According to the National Coalition on Health Care (NCHC), nearly 46 million Americans, or 18 percent of the population under the age of 65, were without health insurance in 2007 (the latest government data available). The percentage of people (workers and dependents) with employment-based health insurance has dropped from 70 percent in 1987 to 62 percent in 2007. This is the lowest level of employment-based insurance coverage in more than a decade, says the NCHC.
Many companies today are struggling to find ways to stay fiscally afloat without laying off employees, and so benefits such as vacation time, profit sharing and in some cases health insurance, are being eliminated by many employers. One third of employers did not offer health coverage in 2007, according to NCHC. Of all the employee benefits offer, health insurance is not only the most costly, but for some, also the most important. So it comes as no surprise that 74 percent of reader say health insurance is the most important employer benefit for them.
A breakdown of survey results is below:
Which employee ‘benefit’ is most important to you?
Health Insurance: 74.14%
401(k)/Profit Sharing: 13.79%
Vacation Time: 10.34%
Flex Time: 1.72%
THIS WEEK’S POLL
Changing topics this week, we look at the trends for industry consolidation. There has been a flurry of consolidation within the manufacturing and distribution segments over the past few years. Where do you see this trend heading?
· I think it will slow down.
· I think it will increase.
· I think the market is too volatile to make predictions.
To cast your vote, go to aftermarketNews.com and scroll to the “Poll” section at the bottom of the page.