Benefits are an important part of a compensation package and health care options can be a great incentive to employees, especially new hires. When choosing to offer health care coverage to your employees, there are a variety of factors to consider.
Firstly, consider an administrative person or someone to help monitor the day-to-day needs of offering health coverage to employees. This does not necessarily need to be a designated human resources manager; just someone who can keep track of the insurance policies, how they are offered to employees, and who is taking the coverage offered. The carrier from which you choose your health coverage will act as an administrator of sorts, but it is helpful to have someone within your company designated to keep track of the administration of the plans.
Once you have selected the types of coverage to offer to your employees and have an administrator assigned to maintain the plan, the next thing to consider is how to inform your employees of their options. A common response of employees is that they think they “don’t need coverage” or “it is too expensive.” Often this can come from a lack of knowledge of their options and just how affordable the benefits can be. Consider having a representative from the insurance company you selected send over a comprehensive guide of benefits that you can present to your employees. This is where an administrative person would be of assistance because they would have some basic knowledge of the plans (or at least know who to contact for answers to those questions). Letting the employees know what benefits they would be receiving, as well as the cost, goes a long way in helping them make an informed decision.
Another great resource to consider when offering health coverage is an insurance broker to help monitor the administration of the policies. Brokers are licensed insurance professionals who can help you choose the best health care options for you and your employees, as well as to navigate the complicated world of health insurance. Brokers can also come and speak to the employees to inform them of all the ins and outs of their options. This is a fantastic resource because the broker would meet the employees and answer any of their questions directly. Also, the broker would be assigned to your company and employees to answer any questions throughout the year, not just at implementation. This process would also apply to new hires. Informing new hires of their benefits package is a great way to set your company apart from other job options they may be considering.
In conclusion, the best practice for offering health care is making sure the employees are informed on all of their options and the cost to them. ARC Benefit Solutions is here to help. From finding a health plan that suits the needs of your business, to helping educate and inform your employees of their options and how health insurance works, your licensed representative is here for you. Contact us today to get started.