Health Insurance Can Help You Better Compete for Employees

February 20, 2018by mycalchoice
  • One-quarter of full-time employees in the U.S. do not receive benefits through their jobs.
  • 78% of workers say they base their acceptance or rejection of a job offer in part on benefits.
  • Forty percent of employees responding to a 2017 SHRM survey said they would consider seeking new employment in the following 12 months.
  • CaliforniaChoice offers dozens of health plan options from seven different insurers in one program, so it’s easy for your employees to find coverage to match their individual or family health care needs.


Here are the facts

According to a new survey by the business-to-business research, ratings, and review firm Clutch, nearly one-quarter (23 percent) of full-time employees in the U.S. do not receive employee benefits, such as health insurance, paid vacation, or a retirement savings plan, from their employer. As a consequence, in an increasingly competitive job market, with the national unemployment rate at 4.1 percent in January 2018 (and California’s rate at 4.3 percent in December 2017), employers could risk losing top talent in the recruitment and retention of employees.

In last year’s annual survey of U.S. employers, the Society for Human Resource Management (SHRM) notes, “Recruiting difficulty has continued to increase over the last five years, and competition for talent is high. To attract and retain top talent, organizations must leverage the benefits package they offer to their employees.”

SHRM’s 2017 survey found nearly one-third of employers enhanced their benefits in the prior 12 months, with health and wellness benefits most affected. Nearly one-quarter of employers (22 percent) taking part in the survey made health benefits changes – with the top reason cited as wanting to remain competitive in the talent marketplace.


Other surveys find similar results

The 2017 SHRM survey follows the organization’s 2016 report, Leveraging Benefits to Retain and Recruit Employees, which found a majority of employees rank health care as the most important benefit. In an earlier Unum survey, as reported by Benefitfocus, 78 percent of workers base their acceptance or rejection of a job offer in part on the employer’s benefits package.

That statistic aligns with a previous study by Aflac that found 60 percent of employees would take a job with lower pay but better benefits. The same survey noted two in five employees (42 percent) said improving their benefits is something their employers could do to keep them in their jobs, while 16 percent said they have left a job or turned down a job in the prior 12 months due to the benefits offered.


A multi-carrier exchange can help you control costs and broaden employee choice

A multi-carrier program like CaliforniaChoice gives you and your employees access to a variety of health plans – not just a single medical carrier and one plan type for everyone. You and your employees have the flexibility to shop and compare coverage from seven leading insurers across California. That gives you the ability to find the plan that best suits your individual and family health care needs.

One of your employees might choose PPO coverage from Anthem Blue Cross, because it includes a preferred doctor or a specific hospital in its network. Another employee who rarely visits the doctor might choose an HMO plan from Kaiser Permanente. A third worker might select Health Savings Account-compatible coverage from UnitedHealthcare or another carrier. With CaliforniaChoice, it’s each employee’s individual choice.


What you spend is up to you

Working with your broker, you determine what you want to spend on your employees’ health benefits. With CaliforniaChoice, you can choose a fixed dollar amount or a fixed percentage of the cost – for example, 50% of the lowest-cost health plan. Your employee pays the other half of the plan premium and his or her deductible, co-pays, and co-insurance amount (depending on the plan’s metal tier). 

The amount you select is locked in for a year – and, at renewal, you have the flexibility to adjust your premium contribution, up or down.


Get started today

You can improve your odds in today’s talent marketplace by offering a competitive employee benefits package. If you want to learn more about how CaliforniaChoice can help you, talk with your broker. An experienced employee benefits broker will help you sort out your coverage options, help you determine a budget for your employees’ health insurance and other benefits, give you a quote, and help get your employees enrolled.

And, you might be surprised to learn, using a broker doesn’t cost you a dime. In fact, having a broker help you shop and compare health insurance options for your employees could save you money. That’s because a broker has the expertise and technology to help you find the right plan that balances your need to control your company costs while still offering your employees access to the health care professionals and facilities they want and need.

If you don’t already have an employee benefits broker, we can help you find a CaliforniaChoice broker to speak with about your coverage options and get a quote for your business.

Shopping for group health insurance?

This guide compiles a list of common questions you may have before you start offering health insurance coverage.