Seventy-five percent of workers expect their employers to educate them about health care reform and explain how it will affect their coverage. However, only 13% of employers say that educating employees on health care reform is important for their organization, according to a study by Aflac.
Fifty-four percent of workers say they would not want greater control over their insurance options because they don’t have the time or knowledge to manage it. Fifty-three percent fear they would not manage their coverage adequately, leaving their families less protected. Seventy-six percent say they are not very knowledgeable or not at all knowledgeable about federal and state health insurance exchanges.
Fifty-eight percent of employers that said they are extremely knowledgeable about health care reform also say that their employees are extremely knowledgeable about their benefits. However, only 27% of employers say they understand healthcare legislation extremely or very well. Seventy-four percent of workers who are extremely satisfied with their job are also satisfied with their benefits, compared to only 30% of workers who are not satisfied with benefits.
More employees are using voluntary insurance products to cover costs not covered in their high deductible insurance plans. In 2013, 43% of workers were enrolled in voluntary products, compared to 31% in 2012.
The survey also reveals the following about employees:
• 32% are not knowledgeable about health savings accounts (HSAs)
• 6% are not knowledgeable about federal and state health care exchanges
• 49% are not knowledgeable about health reimbursement accounts
• 25% are not knowledgeable about flex spending accounts (FSAs).
• 23% are saving more in anticipation of potential increases in medical costs,
• 46% have less than $1,000 in savings to use for out-of-pocket expenses associated with an unexpected serious illness or accident, and 25% of employees have less than $500.
The survey reveals the following about employers:
• 53% have implemented a high-deductible health plan (HDHP) over the past three years — a trend that shows no sign of slowing.
• 55% have done nothing to prepare for possible changes to the health care system.
Aflac has created the booklet, “An Employer’s Guide to Health Care Reform.” For more information, visitAflacWorkForcesReport.com.
