92% staff feel employer must facilitate insurance plans

With employee health and benefit landscape undergoing rapid changes, a recent survey revealed that 92% respondents felt their employers should cover a range of risks by facilitating voluntary benefit plans. "More than half of the surveyed employees depend on their own finances to address the top four risks medical emergency, disability, loss of property, and loss of income. About 92% employees said they are willing to share premium costs and buy voluntary insurance plans offered by their employers," according to Marsh India's 9th annual 'Employee Health and Benefits' survey. It revealed

It revealed that, 33% employees were willing to spend 1-2 per cent while 37% said they could spend 3-5% of their annual salaries on various voluntary insurance plans. The survey was conducted among over 500 employers and over 2,000 employees from diverse sectors. About 53% of the employees those who are covered by group medical coverage and 57% of those who are covered by group personal accidents believed that the medical and accident insured benefit plans provided by their employer are inadequate, it said. The survey also said

The survey also said majority of the employees are keen to invest in top-up, out patient department, and parents insurance plans to minimise their out of pocket expenses. Interestingly, almost 83% were looking for options to customise the insurance offered by employer such as increasing room rent, maternity limits among others. PTI