If you and, more importantly, your employees thought health insurance was hard to understand a decade ago then you (and they) are probably in a world of trouble when trying to understand today’s terms, costs, and procedures.
Not only is the complexity of health care plans increasing, but many consumers are also seeing greater out-of-pocket costs in the form of higher deductibles and more responsibility for paying a portion of their premiums. As a result, it’s never been more important for consumers to understand their benefit options and be able to make informed decisions for their families.
In today’s world of consumer driven health care, here are 4 things employers and advisers should be taking into account.
- Customer feedback – There’s often a disconnect between what employees really want and what HR representatives and administrators think they want. Focus groups and other ongoing conversations are a great way to get to the heart of the matter.
- Financial ramifications – Employees need to understand how the different plan options, such as HSAs and FSAs, work and how they affect their bottom line. Only when they understand the actual cost of their health care can they begin to start making decisions that are best for their health and their wallet.
- Continued education – The talk about health care and benefits shouldn’t end after open enrollment. More and more employees are asking for ongoing resources, such as financial tools, personal support, access to a nurse hotline, etc.
- Customer service – An excellent customer experience is key to retention, and that’s no less true in the benefits world. Employees who receive unparalleled service from their employers and their benefit providers are more likely to stick around.
As health insurance continues to evolve and change, it’s more important than ever to make sure your employees are educated and self-motivated. Only then can they be confidently poised and ready to take command of their health care spending.