What your employees want in their health insurance policy?
Posted On April 28, 2019
Looking to build a healthier workforce? Your group health insurance policy is the place to begin.
Providing benefits to your employees is a great way to retain and expand your talent pool. Apart from a regular paycheck and a good working environment, providing great health benefits is a key contributor to employee satisfaction. As per DHA, companies in Dubai and Abu Dhabi must provide medical insurance coverage to all their employees. As the HR professional for your organization, it becomes imperative for you to know about the kind of benefits your employees are looking for in their health insurance policy. Having worked with over 1,000 companies based in the UAE, we have narrowed down the benefits that most employees want from their company health insurance plan.
Wider network coverage: Different employees have different benefit needs and catering to everyone’s specific needs can be challenging. Choosing a health insurance plan with a wider network coverage means that the employees can take advantage of direct billing at more hospitals and clinics. The cost of your medical insurance varies based on the network, wherein the cost of the policy with a premium network can be twice as much as the cost of the same policy with a regular network. However, it is also important to note that a wider network coverage enables your employees to stay within the network which eventually keeps your claims down.
Deductibles, co-insurance and co-pay: The fixed cost that the employees must pay when they obtain covered healthcare is called a deductible. Having reasonable deductibles makes it easier for the employees to obtain treatment as the upfront costs are lower. High deductibles make it challenging for the employees to obtain necessary care which is usually unplanned. Co-insurance is the fixed percentage that the employee must pay after the treatment has been received. Choosing a group health insurance plan with reasonable co-insurance and deductibles is key towards pleasing your employees.One of the most desirable specialty coverage’s are dental and optical insurance.
Plan exclusions: Health insurance policies generally come with a long list of exclusions in the form of specific treatments, waiting periods and more. No health insurance plan is completely free of exclusions, but an overly restrictive policy tends to frustrate the employees. Some common exclusions like pre-existing conditions and cosmetic treatments won’t negatively impact how the employees view their policy, however a longer exclusion list can irritate the employees.
Specialty coverage: It has been proven time and again that healthier employees make a healthier workplace and are eventually more productive. Health and wellness do not end at the basic medical needs as employees generally seek coverage beyond the standard medical community. One of the most desirable specialty coverage’s are dental and optical insurance. Including these in your group health insurance policy can help improve the morale of your employees.
Wellness programs: Providing your employees with basic health insurance coverage is not enough. You can go one step further by conducting wellness programs within the office and providing low-cost preventative care. This is a great way to encourage employees to regularly monitor their health and get frequent check-ups. Wellness programs motivate your employees to lead a healthy lifestyle which in returns promotes the overall health at your workplace.
The rising cost of healthcare should not be a hurdle towards providing quality healthcare services to
your employees. Having the most desirable health insurance in place can not only help you retain and
attract talent, but also build a healthier and more efficient workforce.