Do employees rank health insurance benefits above pay? If so, why?

According to a recent study released by Hewitt Associates, those employees in mid-sized to large companies across the United States rank health insurance benefits as a more important factor than compensation.

Moreover, consumers claim that they want more control over and choice of health insurance and express interest in the new consumer-choice models.

Jack Burner, national practice leader for Hewitt’s health management practice claims, “It’s not surprising that health care is becoming more important to employees as both the economy and labor markets are declining.” Thankfully, more and more people are starting to realize that other than compensation, it is also highly important to have the proper health coverage.

Here are the following health insurance enhancements that are listed as priorities by both employees and employers:

• Access to internet data on medical conditions and treatments

• Access to advocates to resolve certain disputes and issues with health plans

• Access to experts for advice on doctors, hospitals and on treatment options, as well

• A wide of choice of health plans

• Options that will allow employees to reduce the cost of the coverage that is necessary for them

Can you honestly blame employees for considering health insurance and benefits as a number one priority? High compensation often catches the attention of many consumers, or at least, it used to.

Benefits are an excellent way to give employees proper coverage. Individual insurance policies are often much more expensive than group life insurance policies, which is why so many consumers prefer group insurance instead.

Even though individual health insurance policies often do provide a wider range of coverage, and more freedom of choice when it comes to choosing the necessary protection, that doesn’t necessarily mean that it is the best option. Often times, the group health insurance that employers provide is both convenient and a good deal for consumers.

However, because of the fact that many consumers prefer not to be dependent on a company’s group health plan and prefer a separate policy, which is also understandable.