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What is the #1 most popular employee benefit in the US? According to Forbes, that's employee sponsored health care coverage: 67% of employees and 68% of employers ranked it first. If you thought it was a retirement plan, that only got 34% of votes. Paid time off also ranks highly at 31%, but not as high as health insurance. Do you know what employees value concerning health coverage?
Health care is expensive. Kaiser Permanente reports the 2021 figure of $13,000 per person. Although 67% of employees scored it the #1 benefit, their research showed 87% of employees considered these benefits valuable. Research reported by ADP shows at smaller companies (20-49 employees), 74% saw health insurance as an important factor when deciding if they would work at a specific company. Unsurprisingly, the older the employee, the more they value health care coverage. ADP reports 67% of boomers and Generation X rank it highly vs. 57% of employees from younger generations. Health care may be expensive, but in a competitive job market, it may be the determining factor when it comes to someone accepting your job offer or choosing to work somewhere else.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
