Steps to promote healthcare for MSME workers

MSMEs or Micro, Small, and Medium Enterprise sector are often touted as undervalued and underestimated sectors of the Indian economy. However, on the ground level, it plays a significant role in the economy across all the key parameters: Exports, GDP, and Employment generation.  

For a sector that is contributing so heavily to economic growth, it is of uber importance that the employees who make this sector up are covered on health and wellbeing grounds. But when you look into the number of businesses operating in the MSME sector that provide health benefits to their employees, it is very low.  

The intent of this article is to look into the steps that can be taken to promote healthcare for MSME workers, ensuring that their wellbeing is kept at the top priority.

The state of healthcare for MSME workers in India

According to the research, there is little incentive for major healthcare players to invest in the MSME space because there is little incentive for people working there to use the services. This chicken-and-egg issue is why having state-of-art benefits to MSMEs with healthcare remains a dream for many employees, and indeed employers.

Thankfully though, the digital revolution has changed that. Now, employers can take advantage of digital-first employee healthcare plans like those provided by Onsurity to provide access to high-quality healthcare. The digital change has brought with it an era where the need of healthcare for MSME is addressed on smartphones and computers, making it convenient for not just the employees but also employers.

If you are an employer in the MSME sector, here are four simple steps you can take to promote MSME benefits in employee healthcare space. All the steps mentioned below are strategized keeping in mind the cost and benefit analysis. But before we get into them, let us investigate the reasons why the adoption of benefits like healthcare insurance for MSME workforce has been low.

Why should group health insurance penetration in MSMEs be a priority? 

  1. Health insurance carries a direct correlation to lowering attrition. Today, MSMEs report a 41% attrition rate compared to 17% in medium enterprises. This massive gap raises the issue of urgently creating awareness in the sector around what should be done to promote employee welfare.
  2. Access to proper healthcare is something that directly impacts the efficiency and productivity of a workforce. The fact that medical costs are constantly rising makes it even more important for the sector to provide its employees with the support they need.
  3. One of the biggest challenges that an MSME face is in terms of hiring the best talent and the ability to retain them. As seen in large corporates, health insurance plays a key component in the employee welfare programs that are built to overcome this issue.

The challenges together highlight the immense need to offer healthcare support to MSMEs. However, for a sector that is not very used to the idea, it can all be extremely confusing. Let us solve it today.

Here are the steps the businesses in the sector can take to improve healthcare for MSME workers.

Steps to promote healthcare for MSME workers  

Increase the awareness of healthcare 

The pandemic has shown us why we need to put more focus on healthcare. There is an urgent need to highlight healthcare, especially in areas with limited access to it. As an employer, you need to highlight the right preventive measures. That means ensuring social distancing, mask-wearing and access to sanitizers and soap. 

You also need to think beyond COVID. Look at other hazards in your workplace and find solutions to ensure employees aren’t in any danger. It may be an expensive affair, but it is a one-time cost. Employee healthcare benefits need to become part of your business, not an afterthought. 

Greater access to healthcare benefits 

Employee wellness programs should become a norm, not an exception. As an MSME employer, you need to provide your employees with access to a comprehensive healthcare membership. Employees should have the ability to get their healthcare looked after, no matter how small or big the issue. 

Not only does it make you are caring and responsible employer, but you will also notice an increase in productivity. Employee healthcare benefits can go a long way in making your company a good place to work, so make sure you provide access to affordable employee healthcare. 

Digital-first employee healthcare benefits 

The best way to provide access to healthcare is to go digital. If you are in tier 2 or a smaller city, chances are you might not have access to the best health and wellness services. That’s why going digital is a better option.  

Digital-first business health plans allow employees to access high-quality care, no matter where they are. That means employees can consult the best doctors, get discounts on medicine delivery and other benefits they would not have without going digital. 

Extend Healthcare Benefits to Families 

A caring employee should remember to extend healthcare to employee’s families. It is a great way to show your employees you care, and help them avoid financial woes and mental pressures. The right employee healthcare benefits plan will extend to families, make sure you pick it.  

If you cannot support the cost of adding families, ensure that employees at least have the option to do so, by paying from their own pocket. That’s the smart way to ensure that families have access to healthcare, without hurting their finances.  

Ensure Affordability 

It’s one thing to provide a healthcare plan, but it’s another thing to make sure it is used. Affordability matters a lot, especially in tier 2 and smaller cities where incomes are lower. Thanks to the digital revolution, affordable employee healthcare for MSMEs is very much a reality.  

Today, you can access low-cost employee healthcare benefits plans that do help you save. There are options with monthly subscriptions and similar pricing plans, allowing you to save big on your healthcare costs. 

Wondering where you can get employee healthcare benefits with all these advantages? Why not check out Onsurity. Our digital-first healthcare membership is designed especially for MSMEs. Onsurity is the ideal way to give your employees the healthcare they deserve while helping you save up to 50% on your healthcare.  

Onsurity healthcare for MSME workers