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How to decrease the cost of your employee health benefits

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As companies begin to deal with a variety of health issues plaguing employees and the rising costs of health insurance also cause by a variety of issues, companies have begun looking to decrease the cost of their employee health benefits.In the search to find the best method for reducing the cost of employee health benefits, companies have a variety of options that have functioned for other companies.Here are a few ways a company could lower the cost of their employee health benefits.

Tailored Health Plans

Some companies, especially small businesses, may find that rising health insurance costs make it impossible to offer insurance to employees.Companies, both large and small, may consider using tailored health plans.By identifying the needs of the employees in the company, a health plan that meets the majority of the needs of the employees can be drafted.Because the plan will not cover every possible thing under the sun, it will cost the company less overall.This will benefit both the employee and the employer because the employees will still get the coverage they need the most, and the employer will pay a lower cost for the health benefits.

Employee Wellness

One method that has helped companies keep insurance costs from rising rapidly is to create an employee wellness program.These programs help address the overall health of employees.Wellness programs deal with the physical and emotional health of employees through an emphasis on exercise, eating healthy, handling stress, and many other aspects of health.The best part about a wellness program is that it can be tailored to meet the needs of any size company.Larger companies may hire a wellness specialist to work full-time with employees, while small companies may simply consult a wellness specialist for ideas on how to boost employee wellness.Wellness program will help lower heath insurance costs by helping employees to be healthier.Healthier employees draw on health insurance benefits much less.

No Smoking Please

Another way companies are lowering the cost of their health benefits is by creating a smoke free environment at work.Some companies are even going as far as saying their employees must quit smoking entirely.The reason is that insuring an employee that smokes is much more expensive than employing a nonsmoker.In some states it is legal to fire an employee for being a smoker, and some companies have taken that step in order to lower their insurance costs.Other companies have encouraged employees to quit by offering smoking cessation classes or by providing nicotine gum or patches to employees.No matter how a company goes about creating a smoke free working environment, they must in order to keep a handle on rising insurance costs.

As health insurance companies continue to raise the price of group health insurance, companies have been forced to take steps to keep their insurance costs low.Some have changed the type of coverage they offer by switching to a tailored health plan.Other companies have created an employee wellness program to help encourage their employees to be healthier.Companies have also attempted to lower costs by encouraging employees that smoke to quit.Companies that wish to keep a handle on raising insurance costs or that wish to lower their insurance costs may consider using these ideas to achieve their goal.

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