Securian Survey: 40 Percent of Workers to Quit Jobs if Comparable Insurance Available

 Securian Financial Group has conducted a survey of employed full- (94 percent) or part-time (6 percent) workers with health insurance as an employee benefit. The survey shows that 40 percent of them are experiencing job lock. That is, they would leave their jobs if they could buy health insurance on the open market that is comparable to the coverage they have through their employers. A large majority of all respondents (91 percent) say they like the work they do in their current jobs. Another big group (83 percent) is satisfied or somewhat satisfied with their current health insurance.

“More than half (56 percent) say they have considered leaving their jobs to do something more personal or meaningful but didn’t because they need the health insurance they currently purchase in the work place,” Michelle Hall, manager of Market Research at Securian, said. “Of that group, more than two-fifths (43 percent) say they would start their own businesses.”

Forty-three percent of those who took the Securian survey say they’ve turned down job offers because the health insurance benefit didn’t meet their needs. Almost half of married respondents (46 percent) refused job offers due to unacceptable health insurance coverage, compared to about one-third (34 percent) of the single people who took the survey. The most-cited reasons were high cost and inadequate coverage.

Demographics:

• 94 percent of respondents have full-time jobs

• More than half (55 percent) hold managerial or professional positions

• 50 percent report annual household incomes of $50,000 – $99,999 and 23 percent report $100,000 and higher