Employees seek balance between medical care premiums and pocket expenses

When asked to identify the most important labor consideration, 56% of respondents selected compensation, which has been a growing trend since 2022. Although flexible work arrangements are even higher than the benefits in importance for employees, this year’s survey reveals a decrease since 2021. A reason could be that hybrid and remote work options have become a standard.

For the first time in the seven years of survey history, plans 401 (k) linked to dental insurance as the second major major benefit for employees. The general importance of a 401 (k) benefit has increased by 11% since survey 2022. There is a significant gender gap, with 59% of women surveyed that qualify 401 (k) as important compared to 66% of men. Perhaps with the financial uncertainties of the pandemic in the rearview mirror, the workers are focusing on financial well -being, seeking to ensure their future and want the support of their employer.

Employees are browsing the challenge of balancing health insurance premiums with pocket expenses while preparing for unexpected medical care costs. Many focus on keeping the premiums as low as possible, although almost so many prefer higher premiums to avoid paying more at the time of attention. However, over time, more employees have changed to lower salary deductions for medical care costs, even if that means adjusting other benefits.

Employees want more and more flexible and personalized options to address their own situations, including the needs of their family. Of the respondents, the three quarters expressed interest in receiving personalized recommendations for benefits. Although the survey found that employees feel valued by their employers due to the medical benefits provided, and even more due to non -medical benefits, volunteer benefits are underestimate.

“Smaller employers often struggle to provide personalized benefits due to prohibitive costs and limited options for plans and operators, however, the solution lies in maximizing the value of their offers,” said the survey report. “By prioritizing flexible offers that fit the real needs of employees, companies can promote a more satisfied and committed workforce and make every dollar spent benefits count.”

“With a constant change in the panorama of medical care, national and global regulations and economies, it is essential that employers help employees navigate these uncertainties,” the report concluded. “The objective is to offer a better general experience of employees and make employees feel valued, all to boost employee retention and attract the best people.”