Kitsap Peninsula Business Journal
4-8-2005
SPECIAL REPORT - HEALTHCARE QUARTERLY
Is anyone happy with health care benefits?

Is anyone happy with their health care package? The surprising answer is that most workers have remained satisfied with their employer-sponsored health benefits, according to Watson Wyatt Worldwide.

Watson Wyatt’s 2004 WorkUSA survey of nearly 13,000 employees found that 61 percent of workers are satisfied with their health plan, nearly as many as in 1994 and 1999. Only 17 percent are dissatisfied, while the remaining 23 percent have mixed feelings. Two years ago, the percentage of employees satisfied with their health benefits was slightly higher, at 64 percent.

According to Ted Chien, global director of group and health care consulting at Watson Wyatt, “It appears that rising health care costs haven’t diminished the high value that workers place on the health benefit coverage they receive from their employers.”

According to the survey, employees’ understanding of the value of their total reward package has increased by nearly 10 percentage points over the last two years.

This year, 67 percent of employees feel they are well informed about their reward package, up from 58 percent in 2002 and 60 percent in 1999. A total reward package includes benefits, pay, incentives, profit-sharing and stock-based programs.

Also, 44 percent of workers said their employee benefits compare favorably with others, versus 32 percent in 1999.

Ted Chien adds, “The results of the survey highlight the importance of communication and employee education.”

It is important to note that even as companies need to increase premiums to maintain health care benefits, constant communication and engagement of the employees will lead to less friction and perhaps more understanding from employees who see the whole picture.