1 in 3 Workers Would Pay More for Health Benefits
A new survey shows that 38% of workers would pay for more generous health benefits.
Healthcare providers and health plans may be able to capitalize on a finding from a study by Willis Towers Watson.
Thirty-eight percent of U.S. workers may be willing to pay more each month for better health plans, according to the survey.
The survey tallied the responses of nearly 5,000 U.S. employees.
More granularly, health plans and health service providers may be able to exploit the following opportunities:
- More than half (55%) of employees would accept a more generous health plan in exchange for an equivalent change in pay.
- Choice and flexibility increase employee appreciation of their benefits packages, says Julie Stone, a managing director of health benefits for Willis Towers Watson.
- 65% said managing their health is a top priority in their life.
- Only 39% said the initiatives offered by their employer to support health and well-being meet their needs; 66% say their current healthcare plan meets their needs.
- 46% said they would be willing to pay a higher amount out of their pay each month to have lower, more predictable costs when actually using healthcare services.
- 51% said employers should financially reward employees for living healthier lifestyles.
If employees were in charge of their own benefits budget, they would allocate 27% to healthcare services and health and well-being plans, according to the survey. That's slightly less than the 31% they would allocate to retirement and financial well-being plans. The remaining portions of the budget would go to life insurance, vision and personal insurance, and annual leave.