More than eight in 10 UK employees (81%) have had to reduce their spending on healthcare costs, such as optician appointments, dental services and physiotherapy, due to the cost-of-living crisis, according to Health Shield Friendly Society.
In the survey of 590 UK working adults, one in three (32%) respondents say they had cancelled check-up appointments with 37% of the employees surveyed needing to either skip meals or are planning to. And nearly nine in 10 people (87%) are already purchasing cheaper food.
Nearly half (49%) of employees say a pay rise of £100-£200 a month would be needed to make a meaningful difference in supporting them with the increasing cost-of-living.
A huge worry
Jennie Doyle, head of marketing at Health Shield, said: “It’s a huge worry that basic healthcare seems to be taking a hit.
“While the cost-of-living crisis is affecting everyone, it’s clearly those at younger ages and at the lower end of the salary scale that are having to make the most sacrifices.”
Doyle added: “While a pay rise of £100 to £200 a month per employee might be challenging right now for many employers, an investment of around £8 a month per person in a Health Cash Plan could be more realistic.
“Especially when this is considered a genuine investment, not only in the health of employees, but also in the health of the business; helping reduce absenteeism and presenteeism.”
Key findings
- Over a third of employee say that the cost of living crisis has impacted their ability to do their job.
- Employees are viewing the cost of living crisis just as worrying or more worrying than the COVID pandemic.
- Most employees, 86% think that their employers should support them with the increased cost of living.
- Health and wellbeing is something that nearly all employees think that their employees should be supporting them with. 98% say companies should provide employee health benefits.
- 81% of workers would like benefits for the whole family to be offered by their employer.
- With the backdrop of the Great Resignation currently affecting employers, 92% of employees say they would be more likely to stay with an employer that offers health and wellbeing benefits.
Link to survey findings whitepaper landing page: