Top 5 Qualities to Look For In Health Related Plans For Your Employees
You want to provide your employees with a reasonable range of benefits. That includes different plans that make it easier for them to take care of their health. From HSA accounts to the best in group health insurance, it pays to put some effort into the plans you select. Here are some qualities that the ideal plans will possess.
With group health insurance plans and even health savings plans, you want to have an idea of what sort of annual limits apply to different forms of treatment. Some plans will have limits on a per instance basis. Others will have a limit for all services related to a specific health issue that applies to the entire year. You want to know in advance how the limits are set and what those limits happen to be. That will make it easier to compare the plan with other options and see which one provides the best coverage for your employees.
Scope of Coverage
Along with limits, you also want to know what sort of health issues are covered. You may be surprised to learn that many group health insurance plans do not provide coverage for dental or eye care; those have to be purchased outside the scope of the basic policy. You may find that setting up HSA accounts for your employees helps to provide coverage for alternative health services like acupuncture or chiropractic treatments. Some of those health savings plans may also provide support for things like basic dental care and annual eye exams.
Co-Pays and Deductibles
The limits and scope of coverage is great, but how are the deductibles and co-pays? These will tell you how much your employees have to pay out of pocket before the benefits in the plans begin to kick in. There may be a co-pay for medications while there’s a deductible that must be met if an employee goes to the emergency room. Check the provisions of any HSA accounts and group health insurance plans that you are considering and see how low you can get those co-pays and deductibles.
Cost Per Employee
Do you plan on sharing the cost of offering HSA accounts and group health insurance plans with your employees? While some employers cover all of the monthly premiums and other fees, some choose to split the cost, with the company paying the larger share of each premium. Look closely at how to balance the total expense so your employees pay as little for the coverage as possible. That will be one more way you demonstrate that they are important to the business.
Acceptance By Medical Practices
Does a large percentage of local doctors, dentists, and specialists accept the plans you are considering? How about the local hospitals, rehabilitation clinics, and providers offering outpatient care?
Unless the HSA accounts and group health insurance plans are readily accepted in the local community, your employees may have to pay for services up front, file their own claims, and then wait to be reimbursed. A better approach is to select plans that are readily accepted by all the local health care facilities. Doing so means one less hurdle your employees have to make in order to receive the care they need.
Remember to look deeply into the terms and conditions related to all plans that you are considering. Try to come up with scenarios in which the coverage would be used and ask how it would play out. If you like the way the plans work and they will be good for your employees, the search is over.