At a time when employee benefits are more important than ever as businesses compete for talent, a growing number of workers are dissatisfied with their options.
"In today's rapidly changing professional landscape, employee health benefits stand out as a category in desperate need of transformation," according to the 2024 State of Employee Health Benefits report from the health insurance platform SureCo. "More than half of Americans under age 65 receive health insurance through their employer, but the current way companies offer benefits is no longer serving anyone."
A survey of employees, HR and finance leaders, and benefits consultants found that:
- Eight in 10 employers saw health insurance renewal rates increase last year.
- Six in 10 employees would leave their current company for one with better health benefits.
- Thirty-eight percent of people are looking for a job with better benefits.
- Forty-seven percent of employees have considered seeking alternative health insurance benefits outside of their employer's offerings.
- Almost half of workers said they have avoided or delayed preventive care or medical treatment because of concern that it wouldn't be covered.
- Forty-two percent of employees said they would rather receive better health insurance than a raise this year.
- Eighty-five percent of companies have changed health care carriers or plan designs at least once over the past five years.
A traditional one-size-fits-all approach to benefits no longer works, the report said.
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