Supplemental insurance is a term that many employees may have heard of, but perhaps not fully grasped. As employers, integrating these additional coverages in workplace benefit packages can be a game-changer for both company and staff alike. Let’s explore why this is a move worth considering.
Empowering Employees With Choice
A one-size-fits-all approach seldom works, especially when it comes to matters as personal as health and wellbeing. By offering supplemental insurance benefits, employers can empower their staff with the ability to customize coverage according to individual needs. For example, some might benefit from extended dental care, while others might appreciate delivered meals and access to healthy foods via a benefit card. The autonomy to choose means employees feel more secure, valued, and understood.
Boosting Employee Retention and Attraction
Perks matter in today’s competitive job market. Offering supplemental insurance positions a company as one that cares deeply about its employees’ wellbeing. Prospective new hires take notice of such benefits when weighing job offers, and current employees will feel a deeper sense of loyalty to a company that looks out for their best interests.
Alleviating Productivity Concerns
When employees are stressed about personal matters, productivity can wane. Whether it’s an upcoming dental procedure or worries about accident coverage, these concerns can distract from work tasks. Offering supplemental coverage can alleviate these anxieties, allowing employees to focus on their roles without added stress.
Affordable and Diverse Options
One of the main attractions of supplemental insurance is the diverse range of options available. These options often come at a relatively low cost, considering the benefits they bring. Employers can tailor the choices based on their workforce’s demographics and needs, ensuring a perfect fit for the organization.
Streamlining Administrative Burdens
It might seem counterintuitive, but offering supplemental insurance can sometimes simplify administrative processes. Many providers package primary and supplemental insurance under one umbrella. This consolidation can streamline benefits administration, making life easier for HR departments.
Reducing Absenteeism and Enhancing Wellbeing
Absenteeism is a concern for many businesses. When employees frequently miss work, productivity drops, and additional pressure mounts on team members. Supplemental insurance can play a role in reducing absenteeism. By providing additional coverage for services such as mental health or specialized treatments, employees can address health concerns promptly, leading to fewer prolonged absences. What’s more, knowing that they are well-covered can boost overall employee wellbeing, leading to better engagement during working hours.
Promoting a Holistic Approach to Health
Modern employees are increasingly interested in holistic health approaches, understanding that wellbeing is more than just the absence of illness. Supplemental insurance can provide coverage for services that primary insurance might overlook, such as chiropractic treatments, acupuncture, or even wellness check-ups. By offering these options, companies emphasize a commitment to the total health of their employees, not just their basic medical needs. This progressive perspective can enhance job satisfaction and underline a company’s forward-thinking approach to employee welfare.
Supplemental insurance is all about going the extra mile for employees. By offering these additional benefits in the workplace, employers send a clear message: we value you, and we are here to support you beyond the basics.
This post was published on September 2, 2023 5:42 pm