Florida Salary and Benefits Survey Demonstrates Effects of Affordable Care Act

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Effective Resources, Inc. releases 13th annual survey of Florida salary and benefits data representing over half-million employees.

Florida Salary Survey

Florida Salary Survey

The data yielded from Florida will likely be of interest to anyone curious about the Affordable Care Act's effect on the state.

As Congress weighs in on the Affordable Care Act and the insurance marketplace exchange opens, thoughts turn to how the new legislation affects individual states. Florida employers have been besieged with information regarding the Affordable Care Act the last few months, and the state's salary survey shows employers faced the effects, with nearly 79% reporting medical insurance premium rates of 10% or less. The information in this year's salary survey demonstrates that both employers and employees are experiencing the changes, with employees sharing more and more of the expense.

The State of Florida Salary, Wage and Benefits Survey for 2013-2014 was conducted by Effective Resources Inc, a human resources firm that gathered data from August 1, 2013 to August 31, 2013. 114 companies participated in the survey, with data from 116, 266 employees. The comprehensive survey featured information on merit increases, employee turnover, salary range and more. The survey was compiled using SalarySurveyOnline.com, an online data collection and reporting system.

In addition to benefits, compensation data for 349 positions was surveyed for 17 functional areas: Banking and Finance, Government/Education, Healthcare, Hospitality, Manufacturing and Distribution, Sales (Retail/Wholesale), Services (Business/Consumer), and other industry groups. Wage and salary data is provided in the survey results for 326 jobs in a variety of easy-to-use breakouts including Industry, Region, and Company Size by Employees, and Company Size by Sales/Assets.

Regarding the health care changes, the survey reported that employee only coverage for out-of-pocket expenses is down 4.5% from last year, while family coverage is 3.9% higher. The employees' portion of medical premiums is reported at 27.9% which is an increase from the 25.6% reported last year.

Also in the report, Florida's unemployment went down slightly from August 2012's 8.6% to 7%. The change, though slight, is lower than the national average. Turnover in the state at 2% is also lower than the national average of 3%. However, it must be noted that the national average data included workers who gave up a job search, whereas the survey conducted by Effective Resources Inc only received data from employers.

“With the Affordable Care Act coming into effect, our data is more important than ever,” said Barry Brown, President of Effective Resources Inc. “The data yielded from Florida will likely be of interest to anyone curious about the Affordable Care Act's effect on the state.”

To learn more about this survey, please visit http://www.SalarySurveyOnline.com and http://www.EffectiveResources.com for more information.

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Barry L. Brown SPHR CCP
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