Grand Rounds Introduces Industry-First “Extended Family Benefit,” Reveals Results of Ideal Employee Benefits Survey
Survey Uncovers Insight Into Healthcare Benefits for Today’s Employee; 60 Percent of Employees With Living Parents Feel It’s Important That Benefits Extended to Them; Access to Top Medical Experts Now a Critical Factor in Recruitment
SAN FRANCISCO, CA–(Marketwired – Aug 14, 2013) – Grand Rounds, the premier expert consultation service, today announced the Extended Family Benefit to meet the increasingly complicated needs of familial responsibilities for today’s employee. The company also released findings from its first Employee Benefit Expectations survey, conducted online in July by Harris Interactive on behalf of Grand Rounds among 2,026 U.S. adults, of which 928 are employed full or part time. The survey reveals surprising facts about today’s workforce, including the importance of benefits extending to parents and how far they will travel for expert medical opinions.
Industry’s First Extended Family Benefit
The Extended Family Benefit allows all family members, including dependents, partners, parents and siblings to have access to the unique network of medical experts that Grand Rounds provides. Now, more than ever, families come in all shapes and sizes: the proud parent with a new dependent; the newly employed with not-yet-employed siblings; same-sex couples; and families with aging parents. No matter how you describe the family, a medical crisis weighs on the minds of everyone involved.
“Extended Family Benefit is the one healthcare benefit in the marketplace that covers everyone — the 25-year-old software developer with no kids but an ailing sister, or a marketing director who cares for his parents and children under one roof,” said Owen Tripp, Grand Rounds CEO and co-founder. “Our solution ensures that Grand Rounds patients and their loved ones have access to the best medical expert consultations available.”
The Sandwich Generation and Health Benefits
According to the Pew Research Center, nearly half (47 percent) of adults in their 40s and 50s have a parent aged 65 or older and are either raising a young child or financially supporting a grown child (aged 18 or older). And about one in seven middle-aged adults (15 percent) is providing financial support to both an aging parent and a child. The traditional nuclear family is rapidly evolving and the modern employee is looking for employers that recognize the changing state of familial responsibilities.
The Grand Rounds Employee Benefit Expectations survey found 60 percent of U.S. employees with living parents feel it is at least somewhat important that health coverage extends to their parent(s). As employees widen their definition of family they expect employers to do the same. In addition, 60 percent would be more likely to stay with their employer if free access to expert medical opinions was offered than if only traditional health insurance was offered. And, 68 percent say that when choosing between multiple employment offers, they would be more likely to select an employment offer that includes free access to expert medical opinions that extends to their family. Today’s employee wants better access to top medical expertise as a standard for healthcare benefits, and benefits that extend beyond the nuclear family
Talent Wars and The Importance of Access to Expert Medical Care
With the battle to bring on highly skilled workers surging, human resources executives are getting creative with their benefits packages and looking for new options for today’s modern employee. Striking the right balance between day-to-day fun and the meaningful benefits that enrich an employee’s life can be a challenge. Grand Rounds’ Employee Benefit Expectations survey found that free access to expert medical opinions is considered a more desirable employer offering than annual flu shots.
“There is a real talent war going on in this country, especially here in Silicon Valley. This means that recruiting and retaining top-notch talent no longer means providing weekly happy hours or a ping-pong table. It’s about adding real value to our employees’ lives,” said Rick Foreman, Wealthfront CFO and VP business operations. “Grand Rounds provides our employees with that unique value by providing access to top specialists and expert physicians to employees and their families.”
When an employee faces a medical decision — from a knee replacement to a life-threatening disease — finding answers becomes ominous in a challenging healthcare system. People don’t know where to start, but are willing to go to great lengths to get expert care. The survey demonstrated that more than one in four employees (28 percent) wouldn’t know how to find a qualified medical specialist for a serious illness affecting them or a loved one that could potentially save their life. More than one-third (35 percent) would be willing to pay more than $5,000 for the world’s leading specialist to review their own or a loved one’s case, and more than one-third (35 percent) of those who would travel for an expert medical opinion, would do so anywhere in the U.S. Today’s employee is hungry for better access.
For more information on the Grand Rounds Employee Benefit Expectations Survey, please visit, www.grandroundshealth.com/infographics/employee-benefits-survey/
About Grand Rounds
Grand Rounds is dedicated to providing access to state-of-the-art medical information and opinions from the world’s top physicians to the people who need it most and to the businesses that want to provide the best care for their employees. By presenting the whole patient digitally, Grand Rounds streamlines the diagnosis process and enables anyone to reach the experts for the most current medical expertise, saving time, money and lives. For more information, please visit http://www.GrandRoundsHealth.com and follow @GrandRoundsInc.
This survey was conducted online within the United State by Harris Interactive on behalf Grand Rounds between June 10-12, 2013 among 2,026 adults aged 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Dana Bedessem, grandrounds (at) highwirepr.com.
About Harris Interactive
Harris Interactive is one of the world’s leading market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll® and for pioneering innovative research methodologies, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research. Harris possesses expertise in a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing our client’s research investment. Serving clients in more than 196 countries and territories through our North American and European offices, Harris specializes in delivering research solutions that help us — and our clients — stay ahead of what’s next. For more information, please visit www.harrisinteractive.com.