Employee healthcare benefits are no longer “nice to have”. In a post-COVID world, they have become a must have for jobseekers. That means as a HR, you need to treat these benefits as high priority. Whether you are a small start-up or a Fortune 500 company, employee healthcare benefits have become part of the “new normal”.
Getting these benefits though, isn’t an easy process. If you are a small business, you will find that employee healthcare benefits can be expensive and difficult to manage. That doesn’t mean it is impossible though. With companies like Onsurity, you can get economical and easy to manage employee healthcare plans for your entire team.
The Need for Employee Healthcare Benefits
The millennial generation and Gen Z make up a large percentage of the modern workforce. They also represent a large percentage of lifestyle diseases like diabetes, asthma, heart conditions and obesity. They also represent a huge majority of those suffering from mental health issues. Yet, they are also the least likely to get the right medical treatment.
According to Lets Get Checked, 65% of people try to self-diagnose online. A vast majority of whom are millennials or Gen Z. There’s a huge reason why: they simply cannot afford medical care. Insurance premiums have increased 288% in the decade between 1998 and 2018. With medical inflation on the rise, employees simply do not have the means to pay for their care.
As a HR, that means you need to step in and provide employee healthcare benefits. It has benefits for you as a company. A Mercer Marsh benefits survey found that 26% of respondents would be more likely to stay with an employer that offered digital employee healthcare solutions.
Not only is it great for retention, but also for productivity. Healthy employees are more likely to contribute meaningfully to the team and boost productivity. If that’s not enough, you should know employee healthcare has a financial impact as well. Research platform LabGov found that “the loss brought by an unhealthy employee is roughly $30,600 per year.”
The Right Benefits
It’s not enough to simply offer employee healthcare benefits. You need to be offering the right ones. In a pre-COVID world, gym memberships were a pretty common perk. In 2021, not many people will find that useful or exciting. If you want to attract and retain the best talent, you need to offer benefits apt for the current situation.
What are the right employee healthcare benefits? Here are a few common ones that must be part of your employee healthcare benefits plans for 2021 and beyond:
Teleconsultations: Going to a hospital is now a major risk. That’s why you should offer employees the ability to virtually consult specialists. Not only does it keep them safe, but it also means employees can quickly and cheaply have all their issues addressed, no matter how small. That will help avoid self-diagnosis.
Health Check-ups: Regular health check-ups will ensure that employees are able to quickly identify issues before they become major health concerns. Early identification and treatment can help avoid issues like diabetes, obesity and heart conditions before they become lifelong struggles.
Medicine Delivery: Whether your employees are on a regular prescription or just need medication for a few days, there’s no better way to say “we care” as a company than providing access to epharmacies. Not only is this a safer alternative, but it is also much more cost-effective. That’s something millennial and Gen Z workers will be grateful for.
Fitness Tracking: Wearable tech has quickly grown to become a very important industry. Whether your employees are athletes or just concerned about their heath, fitness tracking is a great healthcare benefit to have. It promotes a healthier and more active lifestyle, and can actually help combat lifestyle diseases. If you can’t give your employees a wearable, ensure that they have some way to track their movement.
Health Insurance: A comprehensive health insurance plan will help assure your team that you have their backs should the worst happen. Get a good group health insurance plan with the widest possible coverage and lowest fees.
If you are a large business, it might be easy to find one or two partners who provide all these great benefits, and more. As an SME or startup though, there’s not much of a choice. That’s why Onsurity was founded. Onsurity provides economical and flexible employee healthcare benefits plans to startups and SMEs.
Onsurity’s business health plans give your team benefits like discounted doctor teleconsultations, discounted health check-ups and medicine delivery, fitness tracking and a comprehensive health insurance plan with COVID-19 cover. That way, your team’s healthcare is front and centre. Just the way it should be.