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Top Tips to Ensure That You Provide Effective Employee Health Coverage
Featured Best Practice on Employee Retention
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As a business owner, you are probably aware of the importance of providing employee health coverage to your employees. It helps with recruitment and ensures that your employees stay healthy and productive in their jobs. This article will look at tips that will help you choose an effective employee health plan.
Provide Health Coverage for All Employees
The first tip to ensuring that you provide adequate employee health coverage is to offer it for all employees. It’s essential to provide the same health insurance plan for all employees, as this will make it easier for them to access their coverage from anywhere and on any device.
It can be done by having one company-sponsored plan that covers everyone, including part-time and full-time employees, contract workers (temps), interns, etc. It will allow people of all organizational statuses equal access to your health benefits.
It’s also essential that these plans offer various options in terms of deductible amounts, annual out-of-pocket maximums (amounts), co-pays, or co-insurance percentages required before receiving services under the plan. And whether or not they cover vision care and dental work such as fillings or root canals at no extra cost throughout the year.
Prohibit Health Discrimination during Hiring
When hiring, you have the right to ask applicants about their health. However, you can’t use that information to decide whether or not they’ll be a good fit for your company. It is deplorable as, according to the Commonwealth Fund Biennial Health Insurance Survey, 42% of Americans have difficulty paying their bills or debt.
You might think asking questions about an applicant’s physical condition is a great way to determine if they’re healthy enough for the job. But plenty of people may have hidden health issues, like diabetes or high blood pressure, that wouldn’t affect their performance in this role. It’s also important to remember that some employees prefer not sharing this information with their employers.
Health discrimination during hiring happens when an employer bases their decision on an applicant’s current or past medical condition rather than their skills and experience for the position being filled.
If you’re interviewing someone who has been out of work due to cancer treatment, don’t automatically assume they cannot perform well in professional settings because they know how difficult it can be to deal with illness on both personal and professional levels.
Invest in Wellness Programs
Now that you know what health insurance is, how it works and why it’s essential to offer healthcare coverage to your employees, let’s talk about how you can make the most of your employee health insurance plan. According to a report, 52% of US companies offer employees wellness programs.
You’ve probably heard of wellness programs before. They’re one of the best ways for employers to reduce healthcare costs while improving productivity, employee engagement, and worker retention. They also help employees take better care of themselves by getting them involved in activities that will enhance their overall well-being, such as smoking cessation programs or classes on stress management.
Wellness programs also help build a sense of community among your team members. After all, no one wants to work with someone who feels like they’re constantly suffering from a cold or flu. Most importantly, though, wellness programs can be fun.
Renew Employee Medical Plans on Time
You could be fined and lose your insurance provider if you don’t. If this happens, finding a new insurance provider and getting everything set up for the following year will take time. It’s always best to ensure that you have everything taken care of early, so your employees don’t have any issues when they need their health coverage.
You should also ensure that if the rates go up for the following year (likely), your employees can afford it. You may want them to pay more out-of-pocket than last year or with their taxes if possible. Otherwise, they might lose their coverage altogether. A report suggests more than 100 million Americans are in medical debt.
Indulge in Consistent Medical Coverage Communication
One of the most important things you can do to ensure that your medical coverage is effective is to maintain consistent and timely communication with your employees. It means informing them about all relevant changes in their insurance, letting them know how those changes will affect them, and ensuring that there are no gaps in coverage.
You must also provide clear, concise information about what their insurance covers so that they don’t incur any unexpected expenses when seeking care. Your goal should be for them to understand what is covered under their plan and how much it costs before receiving treatment from a doctor or hospital.
You can inform your employees to use insurance reimbursement software to get help with filing a reimbursement claim. Insurance reimbursement apps help you keep track of your out-of-network medical expenses and ensure you receive the maximum amount reimbursed by your insurance.
Analyze the Insurance Provider’s Procedures
You need to check if the provider is legitimate. If a provider is not licensed, it may not be able to provide employee health coverage and medical services that comply with the law.
Also, you should check if they have a good track record of providing employee health coverage and medical services to other employers in your state or city. It will help you know whether they can meet your needs as well. If former clients have sued a provider for damages like fraud or malpractice, that’s another red flag.
Lastly, get in touch with past clients who’ve used them before so you can learn more about their reputation among people who’ve worked with them before or interacted with them directly during their work.
The first step to providing good health coverage is ensuring all employees are eligible. The next step is to ensure that they understand the terms and conditions of their benefits, so they know what they’re getting into. Finally, you need to ensure that your plan renews on time and that it’s up-to-date with current regulations, so there aren’t any surprises when it comes time for renewal!
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The purpose of Human Resources (HR) is to ensure our organization achieves success through our people. Without the right people in place—at all levels of the organization—we will never be able to execute our Strategy effectively.
This begs the question: Does your organization view HR as a support function or a strategic one? Research shows leading organizations leverage HR as a strategic function, one that both supports and drives the organization's Strategy. In fact, having strong HRM capabilities is a source of Competitive Advantage.
This has never been more true than right now in the Digital Age, as organizations must compete for specialized talent to drive forward their Digital Transformation Strategies. Beyond just hiring and selection, HR also plays the critical role in retaining talent—by keeping people engaged, motivated, and happy.
Learn about our Human Resource Management (HRM) Best Practice Frameworks here.
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About Shane AvronShane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.
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