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The Principal Financial Well-Being Indexsm Executive Summary - Third Quarter 2004

Summary of Survey Findings

Current State:

  • Fewer employees are 'extremely happy about their financial well-being' in 3rd Quarter compared to 1st Quarter 2004 (26% versus 34%).
  • Fairly consistently over the few years, 1 out of 4 SMB employees (27%) have not yet planned their retirement savings/security.

Look to Retirement:

  • Expected age of retirement climbs as employees' age groups increase—18-34 year olds expect to retire at age 64, while 55+ year olds expect to retire at age 67.
  • Overall, 71% of SMB employees don't have a plan for how they will transition savings into a steady stream of retirement income. Employees over the age of 55 are more likely to have a plan, 45% say they have a plan.
  • Majority of SMB employees (53%) expect their standard of living will decline in retirement. Particularly for employees over the age of 55, 2 out of 3 (66%) say their standard of living will decline in retirement.

Retirement Savings:

  • Based on 3rd Quarter results, 68% of SMB employees are offered a defined contribution retirement plan at their place of employment. Of those offered a defined contribution plan, 91% are offered a 401(k) defined contribution plan.
  • Although 96% say they are eligible to participate in their employer-sponsored 401(k) retirement plan, only 82% elect to make contributions to their plan. Of those participating (1% or more), the average deferral rate is 7.09% - the median deferral rate is 6.0%. Of those eligible to participate (whether contributing or not), the average deferral rate is 5.78%.
  • Majority of employees participating in their 401(k) retirement plan have not changed their contributions in the past 2 years.

Employers Assist in Retirement Savings:

  • Employers have not yet embraced the practice of automatically enrolling eligible employees into their 401(k) retirement plan with a set deferral rate. Only 16% of employees noted their employers doing this.
  • SMB employees are split between supporting and opposing automatically enrolling employees into retirement plans with a set deferral rate between 1 and 3% of annual salary – 36% support and 36% oppose.
  • 47% of employees agree they would enroll in a program that would automatically increase their 401(k) deferral rate 1% each year—1 in 4 employees (24%) disagreed.
Making Investment Choices:
  • Employees were split between preferring to select their own investment funds (51%) and preferring to have someone manage their investments for them (45%). Variances were present between age groups—60% of 18-34 year olds preferred to have someone manage their accounts, while only 33% of 35-44 year olds said the same.
  • Of those employees who prefer to have someone manage their investments for them, the majority (52%) prefer to select lifestyle or target date funds that are handled by a fund manager based on their estimated retirement year. 29% prefer to select professionally managed accounts in which fee-based financial advisors make investment choices on their behalf.

Current Events:

  • 97% of employees have seen an increase in weekly spending due to the rising cost of gasoline and groceries. 69% of employees noted an increase of $50 or less per week, and 28% noted an increase of more than $50 per week.
  • 88% of SMB employees intend to vote in the upcoming Presidential election in November. Variances are seen across age groups. The key issues in election are: the economy/jobs (81%), healthcare (71%), homeland security (60%), and financial well-being (58%).

Workplace Issues:

  • Majority of SMB employees (58%) are not concerned about their job being outsourced overseas, while 23% are concerned.
  • 30% of SMB employees said they are working more this year compared to the same time last year. This is up significantly from the 1st Quarter 2003 study, which reported 22% of employees saying they were working more.
  • 16% of employees agreed that they would lose vacation time this year because they can't afford to take the time off - 71% disagreed.
  • 40% of employees agreed that they need more vacation time than is allocated to them each year – 38% disagreed.
  • 44% of employees agreed that they prefer to save, bank, or store their vacation time for unforeseen future events - 32% disagreed.

Results

Methodology: The Principal Financial Group, the nation's 401(k) leader, commissioned Harris Interactive® to conduct online research with employees (ages 18+) of small and mid-sized U.S. businesses (firm size 10 - 1,000 employees) about their attitudes and perceptions regarding their financial well being. Harris Interactive conducted The Principal Financial Well-Being Index survey with over 1200 employees online from August 19 to September 2, 2004. In theory, with a probability sample of this size, one can say with 95% certainty that the results have a statistical precision of ± 3 percentage points; however, this online sample was not a probability sample. "Propensity score" weighting was used to adjust for respondents' propensity to be online. This is one in a series of quarterly studies to identify and track changes in the workplace of small and mid-sized (growing) businesses. The first Principal Financial Well-Being Indexsm survey was conducted in the United States in 2000.

Benefits Offered at Small and Mid-Sized Businesses (SMBs)
The top benefits offered at SMB firms are health insurance, defined contribution retirement plans, life insurance, free parking, and disability insurance.

Table 1
"What types of benefit programs (excluding vacation/holidays) does your company currently offer you?"
Base: 1,227 U.S. Adults age 18+

Company Sponsored Primary Benefits

3 Qtr 2004

1 Qtr 2004

Health Insurance

90%

90%

Defined Contribution Plans

68

70

Life Insurance

66

69

Free Parking

65

60

Disability Insurance

55

52

Flex Time

33

28

Tuition Reimbursement

30

35

Profit Sharing/Bonus

25

27

Defined Benefit Plans

22

20

Financial Planning

11

11

Stock Options

8

11

Personal Banking Services

8

8

Executive Benefits

3

4

Child Care Subsidies

2

3

On-site Day Care

2

3

Other

6

8

  • Significantly fewer employees working for firms with 10-100 employees are offered tuition reimbursement than employees working for larger firms with 101-500 employees (19% vs. 42%).
  • Significantly fewer employees working for firms with 10-50 employees are offered health insurance and life insurance than employees working for larger firms with 51-500 employees.

Benefit Satisfaction
Upon identifying what benefits they are offered through their employers, employees were asked to rate their satisfaction with some of the major benefits. Employees are most satisfied with their defined benefit and defined contribution retirement plans each with 53% noting they are satisfied.

Table 2
"...You indicated that you have the following benefit program(s) through your company. Using a scale from "1" to "10", where "1" means Not At All Satisfied and "10" means Very Satisfied, indicate how satisfied you are with each benefit program.
Percentages included in chart represents those rating satisfaction as an 8, 9 or 10.
Base: U.S. Adults age 18+ varies by benefit offered

Satisfaction with Benefit

3 Qtr 2004

1 Qtr 2004

Defined Benefit Plans (N=306)

53%

46%

Defined Contribution Plans (N=850)

53

43

Life Insurance (N=831)

45

40

Profit Sharing/Bonus (N=289)

44

38

Disability Insurance (N=679)

43

38

Health Insurance (N=1119)

40

35

Stock Options (N=89)

37

32

  • Employees are more satisfied with their defined contribution plans in 3 rd quarter 2004 compared to 1 st quarter 2004 (53% versus 43%).

Benefit Importance
All employee respondents were asked to rate each benefit in terms of how important is was to them on a 10-point scale with 10 being "Very Important." The top rated benefit in terms of importance is health insurance followed by defined contribution plans.

Table 3
"Using a scale from "1" to "10", where "1" means Not At All Important and "10" means Very Important, please indicate how important each benefit program is to you."
Percentages included in chart represents those rating importance of an 8, 9 or 10.
Base: 1,227 U.S. Adults age 18+

 

3 Qtr 2004

1 Qtr 2004

Health Insurance

89%

92%

Defined Contribution Plans

68

74

Defined Benefit Plans

54

59

Disability Insurance

51

58

Life Insurance

46

53

Profit Sharing/Bonus

39

47

Stock Options

14

20

Benefits for Recruit & Retention
SMB firms offer employee benefits to aid in the recruiting and retaining of quality employees. To measure how employees react to the presence of good employee benefits, they were asked to rate how much they agreed or disagreed with a series of questions. Almost 2 out of 3 employees (64%) agree that a good employee benefits plan keeps them working for their current company and encourages them to work harder and perform better. Table 4 shows the breakdowns for each statement.

TABLE 4
"Please indicate the extent to which you agree or disagree with the following statements..."
Base:1,227 U.S. Adults age 18+

 

Agree*

Neither Agree/ Disagree

Disagree*

Having a good employee benefits plan encourages me to work harder and perform better.

64%

26%

10%

Having a good employee benefits plan keeps me working for my current company.

64

19

16

My company is concerned about my long-term financial future.

26

29

44

*Completely or Somewhat Agree/Disagree

  • Significantly more employees with children in the household felt their companies were concerned about their long-term financial future than those without children (34% versus 24%)

TABLE 5
"Please indicate the extent to which you agree or disagree with the following statements..."
Percentages included in chart represents those noting Completely or Somewhat Agree.
Base: 1,227 U.S. Adults age 18+

Trending Comparison (% of respondents agreeing completely or somewhat)

3 Qtr 2004

1 Qtr 2004

Having a good employee benefits plan encourages me to work harder and perform better.

64%

71%

Having a good employee benefits plan keeps me working for my current company.

64

60

My company is concerned about my long-term financial future.

26

25

Employee Perception of Financial Well Being
In measuring employees' attitudes and perceptions about their financial well-being, a series of different questions were asked of them. First they were asked to identify how much they agreed with some statements relating to how concerned they are about their long-term financial future and how happy they are about their current well-being. According to Table 6, 3 out of 4 employees are very concerned about their long-term financial future and only 1 out of 4 employees are extremely happy with their current well-being.

TABLE 6
"Please indicate the extent to which you agree or disagree with the following statements..."
Base: 1,227 U.S. Adults age 18+

 

Agree
(Rate 4, 5)

Neutral
(Rate 3)

Disagree
(Rate 1, 2)

I am very concerned about my long-term financial future.

78%

11%

11%

I am extremely happy about my current financial well-being.

26

24

50

I have not yet planned for retirement savings/security.

27

15

58

TABLE 7
"Please indicate the extent to which you agree or disagree with the following statements..."
Percentages included in chart represents those noting Completely or Somewhat Agree.
Base: 1,227 U.S. Adults age 18+

Completely/Somewhat Agree

3 Qtr 2004

1 Qtr 2004

I am very concerned about my long-term financial future.

78%

76%

I am extremely happy about my current financial well-being.

26

34

I have not yet planned for retirement savings/security.

27

26

Job Security
Job security continues to top the importance chart when compared to long-term financial future and challenging work. In the most recent study, 48% rated job security as number one in importance to them followed by long-term financial future and challenging work. Table 8 shows the percentage of employees rating the items number one in importance for this quarter as well as 6 months ago.

TABLE 8
"Please rank the following items in terms of how important it is to you."
Percentages in chart represent the proportion of employees who rated the item number 1 in importance.
Base: 1,227 U.S. Adults age 18+

Respondent Ranked Item #1

3 Qtr 2004

1 Qtr 2004

Job Security

48%

52%

Long-Term Financial Future

33

31

Challenging Work

19

17

Investment Changes
Of those respondents with retirement savings, 74% of employees have not made changes to their retirement savings due to current economic conditions. The remaining 26% of employees have made changes in how their retirement savings are invested—21% moved to stable and 5% to more volatile investments.

Chart 9
"Given the current stock market and economic conditions, have you made changes in how you have your retirement savings invested?" Base: 1,147 U.S. Adults age 18+

Chart 9 showing 74% of employees have not made changes to their retirement, 26% have made changes

PLANNING FOR RETIREMENT
The average age at which SMB employees expect to retire is age 65. When looking at the current age of the employee, you will see that as employees are closer to retirement the estimated age for retirement increases from 64 to 67. Table 10 shows the breakdowns for each group.

Table 10 Age of Retirement
"Realistically at what age do you expect to retire?"
Base: 1,227 US Adults age 18+

Expected Retirement Age

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Age 60 or Younger

18%

30%

20%

15%

5%

Age 61 to 65

30

29

30

31

31

Age 66 to 70

27

18

29

24

39

Age 71 or Older

6

10

6

4

7

Don't Plan on Retiring

20

15

17

27

19

Average Retirement Age

65

64

65

65

67

*Age 18-34 N=187; Age 35-44 N=246; Age 45-54 N=414; Age 55+ N=380

Employees were asked to identify how they think their standard of living will change when they enter retirement based upon what they have saved or are saving. The majority feel that their standard of living will decline in retirement, especially for the older age groups.

Table 11 Standard of Living
"Based on what you have saved or are saving for retirement, which of the following do you think will happen to your standard of living in retirement?"
Base: 1,015 US Adults age 18+ who expect to retire

 

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Standard of living will improve

4%

9%

2%

3%

1%

Standard of living will remain the same

43

52

46

40

33

Standard of living will decline

53

38

52

57

66

*Age 18-34 N=160; Age 35-44 N=209; Age 45-54 N=326; Age 55+ N=320

Employees were also asked if they have a plan for how they will transition their retirement savings into a steady stream of income in retirement; the majority (71%) said they do not have a plan. In Table 12, you will see that as the age of employees increase, the likelihood of them having a plan increases from 19% to 45%.

Table 12 Plan for Retirement Income
"Do you have a plan for how you will transition your retirement savings into a steady stream of income in retirement?"
Base: 1,015 US Adults age 18+ who expect to retire

 

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Yes - have plan to transition retirement savings into steady stream of income

29%

19%

26%

29%

45%

No - don't have a plan for transitioning retirement savings.

71

81

74

71

55

*Age 18-34 N=160; Age 35-44 N=209; Age 45-54 N=326; Age 55+ N=320

  • Male respondents are more likely to have a plan for how to transition their retirement savings into a steady stream of income in retirement than female respondents (38% versus 22%).

Participation in Employer-Sponsored 401(k) Retirement Plan
According to Table 1, 68% of employees noted they are offered a defined contribution (DC) retirement plan through their employer. The majority (91%) of those DC plans are 401(k) retirement plans. Employees were asked if they were eligible to participate in the 401(k) plan, and 96% said they were.

Table 13 Eligible to Participate in 401(k) Plan
Base: 850 Employees with a Defined Contribution Plan at Place of Employment

Table 13 - 96% of employees are eligible to participate in 401(k) plan, 4% are not eligible

Although employees are eligible to participate, doesn't necessarily mean they participate. When asked how much they defer into their retirement plan, 82% of respondents noted they contributed something while 18% said they don't contribute at all. The chart below shows the breakdown between contribution ranges – the most frequently noted percentage was 1-5% of annual salary.

Table 14 Deferral Rate for 401(k)
Deferral Rate
Base: 707 Employees eligible for 401(k)

Deferral rate for 401(k)

Of the employees who participate in their 401(k), a follow-up question was asked to see if they had changed their contribution amount in the past 2 years. 62% have not changed their contributions while 31% said they had increased their contributions. Table 15 below shows the percentages for each.

Table 15 Change Deferral In 2 Years
"Have you changed the amount you defer into your 401(k) retirement account within the past 2 years?"
Base: 560 US Adults age 18+ participating in 401(k)

Changes Made in Last 2 Years

3 Qtr 2004

Increased Deferral Rate

31%

Same Deferral Rate

62

Decreased Deferral Rate

7

Automatic enrollment is a newer concept which may or may not be put into place by employers. In automatic enrollment, the employer enrolls all eligible employees into the retirement plan and starts the deferral process by imposing a minimum deferral rate between 1 and 3 % of annual salary. Employees were asked if their employer has automatic enrollment and only a small proportion of 16% said their employer did.

Table 16 Automatic Enrollment
"Does your employer automatically enroll all employees in their 401(k) retirement plan with a set deferral rate percentage (e.g. 1-3% of annual salary)?"
Base: 1,227 US Adults age 18+

73% do not have automatic enrollment in their 401(k), 16% yes and 11% not sure

Knowing that only 16% of employers automatically enroll employees in their 401(k) plan, employees were asked if they agreed with such a practice. Opinions were split with 36% supporting automatic enrollment and 36% opposing it. Table 17 shows the specific breakdown.

Table 17 Agree With Auto Enroll
"Please indicate the extent to which you agree or disagree with the following statements. All eligible employees should be automatically enrolled into their employer sponsored 401(k) retirement plan with a set deferral rate."
Base: 1,227 US Adults age 18+

Agreement Towards Auto Enroll

3 Qtr 2004

Completely/Somewhat Agree

36%

Neither Agree/Disagree

28

Completely/Somewhat Disagree

36

Aside from the automatic enrollment, employees were asked about a program that would automatically step up their deferral rates 1% each year. Based on responses, 47% of employees agreed that if offered this type of program they would enroll to increase their deferral rate 1% each year. Table 18 shows these results.

Table 18 Employee Would Enroll in Program to Increase Deferral
"Please indicate the extent to which you agree or disagree with the following statements. If offered, I would enroll in a program that would automatically increase my 401(k) deferral rate 1% each year."
Base: 1,227 US Adults age 18+

Agree Towards Increasing Deferral

3 Qtr 2004

Completely/Somewhat Agree

47%

Neither Agree/Disagree

29

Completely/Somewhat Disagree

24

Managing Investments
SMB employees were asked to identify how they prefer to make investment decisions regarding their retirement plan. Results were split fairly evenly between those who prefer to select their own investment funds and those who prefer to have someone manage investments for them. Differences were present between the respondents' age groups - the younger age group preferred to have someone manager their investments while the older age groups preferred to do it themselves. Table 19 shows the specific breakdowns. Additionally, those respondents who noted they prefer to have someone manage their investments were also asked if they preferred lifestyle funds handled by a fund manager or fee-based financial advisors acting on their behalf. The largest proportion of employees noted that lifestyle funds were their preferred method.

Table 19 Investment Choice Preference
"Which of the following statements best describes how you prefer to make investment choices in your company-sponsored retirement plan?"
Base: 850 US Adults age 18+ with a Defined Contribution Plan

 

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

I prefer to select investment funds/accounts on my own.

51%

35%

63%

55%

46%

I prefer to have someone manage my investments for me.

45

60

33

41

49

Other

4

5

3

4

4

*Age 18-34 N=127; Age 35-44 N=185; Age 45-54 N=291; Age 55+ N=247

Table 20 Investment Choice Preference
"Which of the following approaches would you select if you had someone manage your company-sponsored retirement plan investments for you?"
Base: 359 US Adults age 18+ who prefer to have someone manage his or her investments

3 Qtr 2004

Select lifestyle/target date funds that are handled by a fund manager based upon my estimated retirement year

52%

Select professionally managed accounts—fee-based financial advisor making investment choices on my behalf

29

Neither of these

19


CHANGE IN SPENDING DUE TO HIGHER PRICED GOODS
SMB employees were asked to identify how much more they spend each week on gasoline and groceries for their families due to the rising cost of these goods. Of employees, 97% have seen an increase in weekly spending due to the rising cost of gasoline and groceries. In total, 69% of employees noted an increase of $50 or less per week, and 28% noted an increase of more than $50 per week. Table 20 shows the cost increases in smaller increments and across age groups.

Table 21
"Compared to last year, how much more do you estimate you have spent each week on gasoline and groceries for your family due to the rising cost of these goods?"
Base: 1,251 US Adults age 18+

 

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

No Increase

3%

1%

4%

5%

3%

Less than $25 per week

26

37

23

21

24

$25 to $50 per week

43

46

44

40

43

$51 to $75 per week

17

11

19

23

15

More than $75 per week

11

7

11

12

14

*Age 18-34 N=187; Age 35-44 N=246; Age 45-54 N=414; Age 55+ N=380

Table 22
"Considering the trend of outsourcing jobs overseas, how concerned are you about the security of our own job?"
Base: 1,227 US Adults 18+

Concerned with Outsourcing of Jobs

3 Qtr 2004

Very/Somewhat Concerned

23%

Neither Concerned/Unconcerned

19

Very/Somewhat Unconcerned

58

  • No difference by size of firm the employee works in.

2004 PRESIDENTIAL ELECTION
SMB Employees intend to cast their votes in the Presidential election in November with 88% of respondents planning on voting. There are slight variations between respondent age groups - see Table 23. The key issues concerning employees is the economy/jobs, healthcare, homeland security, and financial well-being - see Table 24.

Table 23 Intend to Vote
"Do you intend to vote in the upcoming presidential election in November?"
Base: 1,227 U.S. Adults age 18+

 

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Intend to Vote

88%

82%

92%

87%

94%

Don't Intend to Vote

4

6

1

7

2

Not Sure

7

12

7

6

3

*Age 18-34 N=187; Age 35-44 N=246; Age 45-54 N=414; Age 55+ N=380

Table 24 Issues
"What issues are you most concerned about in the upcoming election?"
Base: 1,227 U.S. Adults age 18+

Key Issues 3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Economy/Jobs

81%

78%

84%

82%

82%

Healthcare

71

64

70

69

82

Homeland Security

60

53

59

59

69

Financial Well-Being

58

56

59

55

62

Education

45

53

46

43

39

Other

19

22

21

20

12

None

1

2

-

2

1

*Age 18-34 N=187; Age 35-44 N=246; Age 45-54 N=414; Age 55+ N=380

Workplace Issues

Thirty percent of SMB employees said they are working more this year compared to the same time last year. This is up significantly from the 1st Quarter 2003 study, which reported 22% of employees saying they were working more.

Table 25 Length of Workweek
"Compared to this time last year, how has the length of your average workweek changed?"
Base: 1,227 US Adults age 18+

3 Qtr 2004

1 Qtr 2003

Working more this year

30%

22%

Working the same

64

68

Working less this year

6

10

Vacation time allotted to employees varies by employer and at times employees can be limited in their ability to use it when desired. To understand if employees are being limited by vacation time, they were asked a series of questions related to where or not they would lose vacation time this year, if they needed more time off, and their preferences for saving it. Listed below is a summary of these questions as well as Tables 26, 27, and 28 which show each question separately.

  • 16% of employees agreed that they would lose vacation time this year because they can't afford to take the time off - 71 % disagreed.
  • 40% of employees agreed that they need more vacation time than is allocated to them each year - 38% disagreed.
  • 44% of employees agreed that they prefer to save, bank, or store their vacation time for unforeseen future events - 32% disagreed.

Table 26 Vacation Time
"Please indicate the extent to which you agree or disagree with each of the following statements.
"This year I will lose vacation time I have earned because I can't afford to take the time off ."
Base: 1,227 US Adults age 18+

Key Issues

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Completely/Somewhat Agree

16%

16%

13%

18%

16%

Neither Agree/Disagree

13

15

15

12

11

Completely/Somewhat Disagree

71

69

72

70

73

*Age 18-34 N=187; Age 35-44 N=246; Age 45-54 N=414; Age 55+ N=380

Table 27
"Please indicate the extent to which you agree or disagree with each of the following statements.
I need more vacation time than I have allotted to me each year ."
Base: 1,227 US Adults age 18+

Key Issues

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Completely/Somewhat Agree

40%

44%

38%

42%

33%

Neither Agree/Disagree

23

16

27

23

26

Completely/Somewhat Disagree

38

40

35

36

41

*Age 18-34 N=187; Age 35-44 N=246; Age 45-54 N=414; Age 55+ N=380

Table 28
"Please indicate the extent to which you agree or disagree with each of the following statements.
I prefer to save, bank, or store my vacation time for unforeseen future events."
Base: 1,227 US Adults age 18+

Key Issues

3 Qtr 2004

Employee Current Age

18-34*

35-44*

45-54*

55+*

Completely/Somewhat Agree

44%

50%

42%

41%

44%

Neither Agree/Disagree

24

20

25

27

23

Completely/Somewhat Disagree

32

30

33

33

33

*Age 18-34 N=187; Age 35-44 N=246; Age 45-54 N=414; Age 55+ N=380

Health Spending Account
Some employers are offering employees a new type of health insurance that has a higher deductible and a savings account built in. To understand the penetration rate of this type of plan, employees were provided a brief description and asked if they participate in such a plan. Only 9% of respondents participate in a high deductible plan with a savings account. Table 29 provides a description and results.

Table 29 Health Spending Account
"I'd like to describe a new type of health insurance to you. There are two parts to this insurance. The first is the actual health insurance, which has a high deductible-usually at least $1,000 for individual coverage and $2,000 for family coverage. This means that you pay for the first $1,000 or more of medical expenses yourself.
The second part is a health savings account in which you or an employer can deposit money tax-free to be used for your medical expenses. Do you currently participate in this type of health plan, with a very high deductible of at least $1,000 for a single person and a savings account?"
Base: 1,227 US Adults age 18+

3 Qtr 2004

Yes

9%

No

88

Not Sure

3

 

Harris Interactive® (www.harrisinteractive.com) is a worldwide market research and consulting firm best known for The Harris Poll®, and for pioneering the Internet method to conduct scientifically accurate market research. Headquartered in Rochester, New York, Harris Interactive combines proprietary methodologies and technology with expertise in predictive, custom and strategic research. The Company conducts international research from its U.S. offices and through wholly owned subsidiaries-London-based HI Europe (www.hieurope.com), Paris-based Novatris and Tokyo-based Harris Interactive Japan—as well as through the Harris Interactive Global Network of independent market- and opinion-research firms.

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