Why Just Offering a Healthcare Plan to Employees Isn't Enough

Posted by Joe McErlane on Jun 25, 2019 8:30:00 AM

Whether you are genuinely concerned about your employees' health and wellness or you want to stay competitive during the lowest unemployment rate in years, simply offering a healthcare plan may no longer be enough. Here are a few reasons why.

Healthcare Plans aren't Enough

Underutilization or Misuse of Healthcare Plan Options Can Be Costly

Simply offering a healthcare plan doesn't mean it's going to be utilized. Employees may not understand their plan options or know what is available to them. Even if they understand the plan, they may not make enough to be able to afford to take advantage of it.  

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Premiums and deductibles are at an all-time high, so it can be difficult for employees to budget for their health, even with insurance. This often leads to people ignoring their health issues until they are so sick they are forced to go in. Typically, in this situation, they end up going into a high-cost facility like the ER or an urgent care where they don't have an established relationship with a provider. Wide spread, high cost treatments like these can drive premiums up even further when it comes time to evaluate at the end of the year. Here are some tips on how to keep costs under control.

Healthcare Alone May Not Be Enough to Remain Competitive

The reality of today's hiring climate is that potential employees, especially good ones, are able to be extremely picky. Unemployment is at an all-time low and companies need to raise the bar on their benefits in order to remain competitive.

Good healthcare options are considered more of an expectation at this point than most other types of potential benefits. If you don't currently offer healthcare, or you have only high cost options, you are probably finding it more and more difficult to attract and retain good employees.

Modern employee candidates are looking to check excellent healthcare off of the list immediately followed up by the questions, "What else do you have to offer?" You should have an answer that extends into additional benefits regarding employee health and wellness such as flex/remote work, fitness options, unlimited PTO, or even financial wellness.

Additionally, healthcare options can help you retain the employees you already have. Read more about that here

A Healthcare Plan Doesn't Encourage a Culture of Health & Wellness

Healthcare Plans aren't Enough

Your company culture can have a massive impact on your employee's health and wellness. Building a culture of health and wellness has many benefits, including increasing productivity and job satisfaction, developing employee engagement and loyalty, and decreasing stress or anxiety.  Here are some ways you can promote health and wellness in your workplace.

Each of these factors can have an effect on your company's bottom line as employees begin to value their own wellness and take steps to increase their health. Did you realize your employees' health also has an impact on your company culture? An increase in overall health and wellness will drive your company health costs down and save on sick time.

There May Be a Better Way

Traditional insurance may not be the best option for your workforce. If your employees work long hours, if there are hazards in your workplace, or even if it is tough to offer enough paid time off due to strict scheduling needs, it may actually be a good idea for your company to consider implementing an onsite clinic.

An onsite clinic brings the healthcare directly to your employees, right down the hall from where they spend the majority of their time throughout the week. The ease of accessibility opens the door for many employees to see their provider more regularly and take control of their healthcare.

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Topics: Employee Benefits, Healthy Workplace

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