The Benefit of BelongingNovember 8, 2017 7:30 am
Tags: benefits, credit union, employees, health insurance, human resources
By Donya Parrish
We recently conducted a multi-state regional salary and benefits survey with our partner Associated Employers. It is a service we are proud to be able to provide to those who belong to our association. The results will be helpful to many boards and CEOs as they try to retain and attract talent in a tight labor market.
Here is a quick look at some of the Montana benefits survey results. They are interesting.
- 95% of respondents provide health insurance for their employees.
- 42% cover 100% of the premium expense; 42% cover 80-99%.
- Almost 58% provide health insurance for dependents, but only 30% cover any of the premium for dependents.
- Over 94% of credit unions report at least 50% of their employees opt in to take advantage of the health insurance coverage they offer.
- Almost 39% of credit unions offer a high-deductible health plan, and 22% offer both a traditional and a high-deductible health plan.
- Over 80% contribute to an employee Health Savings Account (HSA).
- Other insurance types, which more than 75% of respondents offer, include dental, vision, employee life, and long-term disability.
- Almost 75% of credit unions report having a wellness program, and nearly 93% of those wellness programs include biometric screenings.
- About half of the credit unions responding offer a flex plan.
- Almost 95% of credit unions report offering a 401(k) program with varying matches.
Those that participated in the survey were provided a free copy of the results. As of January 1, our other affiliates will be able to purchase a copy for a reasonable price. Contact Donya if you need more information or want to inquire about a survey copy.
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