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The lower, middle, and high schools industry comprises both public and private school facilities nationwide. There are many different types of elementary, middle level, and high schools that educate young minds across the United States, and this industry has experienced growth within the past few years that isn't expected to slow down any time soon.
Considering that the public and private education industry is so important to the foundation of our society, it is of extreme importance for school employers to provide their teachers and support staff with the best benefits packages possible. Generally speaking, this includes offering access to health, vision, and dental insurance, short-term and long-term disability coverage, a life insurance plan, retirement savings accounts, and paid time off.
For educational services, the school boards and trustees often play a key role in the insurance broker and carrier selections. For public institutions, benefits are usually organized on a regional or even statewide basis and there tends to be a higher level of unionization. With a higher percentage of females, short and long term disability is important. Complications include working for 9 months out of the year, yet needing coverage for 12 months so the way certain things are approached from payroll deductions to enrollment have to be customized. Traditionally, educational institutions have shown a higher uptake of voluntary plans, making employee education extremely important.
There are around 22,000 elementary, middle, and high schools nationwide, employing over 1 million educators. On average, each school has 47 staff members, with 76% of the employees identifying as female and the median employee age is 44 years old.
41% of employers offer short-term disability insurance, and 53% provide a long-term disability option. The national average is 42% and 34%, respectively.
64% offer life insurance coverage. The national average is 56%.
The lower, middle, and high schools industry offers great employee benefits that are well above the national industry standard. While these employers can improve their retirement offerings to better align with the national average, overall, this industry does a great job in providing all-inclusive lower, middle, and high school benefits plans.
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