Speculation about “job-locked” employees who stay on the job only for insurance benefits has been mostly anecdotal — until now.
Four in 10 employees would leave their jobs if they could purchase health insurance on the open market that is comparable to their existing coverage and out-of-pocket expenses, according to a survey by the Securian Financial Group. The company spoke with 767 employed Americans in April. Ninety-four percent of respondents worked full time, and the others worked part time.
The results align with a Congressional Budget Office estimate that, because of the Patient Protection and Affordable Care Act, employees may “choose to supply less labor” — equal to two million jobs — between 2017 and 2024.
Most respondents (91 percent) said they like the work they do in their current jobs, and 83 percent are satisfied or somewhat satisfied with their existing health insurance. Even so, many of them would consider trying something different.