Employer-Provided Benefits Mostly Unchanged In 2005

Even in the face of mounting health insurance premiums, most employers are able to control benefit costs and offer generous packages to employees, according to the Society for Human Resource Management’s (SHRM) 2005 Benefits Survey.

Of the 386 human resources professionals who responded to the survey, 69% indicated that the costs of voluntary benefits at their companies had remained about the same, compared with 2004. However, 28% of respondents said benefit costs had increased from the previous year.

Broken down by benefit type, the survey showed that, from 2004 to 2005, the proportion of organizations offering dependent care flexible spending accounts rose from 73% to 79%. HMO coverage increased from 51% to 53%, employer-funded health reimbursement accounts dropped from 18% to 17%, and prescription drug coverage held steady at 97%.

The SHRM survey further indicated that the share of businesses offering paid family leave increased from 24% to 30%. Domestic benefits for same-sex partners increased from 27% to 32%, and domestic benefits for opposite-sex partners remained at 33%. Meanwhile, vision insurance rose from 71% to 80%, professional development opportunities remained at 93%, and on-site vaccinations fell from 60% to 56%, largely due to flu vaccine shortages.