Contractors continue employee health coverage
Most contractors performing projects throughout northern New England continue to provide their employees with medical coverage despite rising insurance costs, according to the 2006-2007 ABC Wage and Benefit Survey conducted by the NH/VT chapter of Associated Builders and Contractors.
The data, collected from 80 contractors who collectively employ 10,000 workers throughout the region, whows that 94 percent of respondents provide their employees with some form of health insurance coverage.
On average, industry employers pay for 75 percent of their workers’ insurance premiums.
Health savings accounts were offered by 13 percent of the survey respondents and 20 percent reported self-insuring some portion of their health insurance.
In addition to health benefits, 83 percent of the contractors participating in the recent survey also provide their employees with 401(k) benefits.
The survey results, which covered 20 classifications of employees, also shows that base wages in the industry increased 3 percent on average during 2006 and 72 percent of respondents provide their workers with some form of incentive or bonus program. – TRACIE STONE