When it comes to office perks, workers could care less about employee discounts, tuition reimbursement, or Casual Fridays. Studies show the one perk that motivates us to roll out of bed to head to work is healthcare coverage; 76 percent of respondents pinned medical care as the most important benefit, reports Daily Finance.
The GlassDoor survey not only discovered that more than three-fourths of workers, not surprisingly, favored healthcare plans as an added benefit, but a close to 72 percent valued paid holiday, vacation, and sick time. Nearly 40 percent of American workers get no paid time off, according to The Huffington Post.
A 401(k) plan is the third most beneficial job perk that the survey respondents desire. Employees are growing less confident in their employer’s retirement plan. Workers are “increasingly convinced they face challenging, if not dismal retirement years,” says US News & World Report. About 80 percent of employees enrolled in the 401(k) feel they must work until their late 60s or early 70s for a satisfactory retirement, it adds.
As MN has reported previously, temporary jobs have doubled over the past four years. Employers are reluctant to invest in long-term employees in an unstable economic climate. As a result, having a retirement plan as a job benefit has proven to be more elusive than before. The latest studies show than 58 percent of Americans do not have a pension or 401(k) plan, reports the The New York Times.
Besides the economy, employers blame the Affordable Care Act for decelerating the distribution of job benefits. Obamacare will require businesses with more than 50 full-time employees to provide a medical plan for workers who slave away for more than 30 hours a week. Many companies say they will either cut their staff to under 50 or cut the hours of part-time workers to drop below the 30-hour threshold, Daily Finance adds.
The scuffle for preparation for Obamacare isn’t only affecting corporations, but the public will need to be involved as well. In a few months, all uninsured Americans are “expected to purchase health care plans on an exchange, ‘one of the state-based online marketplaces currently under development,’” MN has reported. In order to diffuse the confusion about the Affordable Care Act, the Obama administration has kicked off a new website, HealthCare.gov, to educate consumers about enrollment for insurance under Obamacare.
By October, HealthCare.gov “will be the online destination for consumers to compare and enroll in affordable, qualified health plans,” says Marilyn Tavenner, Centers for Medicare and Medicaid Services Administrator.