Employees dissatisfied with their companies' benefit offerings: survey

Group medical benefits also deemed inadequate.

AIA Hong Kong recently announced the key findings of its AIA SME Group Medical Protection Survey 2015.

According to a release from AIA, the survey examines the preferences of SME employers with regard to group medical benefits, the group medical benefits provided to employees as well as the protection gap and market demand of group critical illness protection.

A key finding of the survey is that employees are dissatisfied with their companies' benefit offerings and group medical benefits are inadequate.

Here's more from AIA:

More than half (56%) of interviewed employers or management said they provide group medical benefits to their employees. Over the last financial year, employers spent an average of HK$1,450 per month on employee benefits for each staff member. They are willing to pay HK$350 in monthly premiums for medical insurance for each employee.

Overall, only half (51%) of surveyed employees are satisfied with their employer’s existing benefit offerings. It is worth noting that the rate of satisfaction among employees without group medical benefits is three-tenths (28%), far below the nearly seven-tenths (68%) among employees covered by group medical benefits and 60% of them consider their existing medical benefits and protection as only fair or inadequate.

Among surveyed employees who have group medical benefits, outpatient benefits (92%), hospitalization benefits (73%) and surgical benefits (32%) are the most commonly covered expenses under their group medical plans, while critical illness and other coverage features are often excluded.