A new survey conducted by the Employee Benefit Research Institute determined an increase in the number of people who would opt for less employment-based health coverage in place of a higher paycheck.
Compared to last year, the numbers have nearly doubled to one in five people who prefer paycheck increases. Perhaps the slow increases in wages compared to spiking costs for health coverage may be the root of the change of heart in the last years, researchers say, leading more people to want to see money reflected in their paycheck and perhaps caring less for health coverage. Furthermore, the workforce is increasingly made up of ‘millennials,’ which could also account for the smaller numbers in those who care for greater health benefits immediately.
The number of people who would actually opt for a smaller paycheck and greater health benefits has, however, remained relatively unchanged. Experts predict that millennials will turn around and see the benefits of opting for smaller checks and greater health benefits with time.
Read full story at: NPR