Today, the world is consumed by the word ‘Competition’ &
the market has become a ticking bomb. Correct timing & a right plan of
action is what companies need to win the battle. In order to master these two
factors, companies require an army of brilliant employees to support their
cause. It’s not easy but companies are willing to shell out a handsome sum of
money to hire the best from the crowd. Sadly, that’s not enough. Employees
today demand a healthy lifestyle which requires a lot more than a six-figure
salary. Benefits such as health insurance have become a highlight of their list
of demands. And why wouldn’t be?
Healthcare costs in the US are at an all-time high. As per a survey done in 2017, the average healthcare cost of a
person per year is $10,739 & it is expected to rise by 3.9% by 2020. Thinking
about the future, employees tend to work for companies that offer the best
package (good salary + healthcare benefits). But there is one major problem.
Not many companies offer a healthcare plan to their employees. In the
employers’ defence, a healthcare plan puts pressure on the company’s finances
which in turn adds to their losses. No sound employer would like that, isn’t
it? Luckily, the government has come to the rescue of the employees.
On March 23rd, 2010 Mr.
Barak Obama ushered the Affordable Care Act into the limelight which directed
companies (having more than 50 full-time employees) to offer enhanced
healthcare benefits plan to 95% their employees. If any company dared to go
against it, a hefty fine of $3750
(per employee per year) will be added to its list of
expenses. This was a revolutionary move which adds another challenge in the
book of the employer-employee relationship. But there is a twist in it. Though
this act is a huge win for the employees, it is not a total nightmare for the
employers. Fortunately, there is a list
of requirements that both parties have to fulfil
according to which a healthcare plan can become a topic for discussion. It’s smart & convenient for both parties.
How can an employer provide an enhanced healthcare benefits plan & be happy about it?
After Affordable Care
Act hovering over their head and a constant demand for healthcare plan by the
employees, employers have no option but to offer an enhanced healthcare
benefits plan & act happy about it. But how can they do that? Luckily,
there is an easy way out for the employers.
1.
Choose
a reasonable healthcare provider- It is pretty clear that
companies have to take a look at its budget while offering healthcare benefits
to their employees. There is no denying that but no one said that it is
mandatory for an employer to choose the most expensive provider in the market.
If you have the budget for it then be my guest. If not, choose a healthcare
provider that won’t hurt your wallet and will cover all essential benefits that
will make an employee happy.
2.
A
doctor’s clinic has the potential as well- Today, many
companies have steered their wagon towards the doctor’s clinic. It’s cheap and
clinically effective.
3.
Let
the employee do the talking- Every employee follows a
unique healthcare routine & will require a different set of healthcare
benefits according to his/her requirement. If both parties want to stay on the
same page, employers should allow their employees to personalize
their own healthcare policy. It will add a unique touch to
their relationship.
Health is wealth and
everyone is quite serious about it. If a healthcare plan helps a company to
attract and hire the best employees, then it is worth a shot. They will see the
benefit (productive hours) in the long run for sure.
