Ways to reduce health care costs for your employees
It’s no secret that everyone’s income is being squeezed. With living costs rising - particularly from energy bills - it can seem like an impossible task to keep those expenses in check.
With things this tight, an unexpected minor health complaint can strain a family’s resources disproportionally. A headache from eye strain, a tooth abscess, a strained back… treatment for these kinds can put unnecessary pressure on personal finances.
Employers need to know how to reduce their employee’s everyday expenses where they can - and fast!
In this article, we will explore the employee benefits solutions that reduce healthcare costs that can creep up on people unexpectedly - at an affordable cost
Everyday Health Cash Plan
The Everyday Health Cash Plan is a great way to reduce health care costs for your employees. This employee benefit offers them financial assistance in paying for everyday medical expenses like dental check-ups, opticians' fees, and more.
The key benefit of a health cash plan is that it allows employees to receive money towards their healthcare costs. For example, they can claim back the cost of prescriptions or physiotherapy appointments. This way, they don't have to worry about out-of-pocket expenses when their health needs attention.
Employees really feel the benefit financially, and will also appreciate the fact that their employer is making an effort to help them stay healthy and well looked after. This can help to improve retention, as staff recognise the financial benefit of remaining with a company that is contributing to their everyday healthcare expenses.
On top of this, introducing a cash back health plan can be beneficial for businesses too. Not only does it improve employee morale and motivation levels; but by providing this extra support, employers are helping to reduce staff absences due to illness or injury. This means teams can work more productively, which ultimately leads to greater efficiency in the workplace.
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Eye Care Vouchers
Eye care vouchers are an excellent way for employers to help reduce health costs for their employees. Eye care vouchers allow employees to redeem some of the cost of opticians appointments, tests and glasses from a large selection of retailers.
The advantages of providing eye care vouchers are numerous. For starters, it's a relatively inexpensive way to provide employees with access to necessary eye treatments. Plus, offering eye care vouchers shows that a business cares about its staff's wellbeing and is willing to invest in their health and safety.
Again, staff appreciate the money they can recoup, and this can lead to greater retention of the best talent over time.
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Reduce costs, retain talent
There are several ways to reduce these costs, such as providing coverage with employee health cash plans and offering eye care vouchers. Doing so will not only benefit your employees' wallets, but it can also have a positive effect on their overall health and wellbeing. Employers can act as a critical source of support for those struggling with the cost of living and in doing so can build staff loyalty that only brings benefits to the company as a whole.
