Press Release Archives
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Eastbridge
Consulting Group finds that employers are committed to
providing employees a strong benefits package
AVON,
CONNECTICUT, USA (March 13, 2007)
This was one
finding in the latest spotlight report from Eastbridge, Worksite
MarketVision™—The Employer Viewpoint Revisited.
The report updates the landmark MarketVision™
study of 2002 as well as several other employer studies conducted
over the last three years.
A
somewhat surprising finding was that, despite all the press
coverage about employers wanting to reduce their benefit
costs, employees still have access to a significant range
of insurance coverage and employers seem committed to continuing
to offer this range. More than nine out of ten employers
offer medical, prescription drug, and dental insurance. About
80 percent offer term life, accidental death and dismemberment,
and short-term and long-term disability coverage to employees
(either as employer-paid, employee-paid, or on a cost-sharing
basis). Few employers are looking to reduce the number of
benefits or cut benefit amounts.
“Attracting
and retaining employees and increasing employee job satisfaction
are the two most important goals of benefit plans according
to benefits managers,” says Bonnie Brazzell, vice president,
Eastbridge. “Employers are using both employer-funded
benefits as well as voluntary benefits to help achieve these
goals,”
adds Brazzell. Voluntary benefits help employers offer a full
range of benefits while still controlling their costs.
“The
percentage of employees in the U.S. who have access to voluntary
benefits through their employer was up in this recent survey,”
says Gil Lowerre, president. Seventy percent of employees (in
businesses with at least 10 employees) have access to these benefits,
up almost two points from past studies.
“The increase comes despite a decrease in the percentage
of small employers (10 to 100 employees) offering voluntary,”
adds Lowerre. In fact, most of the other employer size categories
saw increases in the percentage offering voluntary (especially
in the 101 to 500 employee size category).
The Worksite
MarketVision™—The Employer Viewpoint Revisited is
now available for purchase. The study results are based
on quantitative interviews conducted with benefit managers
during June and July of 2006. The interviews include roughly
the same number of employers from each of four different
size categories (10-100 employees; 101-500; 501-2,000;
2,000+). Qualitative interviews were conducted with additional
plan administrators. For more information on this report
or to order it, call (860) 676-9633 or email the company
at info@eastbridge.com.
Eastbridge
Consulting Group, Inc. is a marketing advisory firm serving
insurance and financial services organizations in the United
States and Canada.
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