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Thursday, October 7, 2010

Employees Value More Employers that Offer Voluntary Benefits

WellPointImage via Wikipedia October 6, 2010 (PLANSPONSOR.com) - According to a survey conducted for insurer WellPoint, Inc., most employees (83%) think more highly of employers that offer voluntary insurance benefits than those that don't.
In addition, nearly 90% of respondents report that when it comes to accepting a new job, it is important that companies offer a full range of health benefits, including voluntary. More than half (56%) said it is "very important." 
U.S. Health Insurance Status (Under 65)Image via Wikipedia

According to a press release, eight in ten employees whose company offers voluntary benefits (82%) are satisfied with their benefits offerings, compared to 30% of those whose companies do not offer such benefits.
The top reasons employees cited for enrolling in voluntary benefits include cost savings (54%), greater protection for their families (50%), and ease of mind (44%).
Additional survey results include:
  • Two thirds of employees (67%) say their company currently offers voluntary insurance.
  • Specific groups of employed Americans are more likely to report their company offers voluntary insurance, including men (71%), those located in the Northeast region of the United States (74%), workers at large companies (81%), and those with an average household income of $50,000 or more (74%).
  • Only half of workers (56%) say they are knowledgeable about the voluntary insurance products offered at their companies.
  • The majority of workers agree (67%) that having their employer provide voluntary benefits would increase their productivity at work.
The survey was conducted online among a national sample of 2,500 Americans ages 18+ in August 2010.
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