Page 37 - 2020 Peel & Holland Benchmarking Survey Results

WESTERN KENTUCKY EMPL OY EE BENEFIT S
BENCHMARKING SURVEY
HEALTH PLAN FUNDING 2017

CASH IN LIEU OF BENEFITS
Do you currently offer cash in lieu of benefits?
No
82%
42
COST-CONTAINMENT TECHNIQUE
Yes
9
18%
Total 100% 51
Do you currently offer cash in lieu of benefits?

Yes 18%

What is the amount of cash you offer in lieu of benefits? 82%
No
$0 - $999 11% 1
$1,000 - $2,000 33% 3
56%
$2,000+ 0% 10% 5 20% 30% 40% 50% 60% 70% 80% 90%

Annual Amount of Cash Offered in Lieu of Coverage

$2,000+ 56%

$1,000 - $2,000 33%

$0 - $999 11%

0% 10% 20% 30% 40% 50% 60%

EMPLOYER PERCEPTION EMPLOYEE REALITY

83 percent of employers 76 percent of employees say
believe their employees there are at least some things
understand the benefits about their current coverage
communications they provide. that they do not understand.

2017 Aflac WorkForces Report

PEEL & HOLLAND | 2020 Western Kentucky Employee Benefits Benchmarking Survey Results 35