New York — Around half of employees don’t seek medical care because of out-of-pocket costs, while fewer report feeling “holistic healthy,” results of a recent study reveal.
For its 24th annual U.S. Employee Benefit Trends Study, financial services companies MetLife commissioned separate employer and employee surveys. Nearly 2,500 decision-makers and leaders responded to the employer survey, while more than 2,500 full-time workers responded to the employee survey. Respondents represented organizations of various industries and sizes.
Among the employees, only 44% reported feeling physically, mentally, financially and socially healthy. Further, 83% of the employees say the rising cost of living and medical expenses are their top stressors.
Other findings:
- Employees miss, on average, 6.1 workdays a year because of health-related issues.
- For the first time since 2022, employers say “controlling health care costs” is their No. 1 benefits goal – overtaking productivity, loyalty and attracting new talent.
- 60% of the employer respondents said their organization increased its investment in benefits, and 62% expanded non-medical offerings.
“Current economic conditions mean employers are under immense pressure to manage costs while remaining invested in employee well-being at a time when their workforce is also stressed,” Todd Katz, head of U.S. group benefits at MetLife, said in a press release. “Our research shows how effective benefits strategies can help organizations strike a balance between financial discipline and improving outcomes for their employees.”
MetLife recommends that employers “strategically tailor benefit offerings to the specific needs of the workforce that provide meaningful support.” That can include improving access to preventive care.
