Benefits and the Total Compensation Package

This article from CNN.com-"The Hidden Costs of Changing Jobs"-provides the following statement about the cost of benefits as it relates to an employee's total compensation: According to the Congressional Budget Office Special Studies Division, benefits represent anywhere from 24 to…

This article from CNN.com–“The Hidden Costs of Changing Jobs“–provides the following statement about the cost of benefits as it relates to an employee’s total compensation:

According to the Congressional Budget Office Special Studies Division, benefits represent anywhere from 24 to 50 percent of an employee’s total compensation package. And the plan offerings and value vary greatly from company to company based on the deal the organization negotiates with insurance carriers as well as the percentage of costs it chooses to pass along to employees.

When it comes to health insurance, for example, even among major companies the percentage of total costs employers pay ranges between 70 percent and 100 percent. Meaning your health care costs can vary from $150 to $2,000 from employer to employer.

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