Which Employee Benefits Do Workers Value Most?

An improving economy has made the talent market heat up, and organizations are finding they need to look for new ways to recruit and retain high-performing employees. One of the tools many organizations use to attract high-talent candidates and hold onto their top performers is a strong benefits package. While different employees have different preferences and needs, there are some trends worth noting when it comes to the benefits employees value. This white paper will look at benefits employees tend to value most, and examine how organizations can use benefits to improve their recruiting and retention efforts. Health Insurance One of the most valued employee benefits is health insurance. “Employees value health insurance, dental and vision the most,” says Nicole Wright of Entrepreneurs Loft. Research backs that up. According to a Towers Watson survey, 46 percent of respondents said health care benefits are an important reason for deciding to work …

CONTINUE READING

How to Understand Your Health Insurance Coverage

Understanding ins and outs of your health insurance plan may be difficult, but it’s an important step in protecting your physical, mental and financial health. To help you out, we’ve assembled some health insurance basics that apply to almost any plan. To begin with, there are so many insurance-specific terms that it’s easy to get tripped up and confuse them. Here are four you need to understand: Deductible: This is the amount you must pay out-of-pocket before the insurance company will contribute to any of your health-related expenses. Coinsurance: This is the amount, usually a percentage, that you pay for any health care costs after you’ve met your deductible. For example, if your deductible is $1,000 and you require a service that costs $2,000 and have 25 percent coinsurance, then you pay $1,000 to meet the deductible and 25 percent of the rest ($250), for a total of $1,250. Copay …

CONTINUE READING