Top 3 reasons why Paramedical services in employee benefits plan is a must have!
1. Attracts prospective talents and helps retain current ones
Paramedical services are often described as a nice-to-have addition to employee benefits plans instead of must-haves. But more and more employees are seeing the importance of these services. Having Paramedical services in your group benefits not only will attract prospective talents to your First Nations organization but also will help retain your employees.
2. Increases employee morale and loyalty
Creating a Work-Life balance can be difficult for today`s workforce. With services like “Massage Therapy” employees can relieve tension and pain. Giving your employees access to Paramedical services can help them to lead to better health, such as to overcome stress and increase morale.
As a Plan Administrator, are you worried about the cost?
Generally, employees pay a certain portion of the cost. This amount usually reduces the longer employees stay with your Indigenous organization.
3. Costs can be controlled
Making paramedical services work for you and your employees relies on sustainability. In order to include Paramedical Services in your benefits plan, you need to manage the costs and have a budget.
Unfortunately, runaway expenses can quickly derail your plan. Managing and monitoring plan benefits usage is crucial to identifying patterns, which can be used to modify the offerings for future sustainability.
In addition, adding minor restrictions to the plan can also help mitigate bloated costs. Enforcing a per-visit or per-practitioner limit is a good idea, but can still be expensive if the plan members have large families. Many companies have adopted this option instead of a family maximum, which encourages employees to be more responsible for their usage.
Another option for cost control can be to implement a tiered-based coverage based on tenure.
Offering paramedical services to your workforce is a great way to keep them healthy and happy, but being cognizant of the accompanying costs is also extremely important. Finding a balance between employee morale and the costs is the bottom line to the successful employee benefits plan.