Over the last 20 years, the Employee Benefit Research Institute (EBRI) and Greenwald & Associates have surveyed employees to understand what types of benefits they value, how satisfied they are with those benefits, their perspectives on health benefits and health care, as well as the future of employee benefits. In the 2018 survey we find:
- Despite a tight labor market, fewer employees report that their employers are offering benefits: Health insurance remains the most frequently offered at 78 percent, followed by dental insurance at 68 percent and retirement savings plans at 67 percent.
- Likewise, fewer workers received benefits from their employers in 2018 compared to 2017.Declines can be observed in 8 out of the 10 most popular benefit offerings.
- The percentage of employees accessing voluntary benefits is only 12 percent. Of that, 61 percent say they do so because it is less expensive to buy it through their employer than on their own — more than the 51 percent who cited this reason in 2017.
- More employees are stressed by the prospect of not saving enough for retirement than about any other financial concern that might be addressed through employee benefits. This includes paying monthly bills or managing debt. Baby Boomers are more likely than Millennials to report that saving enough for retirement causes financial stress, while Millennials are more likely than Baby Boomers to report that paying monthly bills and student loan repayment cause financial stress.
- Employees are generally satisfied with their current benefits package. Just over one-half of employees (51 percent) indicate they are very or extremely satisfied with their benefits; another 30 percent are somewhat satisfied. The proportion that is not at all satisfied remains relatively low at 9 percent.
- More than one-third (37 percent) of employees indicate that their employer or benefits company provides no education or advice on benefits. At the same time, depending on the benefit, between 64 percent and 76 percent of employees report that it is either somewhat easy or very easy to find information on what is included.
- As such, in 2018, a majority (64 percent) of employees said they are extremely or very confident in their ability to make benefits decisions. That is up slightly from 2017 and represents a leveling off as this indicator had slipped each of the past two years.
Figure 10 Figure 7 Figur Figur Figur e 15 e 5 e 1 Figure 12 Percentage Reporting Education on Benefits From Employer or Benefits Causes of Financial Stress, by Generational Cohort, 2018 PercentagF ee of Employ elings Abou eet s Curr Repe ortin nt Ben g Ben efits, efits 2017 Off – e2018 red by Employer, Reasons for Purchasing Voluntary Benefits, 2017 –2018 About the EBRI/Greenwald & Associates Health and Workplace Benefits Survey Ease in Finding Information on Benefits Coverage, 2018 Fi A K C Am g o ppendi no ur ong nclus ewle 11 a , sele dge: C ion: x onfide c- tion o Th C H nc o e o f fin enfi w W 20 in B ade nc 1 ene i8 e a nce l iss ll fit W Do D ue B e in c S s isE t t ions ha m he t ploy m , 20 Fut ight 17 e ur b –e 20 e s e a18 d Un o d ................................ rf ess de Em edr ploy s thr tand oug e h e The e m Bp eloy ne ................................ ire B e fi e b ts e n ne e fit fist, sm ?o re e .............................. mployees are stress 11 ed Lisa Greenwald is executive vice president for Greenwald & Associates. Paul Fronstin is director of the Health Research The State of Employee Benefits: Findings From the 2018 Company, 2017 –2018 Baby Boomer Gen X Millennial 2017 –2018 2017 2018 2017 2018 by the prospect of not saving enough for retirement than any other financial concern, including paying monthly bills or and Education Program at the Employee Benefit Re Ve sea ry Er as cyh Ins Som tit eut whe at ( Eas EB y RI). This Issue Brief was written with assistance The A Em s se ploy 20 en in 1 e8 e E kyB now eRI ar/G s p ler de a ge setnw , of ba etld ne he& fit ir A s a bss ene roc e fit iaa s tce rv s H itaic rie a el s ac lb tom h a ased pnd one on W nt ot rhe tkop la a ty ny c pee j B ob of ene . bW efit ne hil s Sur fit e . eFi m ve g py ur loy (eW e 9 e B s a sh S) ow reexa s t gm eha ne ine tr a d 60 lly a p b sa e rr oa tc ised fied nt spe of wce it tm rh th up m lo eof y ees The survey examines a wide array of topics related to employee benefits, including employee knowledge of Health and Workplace Benefits Survey 2017 2018 Figure 12, Ease in Finding Information on Benefits Coverage, 2018 ............................................................................ 12 2017 2018 managing debt (Figure 6). Baby Boomers are more likely than Millennials to report that saving enough for retirement sa he fr cur om y ar lt e t he h c nt the b yb a e unde e rI ne e ns ne fit is tfit it su s, c ru s p se tte a s, inc onfide ’a nd s r cke tahe sea lg uding nc eis, rr e c he h 53 in m a w a lt nd p or h b e ak rk e c ein e e d rne s’ nt it gor s b fit ca ia e hoose s tne is l v st fa e fit a rcy ff t d ion w ts. or e o c m A is eny ions x aitk trh he e e v m ie , ca h w ea s w a ly s e lt nge h w e xpress c e ll a s d a ll. re s sa ur W ting od e he d tis a n a in t fy op a , c sk t e his the ion w n e ed ir r nr e a cp b on ollm it or out h th fide t a en rn ee nc on itr . te - b hose Of th he e in t ne alt he fit ose of h b s p he t he e w a n aho c e lt a kfit h c a ut m g s, t ho e a a. rk h r 54% e e s a sy ta c ha nd n sum te ng sh m b e,ould e s a r t Figure 13 Saving Enough for Retirement 43% 70% By Lisa Greenwald, Greenwald & Associates, and Paul Fronstin, Ph.D., Employee Benefit causes financial stress, while Millennials are more likely than Baby Boomers to report that paying monthly bills and not be B ae sc cr aibe use d tthe o t he sur offic vey e ha rs, t s breuest n conduc ees, or ot tehe d ov r sponsor er seves of ral ye Ea BrRI s, t , E he m 27% p stlo udy show yee Bene s t fitr e Re nds sea tr hcah I t ill ns ust titrut ate e- 39% Education and d op and rop en e tshe to nr ir ollm 51 at tp ite e ude nt rc, es t nt one .ow -Und ha arlf a de b rs ree tne a looki nding fits in t ng of the o bot sa wh t v or ek ym p ple one as of ce.y , b29 ene pfit ers is cent up arsl e ight hopling y fro to minc 20r17 ea.se coverage, and 13 percent are How Much Your Health Insurance Works Satisfaction With Benefits Package Offered by Employer, 2017 –2018 Figure 13, Satisfaction With Benefits Package Offered by Employer, 2017–2018 ....................................................... 13 January 10, 2019 • No. 470 30% 83% It's Less Expensive Than Buying on 51% Health Insurance 63% Res studeent a e rch I m loa pn r loyns e ep ea t s’ itut yc m ha ee nt nging caus pees fin rspeacnc tivia el s s a tr beout ss ( tFi he gir ur b ee 7) ne . fit s. Re see sea king rc h Fund to add a (E ne BRI w- E tyRF) pe , of orins the urir a nc sta eff (s. N Figuerit ehe 17 r )E . B FR or I nor emp E loy BRI er-s, t ERF lob he cha bie lle s or nge t a isk e ho s p wosit to ions prov ide on spe thec st i 78% fic rong polic y 16% Vis Ho ion w My M In O s uu cw ra h Y n no ce u Should Be Saving For 38% 39% 76% 61% 30% Paying My Monthly Bills 2017 2018 33% The Any in Wc BrS eais se co in e -sponsor mploye ed e b unde y the rst Eam nding ploye of e B be ene nefit fit s is Resea werlc ch I omns e,t it espe ute c(ia EB lly R Isi ), nc ae p trhe iva rtee , ap non pea -p rs t rofit o b , e nonp a laa crkt i— sa n, or public- Retirement 26% 58% proposals. 60E %BRI invites comment on this research. employee benefits package that employees want and need while still controlling t35% heir own as well as employee costs. Fi gure 14, Benefits Satisfaction Related to Job Satisfaction, 2018 ............................................................................ 13 The 2018 survey was conducted online June 21, 2018, using the Research Now consumer panel. A total of 74% A ligne Wh dat w Hit ealt h th De h Car ntal In ee ir C san t uop r C an o ce sfin t Un a dnc er Y ia ou l st r Heralt ess h ors, 88 percent report that retirement savings plans contribute the most toward a p pe olic rcPa e yiv yr ro e ell De d sea la dr u cc ctio kh o — n M r of g aka eni sb Ie t za Ene as tion, ie fit r to ed auc nd aG tion ree t nw haa t ld em &p A loy sse oe cs r iate ec s, e iv a eW fr aom shingt theon, ir em DC p lo by ae sed r. Mo ma re rk teha t 31% rn ese one ar-cth fir hirdm (3 . 7 The per20 ce1 n8 t) of 46% 68% Plan Such as Going to the ER or Doctor's Visit 21% 22% 1,025 workers in the United States ages 21 to 64 participated in the survey. The data were weighted by Buy The Des n e t al PrIn od su ucts ran a ce t Work 36% 38% 44% 74% In feelin tr Hg o av of duc ing Sfin avin a tgs nc ion ini Case al se oc f a u nr E it m ye. rg eH ncy ealth insurance tops the list, with 89 percent saying this contributes to financial security. Suggested 40% Citation: Lisa Greenwald and Paul Fronstin. “The State of Emplo 32% yee Benefits: Findings From the 2018 W For em Bp S b loy e dne aete a fit s indic cs p olle rov ca tio ide ten w trha s, ne ats tfun he w ir op d e ep d m or b pty loy u nit fiv er e ie or s pr su iv be a rf ne ta ec fit or e s c g in t ao ni his m za p ta rie on ny por s p . tr , ov St inc a ide ff luding ing s no w e a td s d he uc ona p aot tion o e te nt dia rb l y at d o EvB ric e RI e a con a h w nd bor e Gne rke efit e rnw s in ind s. Only ald & us 3t0 ries Figure 15, Feelings About Current Benefits, 2017–2018 .......................................................................................... 14 29% gende 50%r, age, and education to reflect the actual proportions in the employ 24% ed population. The H S ow at Hea altt h Sa e vin of gs Accou E nt (mp HSA) Woloy rks ee Benefits: Findings From the 71% 2018 Retirement Savings Plan ( HFi eg aur lth e a8nd ). Workplace Benefits Survey.” EBRI Issue Brief, no. 470 (Employee Benefit Research Institute, January 10, 36% 18% Ov p w Ae ss he rec orre c etnt ia he b t e e st s. A ne la as tfit e t d 20 td offe hit a y ion t erta ings he a rs, l WB ir te a he m rS e p E m lle oy m a ss p tee loy r frr ia or ee q ls m e ue b e Bnt ne e ane y , fit su b fit s p ec h a a Re rcov csea s r eide ss e re c tra d h I offe il atn tr st a trhe s d it e e ut d E or e uc B RI (aa EctB c ion o w RI om e) b m si a n how nd t od e: aG ht tio r e the n a p es: nw and // lta h i w ld fw ood ns w &ur .e A a serv b ss nc roc i.e or ic i a w g ets. /h or es e k Aha a s, s une ltve h/ 18H su p m ee a rp rv lt c loy e h ey - ne a m tnd d e nt - 67% I Want to Protect My Family From 37% 28% The Amount of Debt I Have (e.g. credit How to Budget, Reduce Debt, or Manage Your Fi He gurea 16 lt , 35h Most % an Imd por W tanto Berne kfit p in Ma lacke ing B Job e Dn ece isf ion its , 20 S 18 ................................ urve 19%y ............................................. 14 2019). an He E alt xph e I cted nsura Exp nce ense 34% 38% 40% 72% r p W ee m rm or ov pa k loy ide in pls low a e e c ee d s t -uc B o e a ane nd unde tion o fit com sr-n how st Su p ae rnd v tiety ion w a ha he for t atlt yg h s pood es of av w ing b or e s a k ne ec rfit s g coun s t row he t w y s, e or vak m lu sp ,e loy , and how eronly s in t sa25% t is 12 he fied se pe r indus tc he en yt a tindic rrie e s a wa itr th th e e tlik ha ose etly t he tb o eir see ne efit m k s, pw loy a the yes t rir or o retain 33% card debt, car Pe lrs oo an ns al , p Fina erso nn ce al sloans) 16% 29% 32% 69% 40% Vision Insurance t p ra e ele trir spe nt em . c et C n iv us te p s on to lam n p izhe a rb oale vlt ide h offe b r eoffe r ne infit grs t s s a eha d nd uc t fit a he t ion o indus alth n how cta rr ie es , a li t k s w o e inv te he ll a esse s t t w m he it one h fut high yu in t ret ur he of nov e rm ete p irrloy e a m nd e ee n ttb hin p en la en m fit . as. rN got ina s m blyight , the le se adfigur to ne es a w ppear How to Best Use Preventative Services Under 64% I Want to Protect My Family From a 22% By Lisa Greenwald, Greenwald & Associates, and Pa 30% ul Fronstin, Ph.D., Employee Benefit Figure 17, Making Changes to Benefits, 2018 ................................................................ 39% ........................................ 15 Copyright Information: This report is copyrighted by the Emp 23% loyee Benefit Research Institute (EBRI). It may be A Medical Issue Y T ou hr at H W ealt ill h D P ep lan lete My The 20 Los1 s o 8f Isu ncom rve e Sh y ow uld a So s c mond ethinuc g ted online June 21–27, 2018, using t16% he Research Now’s online consumer research panel. A 30% d bow usine n a ss cr. os Sim s ail ll c ara lyt, eg aor s tie he s ( pFrigur opor et ion o 10). f younger workers grows and Baby Boomers retire, benefits providers will need 14% Life Insurance 31% 39% 35% 69% Res Sav ea ings rch I /Put Mns e in a titut Bad Pe lac e Financially Happen to Me 64% How to Invest the Money in Your Retirement 10% used without permission but citation of the source is required. 28% This total o Isf 1, sue025 Brie Lif w f e I or p nr sk u ov ra er nide s in t ce s ahe sum Unit me ad ry St of atte he s a rg ec ee s 21 nt fi –nding 64 pas fr rticom ipa tte he d in t 201 he 8 E su BrRI ve /Gr y. e The enw daald ta & we Ar ss e ow cia eight tes e Hde a bly th ga en nd d er, 30% to continue to adjust their offerings to attract young workers. Increased education an60% d advice to help employees with Plan 12% I Need Something to Help With Out- 4% 17% 24% W N ag one or e, ka p the nd lac le e 25 ess d B %uc , ein ne at201 ion fits Su 8 to , r a rv e m e flect ya ( jo W rtit B he y S) (a . 64 cIttua p highligh e l p rcreop ntor )t s c of tion h ea m s in t nge ploy s i he en e e e s sa m mpp id loy loy the eedey p va op ie re w ula e pxt oint tion. rem s ove ely ro rt im veer, y ecspe onfc ide iallnt y a in t s the heir y r ae bla ilitte y tto o How Much You Should Contribute to Your selection may be part of the solution. Student Loan Repayment 13% 5% Report Availability: This report is available on the internet at www.ebri.org of-Po Re cket M tireme e n d t ical Cos Plan ts 27% 23% 41% 68% 62% Figure 3 Health Savings Account (HSA) 11% 24% 20% Short-Term Disability v m aa lu ka et ion bene of fitbse d ne ec fit iss. io ns. That is up slightly from 2017 (Figure 11). Perhaps contributing to employees’ confidence is 55% 18% 20% A T A G L A N C E Top Benefits Off17% ered by Industry, 2018 How to Invest the Money in Your Health No theoretical basis exists for judging the accuracy of estimate 14% s obtained from non-probability samples such as the one 19% 20% the ease with which they can find what 4% is covered or included in their benefits. Depending on the benefit, between 64 2018 Health and Workplace Benefits Survey Partners I Didn't Think About It Much; It Just 9% Savings Accou Pn ut b(lH icSA) 10% Affording My Children's College Tuition 12% 54% used for the WBS. However, there are possible sources of error in all surveys (both probability and non-probability) that ShLo ort- nSou g- Te Trm e nrm d Dis e Dis d Goo ab ab iliili ty dty 25% 13% 40% 66% 12% a nd 76 percent of em Ad p mi loy nie str e as ti orn e port that it is either somewhat easy or very easy to fin Pd ro finf essor ionm al,a tion on what is included 10% 50% How to Save for College 15% 10% 8% m Ov ae yr atff he e cla t s the t 20 re ylie aa brili s, tyt he aof nd E sur mv pe loy y e re es ult Bes. The nefit FRe ise nasea ncinc e a rn lude cd h I En d im ust cait p tiut o enre afe l (cE tH B s eRI a alm th ) p ali nd Ang dmi G fr nr ia e str m e anw tie os, r na lSd e ci fus e& n tiA a fiss c ls , a oc t no di a bte e O s h th int ere a r vv eie R su w eta e rv id l e y ae A nd cd c omodation C Thi os su ver rvage: ey is m Wha ade poss t B ible ene wit fi h tfun s E dm ing ploy suppe ore t s fr om Ha tve he follow Toda ing y organizations: Cigna, Mercer LLC, Prudential 15% (Figure 12). 3% 4% Health Savings AccouG no t vernment Manufacturing Insurance Services Care and Support Techn 31% ical Services Trade and Food Other 2% 51% Financial, Inc., The SegaOt l G h Ner o roup ne of T , hI enc se ., and Voya Financial. e ot m he ploy r for ee m s t s of o unde nonrre st sponse and wha , the t t ye pff ee s of cts of bene que fitst s t ion w hey v or ad lu ing e, how and q sa ue tis st fied ion o the rdy e ra , ra end witsh th creeose nin g b. eW nehil fite s, t athe tem ir pts are Employees receive a wide variety of benefits from their workplace, both employment-based as well as voluntary 3% 37% Long-Term Disability 2%29% 35% 64% (HSA) 47% Health Insurance 94% 94% 93% 85% 85% 85% 73% 72% 67% 58% 10% 10% p meard sp e etc o tiv meini s on mize he ta he lth b se e fa ne ctfit ors a s, it nd ishe im ap ltoss h cible are, ta o s w qua en ll a tify s t the he fut erru orre s t of ha etm m pa loy y r ee esu ble t nfr eom fits. the In t m he . 2018 su 9%rvey we find: 10 0% % Denta ble In ne sufit rans. ceFigure 1, howev 96% er, shows tha 80% t there is 81% a slight de 80% cline in b 76% enefits offe 76% rings by e69% mployers. 52% According 60%to surv 36% ey 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 0% 10% 20% 30% 40% 50% 60% You Are Satis0% fied With 0% the H 10 e% alth Ben10 efi% ts20 Yo % u You W 20 o30 u % ld % Rather Hav40 e30 M % % ore Health B 50 e% n40 efits % You60 W % ould 50 Ra %ther 70 Hav %e Few 60 er % He80 alt% h Benefits 70% 90% Retirement Savings Plan 78% 87% 80% 64% 76% 60% 79% 52% 65% 45% 0% 10% 20% 30% 40% 50% 60% 70% 80% 6% 90% 100% responses by employees, fewer of them were offered benefits in 2018 compared to 2017. Receive Now and Lower Wages and Higher Wages Life Insurance 83% 78% 88% 70% 63% 63% 66% 39% 50% 39% ? Despite a tight labor market, fewer employees report that their employers are offering benefits: Health 5% Figure 17 Source: Employee Benefit Research Institute and Greenwald & Associates, Health and Workplace Benefits Survey, 2017 –2018. Source: Employee Benefit Research Institute and Greenwald & Associates, Health and Workplace Benefits Survey, 2018. Vision Insurance 92% 74% 77% 70% 71% 69% 65% 49% 59% 32% So So u So u rce: rce: urce: Em Em Em p p lo lo p yy lo ee ee yBenefit ee Benefit Benefit Rese Rese Rese arch arch arch In In stitute stitute Institute an an d an d Gree Gree d Gree n n wald wald nwald & & Asso Asso & Asso ciates, ciates, ciates, H H ealth an ealth an Health an d d W W do W o rkpl rkpl orkpl ace ace ace Benefits Benefits Benefits Su Su rv Su rv ey ey rv , , ey 2 2 0 0 , 1 2 1 7 0 7 – 1 – 2 7 2 0 – 0 1 2 1 8 0 8 .1 . 8. Table ins of ur C ao nc nt e re ent mas in s t he most frequently offered at 78 percent, followed by dental insurance at 68 percent and Participation in Source: Em bep ne loyfit ees w Benefit hen o Rese ffarch ere d In, stitute how an ev de Gree r, re nwald mains & Asso consi ciates, ste Hnt ealth an with p d W ro ior rkpl y ace eaBenefits rs. Fig Su ur rve ey 2 , 2sh 018 ow . s that slightly more Short-Term Disability 49% 64% 71% 56% 68% 55% 59% 51% 55% 29% Making Changes to Benefits, 2018 Figure 9 Introductrion etir ................................ ement savings plans a................................ t 67 percent. .......................................................................................... 5 Long-Term Disability 51% 61% 68% 47% 58% 55% 54% 33% 52% 30% than 4 in 5 employees participate in their employer’s health insurance benefit (83 percent), followed closely by 79 0% Traditional Pension or DB Plan 82% 29% 48% 51% 40% 44% 22% 17% 28% 22% Extremely Satisfied Very Satisfied Somewhat Satisfied Not Too Satisfied Not at All Satisfied Understanding of Health and Non-Health Benefits Compared, 2017 – percent who have dental insurance. Nearly three-quarters (73 percent each) participate in their employer’s life Coverage: What Benefits Employees Have Today ..................................................................................................... 5 Health Savings Account (HSA) 70% 69% 70% 58% 50% 43% 51% 21% 37% 18% ? Likewise, fewer workers received benefits from their employers in 2018 compared to 2017. Declines can be 2018 insurance and vision insurance programs. More than one-half have short-term disability (59 percent) or long-term Long-Term Care Insurance 32% 49% 45% 39% 37% 52% 28% 20% 36% 21% Figure 8 Figur e 11 Knowledge: How Well Do Employees Understand Their Benefits? ............................................................................. 10 So ob userv rce: Em ed p loin yee 8 Benefit out of Rese the arch 10 Institute most an pop d Gree ulanrwald bene & Asso fit offe ciates, ring Health an s. d Workplace Benefits Survey, 2017 –2018. Importance of Benefits: Satisfaction and Valuation Figur Figur e 6 e 2 Accident Insurance 23% 42% 40% Figur 26%e 16 30% 40% 22% 18% 34% 29% disability insurFreq anceu (ency 55 peo rcf Maki ent). ng Changes Ben Con efits' fide Con nce tribu in Ben tion efit to D Fin ecis anc ion ial s,Se 2017 curity –2018 , 2018 E Im mp por loy taen ecs a e of re B ge ene nefit rP as: Sa lly er ce sattn is isf fa tag ie cd tion a e w of Employ ith th nd e Vir a lu cu at rion re ee n ................................ t s b P earticip nefits pa ac tin kag g ein . Jus Ben ................................ t ov eefits r one Wh -hae lf of n Of em f................................ e pr loy ed ee b s y (51 percent) .. 12 Causes of Financial Stress, 2018 Most Important Benefit in Making Job Decision, 2018 100% ? The percentage of employees accessing voluntary benefits is only 12 percent. Of that, 61 percent say they do Source: Employee Benefit Research Institute and Greenwald & Associates, Health and W orkplace Benefits Survey, 2018. Reasons for the lower rates of offerings are not Con trib cle ua tes r A and Lo20 t m 17or Con e 20 trib st 18uudy w tes A Littould le be required to draw conclusions from the indicate they are very or extremely satisfied with their benefits, whereas in 2017, 48 percent were satisfied with their Employer, 2017 –2018 Conclusion: Confidence in the Future of Employee Benefits ..................................................................................... 15 13% so because it is less expensive to buy it through their employer than on their own — more than the 51 percent 16% 17% changes id 90% entified here. Factors that may be at play include regulatory uncertainty and destabilized insurance markets benefits. Another 30 percent are somewhat satisfied. The proportion that are not at all satisfied remains relatively low 22% 2017 2018 who cited this reason in 2017. Triggers for Making Changes Only When I Appendix - The 2018 WBS ..................................................................................................................................... 16 Every Year at Open or a shifting workforce as Millennials grow in the workforce and Baby Boomers retire. Indeed, Millennials are less likely at 9 percent (Figure 13). 45% Health Insurance 73% Saving Enough for Retirement 40% 80% Have to Health Insurance 55% 34% 89% Enrollment 81% than Baby Boomers to report being offered core benefits like health insurance, dental insurance, or vision insurance. Health Insurance ? More employees are stressed by the prospect of not saving enough for retirement than about any other 83% 39% 39% 30% In addition, the study find Re stirem thaetn t eSav mp inloy gs Plan ee satisfaction with benefits relates to overall job satisfaction. Figure 14 shows 40% 57% 70% Retirement Savings Plan financial concern that might be add 49% ressed through employee benefits. This inc 39% ludes paying mon 88% thly bills or Figures 80% Paying My Monthly Bills 30% It’s well known that so36% me industries offer more benefits than others. Figure 3 shows that public administration and employees w Deho ntal In are sur ae nxt ceremely or very satisfied with their benefits are more likely to say 34% they are extremely or very Figure 14 35% 79% Tradm itio ann al a Pe ging nsion o drebt. Baby Boome 34% rs are more likely than Millennials to report that saving enough for retirement Dental or Vision Insurance 26% 35% 60% 43% 45% 87% government, manufacturing, and finance and insurance gene rally lead the way when it comes to workers reporting Fi sag tiur sfe ie d 1, w Pit eh th rcent eir ag je ob of . IE t m ap pp loy eaere s t s Re hatp Ba or es s nt eing fa it 38% t s is S Bfa ae tine c sfta ion w fit ctis Off on R iteh b e lar te eed dne tb ofit y Jo s inc E bm Sap tiloy r sf eaa ce ses, tr io , n20 , 2 so 0 17 18d –oe 20s ove 18 ................................ rall job satisfaction. ............ As a not e 6 DB Plan 47% 79% causes financial stress, while Millennials are more likely than Baby Boomers to report that paying monthly bills Retirement Savings Plan Having Savings in Case of an Emergency 28% Extre 79% mely Well access to employee benefits. Employees in retail trade and accommodation and food services, on the other hand, are of caution, however, while there appears to be some correlation, 30% there is no evidence in this study to show causation. Retiree Health Insurance 42% 44% 86% Traditional Pension or DB Plan 50% 22% a30 nd % student loan repayment cause financial stress. Benefits Satisfaction Figure 2, Percentage of Employees Participating in Benefits When Offered by Employer, 2017–2018 ........................... Very Well 6 less likely to report being offered benefits. 72% Job satisfaction is likely to be a function of many variables, of which benefits satisfaction is only one. Vision Insurance Dental or Vision 73% Extremely or Somewhat Not Too or Not Figure 4 The Amount of Debt I Have (e.g. credit 45% 40% 84% Somewhat Well 25% 40% Insurance 28% Life Insurance 14% ? card E d m eb p t,lo car ye loe as a ns, pr ee rs og ne al ne loar na s)lly satisfied with their current benefits package. Just over one-half of employees (51 25% Leave OV ffe er ry e d S a bt yi s In fid eu d stry, 201 S8 atisfied At All Satisfied Figure 3, Top Benefits Offered by Industry, 2018 ................................................................................................ 78% ..... 7 Not Too Well When it come Lif s et Io nsup ra a nid ce leave, employees report similar variation b44% etween industries, with government offering paid Although employees are generally satisfied with benefits, the EBRI/Greenwald & Associates Health and Workplace 73% Life Insurance Public Job Satisfaction 41% 40% 81% percent) indicate they are very or extremely satisfied with their benefits; another 30 percent are somewhat 19% 37% 30% Not at All Well 38% leave A Me to m dical I ore ss uw e T or hat k W erils l , Dea p Re nd let tiree e M ac y H ceom alth I m nsod uraa ncteion and food worke rs less likely to receive paid leave than others. Across Benefits Survey also 19% A edxa mim nisine trats ion how valuable benefits a 10% re in relation to wages. In a tra Prd oe fe-soff sc sional, enario, employees were Traditional Pension or Extremely or Very Satisfied 82% 46% 30% 20% 15% 71% Figure 4, sa Le tia sf vie e dOffe . The red p rb op y or Indust tion t rha y, t20 is18 not ................................ at all satisfied rema................................ ins relatively low at 9 p ................................ ercent. ............... 7 Savings/Put Me in a Bad Place Financially 31% Disability DB In Pl su an rance and 32% Finance and Educational Health 45% Administration Scientific 66% , 77% Other Retail Accomodation industries in 2018, 78 percent of full-time workers in the United States received at least some paid vacation time (down asked to choose between e So it me hew r h kae t e Sp ating isfiet dheir health benefits as 14% they are now 44% , opting for fe 44% wer health benefits and 20% Total Government Manufacturing Insurance Services Care and Support and Technical Services Trade and Food Disability Insurance 9% Not Too or Not at All Satisfied 4% 11% 26% 59% from 84 p15 er %cent in 2017), and 67 percent received paid sick leave (down from 71 percent in 2017). Maternity and more sala Sh ro yrt- , T or erm m Dis oab reili he ty alth benefits and less salary. Fifty-eight percent indicate satisfaction with the salary/health Accident Insurance Every 34% Few Years 40% 74% Paid Fi Vag cur at ? io e n 5, Time Mor Rea esons tha 78% n o forne P-ur thi cha rd si 99% (37 ng p Volun ercent ta 95% )r y of Be em nepfit loy 82% s, 201 ees indic 7–2018 71% ate ................................ that84% their employ 77% er or ................................ bene 81% fits comp 78% any prov .............. 83% ides no 8 59% Student Loan Repayment 59% 12% paternity10 le %ave were each up very slightly at 46 percent and 28 percent respectively (Figure 4). Paid b Sie ck ne Time fits balance 67% they receive97% right now, w 73% hile 18 p 75% ercent would 86% rathe 69% r have more 65% health be 74% nefits and 62% lower w 65% ages. 43% 11% education or advice on benefits. At the same time, depending on the benefit, between 64 percent and 76 Long-Term Care Insurance 8% 7% 53% 10% 2% Source: Employee Benefit Research Institute and Greenwald & Associates, Health Critical Illne Long-sT se In rm su Dis ran ab ceility 34% 7% 40% 74% 10% 2% Paid Maternity Leave 46% 57% 56% 55% 52% 45% 48% 45% 43% 50% 27% 55% Figure 6, Causes of Financial Stress, 2018 ............................................................................................................... 8 Another 24 percent would prefer fewer health benefits and higher wages, perhaps reflecting the entrance of younger percent of emp 3% loyees report that it is either somewhat ea 3% sy or very easy to find information on what is and Workplace Benefits Survey, 2018. Affording My Children's College Tuition Paid Paternity Lea 0% ve 28% 36% 32% 35% 10% 32% 28% 36% 23% 19% 33% 24% 6% The perceSu nt pa ple gm ee of ntal H em ealt p hloy , Critic ee as a l Illnc esc se , Can ssing cer, o v roluntary benefits is only 12 percent, according to the survey. Of that, 61 49% 5% workers in Can to cet r he Insu w ranor cekforce (Figure 15). 40% 6% 34% 74% Accident InsuH ra en alt ce h Benefits Health Benefits Non-Health Benefits Non-Health Benefits included. Accident Insurance 52% 5% percent So sa urce: id Em the ploy y ee do Ben so b efit e Resear causch e it In stitu is le te ss an d e Green xpens wal ivd e & to Asso buy cia tes, it tH heal roug th an h th d Wo erkp ir e lam ce p Ben loy efits er t Sha urvey n o , 20 n th 18.eir own. Other reasons Figure 7, Causes of Financial Stress, by Generational Cohort, 2018 ........................................................................... 9 Source: Employee Benefit Research Institute and Greenwald & Associates, Health and Workplace Benefits Survey, 2018. Long-Term Care 2017 2018 2017 2018 1% 1% Other Benefits, Such as Prepaid Legal Services, Pet Health Savings Account 30% 38% 68% Other 44% 3% for signing up Insuinc ranlude ce the ease of payroll deduct 4% ions (44 percent) and protecting against unexpected expense (40 Employees continue to indicate that benefits play a key role in whether to remain at a job or choose a new one. Since 47% ? In su So raA u nrce: s su ce, Au Em (HSA c toh, p Ilo n ) sy in 201 uee ranBenefit ce, o8, r Ho Rese a m e m oarch w anjor ers In i ' Itstitute n ys u( ra 64 n ce an p de Gree rcent nwald ) of & e Asso mpciates, loyeeH s sa ealth an id t dhe Wy orkpl are ace eBenefits xtreme Su lyrv o ey r , v 2e 01r7 y – 2 c0 onfide 18. nt in their ability 0% Figure 8, Benefits' Contribution to Financial Security, 2018 ....................................................................................... 9 percent) (Figure 5). The percentage of workers who reported that they purchased voluntary benefits because it is less 2013, health insuranc0% e has consi 10%stently20 re %mained 30 % one of t 40 he % top be 50ne % fits tha 60t% employ 70 e% es consi 80 d %er in as 90 sess % ing a 10 j 0% ob Extremely Confident Very Confident Somewhat Confident Not Too Confident Not at All Confident to make benefits decisions. That is up slightly from 2017 and represents a leveling off as this indicator had 0% 0% 10% 5% 0% 20% 10 10 %%30% 15 20 % % 40% 20 30 % % 50%25 40 % % 6030 % 50 % % 70 35 60 % % % 40 70 80 % % % 45 80% % 90% expensive than buying it on their own increased between 2017 and 2018. Nearly one-quarter (23 percent) purchased change. In 2018, 73 percent cited health insurance as a top-three consideration when contemplating a job change, EBRI Issue Brief is registered in the U.S. Patent and Trademark Office. ISSN: 0887 ?137X/90 0887 ?137X/90 $ .50+.50 slipped each of the past two years. Figure 9, Understanding of Health and Non-Health Benefits Compared, 2017–2018 .................................................. 10 Source: Employee Benefit Research Institute and Greenwald & Associates, Health and Workplace Benefits Survey, 2018. voluntary So b urce: ene Em fitp slo b ye ee ca Benefit use tRese heyarch ne e Ind stitute ed he anlp d Gree with o nwald ut & -of Asso -poc ciates, ketH m ealth an edica dl cos Workpl ts. ace Benefits Survey, 2017 –2018. followed by retirement savings plans (57 percent) and far more than dental and vision coverage (26 percent) (Figure © 2019, Employee Benefit Research Institute ?Education and Research Fund. All rights reserved. Sou So rce: urce: Em Em plop ylo ee yee Benefit Benefit Rese Rese arch arch Institute Institute an d an Gree d Gree nwald nwald & Asso & Asso ciates, ciates, Health an Health an d W do W rkpl orkpl ace ace Benefits Benefits Surv Su ey rv, ey 20 , 1 28 0.17 –2018. Source: Employee Benefit Research Institute and Greenwald & Associates, Health and Workplace Benefits Survey, 2018. 16). Note: "None of these" responses are not shown. Figure 10, Percentage Reporting Education on Benefits From Employer or Benefits Company, 2017–2018 ................. 11 e e e e e e e e A e e e e e e eb b b b b b b b b b b b b b brr r r r r r r r r r r r r r re i. i. i. i. i. i. i. i. i. i. i. i. i. i. i.s o o o o o o o o o o o o o o oe r r r r r r r r r r r r r r rg g g g g g g g g g g g g g g a rIIIIIIIIIIIIIIIc s s s s s s s s s s s s s s sh s s s s s s s s s s s s s s s u u u u u u u u u u u u u u u re e e e e e e e e e e e e e e ep B B B B B B B B B B B B B B B or r r r r r r r r r r r r r rrief ief ief ief ief ief ief ief ief ief ief ief ief ief ief t fr o• • • • • • • • • • • • • • •m J J J J J J J J J J J J J J Jta a a a a a a a a a a a a a a hn n n n n n n n n n n n n n n eu u u u u u u u u u u u u u u E a a a a a a a a a a a a a a ar r r r r r r r r r r r r r r B y y y y y y y y y y y y y y yR 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1I0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 E ,,,,,,,,,,,,,,, d 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2u 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0c 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1a 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9t ion • • • • • • • • • • • • • • • N N N N N N N N N N N N N N N a o o o o o o o o o o o o o o on ............... d 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 R0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 e search Fund © 2019 Employee Benefit Research Institute 15 11 10 14 13 12 16 3 7 5 4 6 8 9 2