Benefits Trends: Portrait of Employees Making Less than $50K Annually

Columbus Chamber
The Columbus Chamber provides connections, resources and solutions that help small businesses and Fortune 500 enterprises grow Central Ohio's economy.

Member Insights by Aflac

BENEFITS IQ

  • 54% don’t understand everything in their major medical/health insurance policy, including things like deductibles, copays, providers in their network, etc.

BENEFITS COMMUNICATION: Employees would prefer an insurance agent to communicate with them…

  • through email
  • by phone or text
  • in person
  • through mail
  • in an online chat

VOLUNTARY INSURANCE: Medical events such as accidents and illnesses can be expensive – and many employees admit they aren’t prepared to pay out-of-pocket costs that may not be covered by major medical insurance. Voluntary insurance can help make unexpected medical costs more affordable and less of a burden to your workforce.

  • 82% see a growing need for voluntary insurance.
  • 74% say that if offered by their employer, they would be at least somewhat likely to purchase voluntary insurance benefits.
  • 90% at least somewhat consider voluntary insurance benefits to be a part of a comprehensive benefits program

MEDICAL EXPENSES

  • 82% have less than $1,000 to pay out-of-pocket expenses associated with unexpected serious illnesses or accidents.

JOB PERFORMANCE

  • 50% say their benefits offerings are extremely or very important to their work productivity

HEADED OUT THE DOOR?

  • 55% say they’re at least somewhat likely to look for a new job in the next 12 months.
  • 38% say improving their benefits package is one thing their employers could do to keep them in their jobs.

LOYALTY

  • 86% say a benefits package offering is at least somewhat important to loyalty to employer.

BENEFITS PROFILE

  • 88% Are offered major medical insurance through their employer.
  • 58% Are offered life insurance through their employer.
  • 44% Are offered disability insurance through their employer.
  • 17% Are offered voluntary insurance through their employer.

The 2017 Aflac WorkForces Report is the seventh annual study examining benefits trends and attitudes. The study’s surveys, conducted by Lightspeed GMI, captured responses from 1,800 benefits decision-makers and 5,000 employees across the United States in various industries. For more information, visit AflacWorkForcesReport.com. This piece is for informational purposes only and is not intended to be a solicitation.