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[IWS] EBRI: VIEWS ON THE VALUE OF VOLUNTARY BENEFITS: FINDINGS FROM THE 2014 HEALTH AND VOLUNTARY WORKPLACE BENEFITS SURVEY [17 November 2014]
IWS Documented News Service
Institute for Workplace Studies-----------------Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor--------------------Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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Employee Benefit Research Institute (EBRI)
EBRI NOTES, November 2014, vol. 35, No. 11
VIEWS ON THE VALUE OF VOLUNTARY BENEFITS: FINDINGS FROM THE 2014 HEALTH AND VOLUNTARY WORKPLACE BENEFITS SURVEY [17 November 2014]
[full-text, 10 pages]
· Three-quarters of workers state that the benefits package an employer offers prospective workers is extremely (32 percent) or very (44 percent) important in their decision to accept or reject a job.
· Nevertheless, 34 percent are only somewhat satisfied with the benefits offered by their current employer, and 22 percent are not satisfied.
· Eighty-six percent of workers report that employment-based health insurance is extremely or very important, far more than for any other work place benefit.
· Workers identify lower cost (compared with purchasing benefits on their own) and choice as strong advantages of voluntary benefits. However, they are split with respect to their comfort in having their employer choose their benefits provider, and think the possibility that they may have to pay the full cost of any voluntary benefits is a strong or moderate disadvantage.
Press Release 17 November 2014
Workers Rate Benefits Important, Show High Take-Up Rates
WASHINGTON—The vast majority of workers say their benefits package is important to their decision
to take a job, as supported by the high take-up rates when benefits are offered, according to a new report
by the nonpartisan Employee Benefit Research Institute (EBRI).
Based on the latest results from the Health and Voluntary Workplace Benefits Survey (WBS) by
EBRI/Greenwald & Associates, workers also say overwhelmingly that health insurance is the most
important workplace benefit by far.
Specifically, the WBS found that three-quarters of workers state that the benefits package an employer
offers prospective workers is extremely (32 percent) or very (44 percent) important in their decision to
accept or reject a job. Among those offered the benefits, 80 percent or more signed up for health, dental
and retirement benefits.
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