Our 2017 research from the Fresh Perspectives on Group Benefits: The Latest Thinking From Plan Sponsors, Members, and Insurers, paints a clearer picture of how employees feel about their benefits. It's important to be aware of which benefits are important to employees but it can be just as relevant to investigate which benefits employees could do without.
Top Benefits to be Reduced or Eliminated by Employees
The following data outlines the percentage of employees that feel they could reduce or eliminate each existing benefit. The results were drawn from Accompass' 2017 report.
27% - Health Spending Account
20% - Insurance (life or disability)
20% - Paramedical
17% - Vision care
12% - Dental coverage
10% - Drug coverage
A Closer Look at the Data
According to our 2017 research, HSAs are the least valued benefit by employees. 1/3 of employees (29%) who currently have benefits said they would be willing to reduce or eliminate an existing benefit to cover the cost of a wellness benefit. This includes wellness initiatives such as a subsidized gym membership, health food on-site, or regular health assessments.