Academic journal article Monthly Labor Review

Employee Compensation Reports to Include Detail by Type of Insurance

Academic journal article Monthly Labor Review

Employee Compensation Reports to Include Detail by Type of Insurance

Article excerpt

Albert Schwenk is an economist in the Division of Employment Cost Trends, Bureau of Labor Statistics.

In March 1991, health insurance cost employers in private industry an average 92 cents per employee hour worked. This amounts to about 91 percent of all insurance costs; life insurance accounted for about 5 percent, and sickness and accident for the remaining 4 percent.

These proportions held across broad categories of industry, occupation, geographic region, union status, and establishment employment size.

Although the Bureau has published employer costs per hour worked for wages and benefits since 1987, data until now have been provided only for all insurance items combined? This report provides the March 1991 cost per hour worked for the individual insurance benefits. Individual insurance benefit costs also will be included in the annual report, Employer Costs for Employee Compensation, beginning with the March 1992 data scheduled for release in June.

Estimates of the cost per hour worked for individual insurance benefits were not published in 1987 because survey respondents frequently provided cost data only for all insurance benefits combined. This situation improved in subsequent years.

Individual insurance benefit cost estimates can now be published because improved data collection has substantially reduced the proportion of respondents who do not provide costs by type of insurance benefits. …

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