could be considered a competitive score for that organization.

Our 2015 Iowa Employer Benefits Study© and/or Lindex Online® benchmarking tool will be available for purchase within the next week. Please continue to check our website for details.

Should you wish to learn more about the Lindex, and how your organization can discover/attain/retrieve your own Lindex score, please visit the Frequently Asked Questions (FAQ) section of our website.

To stay abreast of employee benefits and healthcare issues, we invite you to subscribe to our blog.

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