Most employees do not realize that their "benefits" are actually considered by employers part of their compensation package and not "in addition to." So these are not benefits at all!
In my company, we call them "fringe benefits" and they comprise roughly 44% of the payroll. So an employee who gets a salary of $60,000 is actually considered on our P&L to have a salary of $86,400 as fringe benefits are added in for each employee.
Now most employees in that situation would probably rather be paid the $86,400 and obtain their own health care. Especially considering the fact that despite having a salary of just $60,000, that employee is still required to make some sort of co-payments to participate in the HMO/Dental/Insurance offerings. And even if the employee elects not to participate in the company's offerings, the salary still stays at the $60,000 as the company must still fund these benefits for the other employees.
>>I think you hit the nail on the head with the reference that employer provided health insurance was a gateway to communism. I would much rather be paid my full salary and obtain and pay for my own health insurance.
>>Most employees do not realize that their “benefits” are actually considered by employers part of their compensation package and not “in addition to.” So these are not benefits at all!
Many FReepers are unaware of it too...or they are looking forward to ending their employees’ “benefits” with no increase in hourly pay, which will effectively cut the employees’ compensation considerably with no changes in the paycheck.
I would prefer to receive my entire compensation package in my paycheck and then take vacation or sick leave as unpaid time off or purchase my own health care. They could still offer a group plan, but you would know exactly what it costs.