Cost Is Top Factor in Selecting Benefits

Wanted most by employees: comprehensive coverage at a reasonable price

By SHRM Online staff Oct 14, 2014
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When it comes to medical, dental and vision benefits, employees want comprehensive coverage at a reasonable price, according to a 2014 survey sponsored by WellPoint, a health benefits provider.

Survey respondents said a range of factors were important to consider when selecting benefits during open enrollment, and cited the following as “extremely important”:

Cost (67 percent of respondents).

Comprehensiveness of coverage (61 percent).

Customer service (60 percent).

Ease of use (58 percent).

Time-Consuming Factors

When it comes to what employees are spending their time on during open enrollment, the survey showed that:

Half of those surveyed (50 percent) said that figuring out costs was the most time-consuming aspect of health management.

Two-in-five also said it’s time-consuming to find health care providers that accept their insurance (41 percent) and to get their doctors to talk with each other in order to coordinate care (39 percent).

The survey was conducted in the U.S. during July 2014 among 1,005 adults, ages 18 and older.

Related SHRM Articles:

Navigate Generational Attitudes on Health Benefits, SHRM Online Benefits, October 2014

Mixed HSA Results Show Need for Education, SHRM Online Benefits, September 2014

Benefits Education Tied to Workplace Satisfaction, SHRM Online Benefits, September 2014

FSA Open Enrollment Reminders, SHRM Online Benefits, August 2014

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