Employees at Large Companies have much Greater Access to Medical Benefits
The U.S. Bureau of Labor Statistics’ recent report, Employee Benefits in the United States –March 2012, has revealed that 89 percent of private industry employees in larger establishments have access to medical benefits compared to just 57 percent in smaller businesses (less than 100 employees). And while shared premiums for employee and employer did not vary significantly for individual overage, small businesses paid 63 percent of costs for family coverage and large establishments paid 77 percent. Private industry workers also have higher availability of retirement benefits (86 percent) compared to small businesses (50 percent).
Also more prevalent in medium and large establishments is access to benefits such as paid leave, such as sick days, vacation, and holidays, and life insurance. Comparison data includes access rates, participation rates (percentage of employees who use any offered benefits), and take-up rates (percentage of employees with access who participate). A further, more detailed, study will be released in the fall that will include data on incidence and provisions of medical and retirement benefits, life insurance, short- and long-term disability benefits, paid holidays and vacations, and other benefits. The survey is based on around 11,000 establishments and produces data not only on benefits but also on wages and compensations cost trends.