Choosing the right healthcare plan for employees is not the end-game indeed. Employer’s responsibilities go beyond, where educating employees regarding the prospects of benefits is of utmost importance. Learning about the terms and conditions of healthcare plans may be intimidating for employees. This is where the need for appropriate assistance kicks in, and employers can help employees who abstain from the benefits.
But, what do employees need to know about their employee benefits exactly? Let’s find out.
Following is the brief checklist of things to know about employee healthcare plan
Enrollment and claim process
Health care plans terms and conditions range. Some plans provide cut-off out-of-pocket expenses, while others must be paid upfront and claimed later on. Enrollment and the contribution also differ for each of these health care plans. A fast and easy claim process is a dream for an insured person. Employees must know about the terms and conditions of each of the health care options provided so that they can make a final call.
In health insurance for employees – Premiums, irrespective of the amounts you pay, must provide a wide range of coverage. At least this is what employees seek- not only a plan which would require a lower premium but a plan which would disburse appropriate returns.
Out-of-pocket expenses are yet another coverage prospect you need to monitor. What is the extent of medical coverage under the plan? Does the plan provide exclusive consultation coverage or include medication? Are hospitalization and emergency coverage included? Is there any sort of family and maternity benefits had? These are some of the questions employees ask, and it is your responsibility to answer them.
Appropriate premium and insurance amount
Employee’s obligation includes the constituents of the plans, such as premiums, deductibles, copays, and coinsurance. Employees need to know how much an insurance policy would cost them to evaluate the likelihood of a specific plan being the perfect match. Document the entire set of details regarding the cost of an insurance plan, and distribute it among your employees. This would give them all the assistance to make the right decision.
Doctors and hospitals within the network
Employees need to know the network of hospitals which the insurer covers in corporate health insurance policy. You must target the insurers who provide a vast network of hospitals, facilitating easy treatment. Cashless networks of hospitals provide quick and cashless medical assistance at the time of hospitalization or emergency. Employees must comprehend instances where they can get immediate assistance.
Due dates and renewals
Employees must know about all the dates of premium payment and validity. Speaking in terms of renewal prospects, employees must know the maximum time interval for renewability. Preferably, include health care plans which provide a lifetime worth of renewability options. This would ensure employee welfare at old age, which is a consideration for the majority of employees.
Apart from employee medical insurance plans, Free medical checkups are often a pivotal part of majority plans. Educate your employees regarding any free consultation included within the brackets of the plan. Employees highly appreciate such perks, and it also consists of any wellness incentives as well.
Hospitalization perks and shortcomings
There is a defined procedure before being hospitalized and a follow-up process post-hospitalization. All such doctor visits, medicine, and test expenses are included under each plan. Employers must convey to the employee, what are the prospects of coverage in case of hospitalization. It would be in the employer’s best interest to provide a plan that covers the mentioned expenses.
Employer’s efforts to make the plan affordable count under this point. With extreme concern, employers make amendments to help reduce their employee’s out-of-pocket expenses. Employees must be made aware of any tax benefits, which are part of the plan as well.
There are advantages of employee health insurance policies indeed, but comprehensive healthcare is the way to go, to make it a complete package for better health.
There is a need for added benefits – Inclusive are the added perks and benefits employees would be entitled to, such as a pathway to save some money or health improvement. Examples that best describe this point are gym membership, health coach at the disposal, and more.
Expanded voluntary benefits
You must as well convey the prospects of voluntary benefits. It can be regarding anything, i.e., conventional voluntary benefits such as dental, vision, life and disability insurance, or otherwise. Streamlining all such services would form a better relationship with your employees since satisfaction would become apparent.
Health care needs do not remain stagnant through the course of life. When people approach a different phase of life, they tend to have different needs, and so, you must educate your employees regarding any alteration measures rendered within the plan.
Employee deliberation includes being insured for medical emergencies, which are dynamic. Providing the best medical plans and assistance would let you best gain your employees’ trust and confidence.
The Bottom Line
So, these are the things to know about employee healthcare plan. Also did you have an idea that the employee healthcare programs have been shown to improve employee engagement, strengthen company culture, and inspire collaboration across teams?
Well, apart from that, they can also help an organization grow exponentially and retain key talent and top performers.
As a startup or SME, it can be hard to find a healthcare plan that suits your needs. Onsurity has built a range of employee healthcare benefits programs.
Our unique healthcare membership gives MSMEs and startups access to useful added benefits like doctor teleconsultations and discounted medicine delivery. We have also added health insurance for SMEs and startups, as a part of our membership plan, making it affordable at the same time.
Our business health plans are employee wellness programs, designed for the all-round wellbeing of your team.
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