Sixty percent of private employers offered health insurance to their employees in March 2007 and more employees had access to health insurance plans (71%) than to retirement plans (61%), according to a new report released August 22 by the Bureau of Labor Statistics (BLS).
The report, National Compensation Survey: Employee Benefits in Private Industry in the United States, March 2007, presents data collected from the survey on the incidence and key provisions of these and other employee benefit plans by a variety of employer and employee characteristics and for various geographic areas.
Among the key findings in the report are the following:
- Firms employing fewer than 100 employees were less likely to offer medical care plans (59%) than larger firms (93%).
- Firms employing fewer than 100 employees also were less likely to offer retirement plans (approximately 45%) than larger firms (approximately 85%).
- Of the 71% of employees in private industry that had access to medical care plans, 52% participated in a plan.
- Of the 61% of employees in private industry that had access to retirement plans, 51% participated in at least one type of retirement plan (20% in defined benefits plans, 43% in defined contribution plans, and some employees participating in both types).
- Employee contributions for medical care premiums averaged $81.37 per month for single coverage and $312.78 per month for family coverage.
- Employer premiums for medical care plans averaged $293.25 a month per participant for single coverage and $664.04 for family coverage; on average, employers paid 81% of that premium for single coverage and 71% of the premium for family coverage.
In addition to presenting data on access to and participation in benefit plans, the report also includes tables and charts summarizing data on other employee benefits.
BLS also released August 29 an unrelated analysis based on data from its National Compensation Survey that found that twelve of twenty occupations with the highest hourly pay in 1997 remained in the top twenty in 2005, and of those twelve, physicians had the largest upward change in ranking, moving from twelfth place in 1997 to fourth place in 2005.
The analysis, Changes in Occupational Ranking and Hourly Earnings, 1997-2005, also said the median percentage change in hourly pay for these twelve occupations was 32%, with a percentage increase of 63.6% for physicians.
Read BLS’ report on employee benefits in private industry.
Read BLS' occupational ranking and hourly earnings analysis.
