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Top 3 reasons why Paramedical services in employee benefits plan is a must have!

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.

Millennials and their Health Benefits

Millennials and their Health BenefitsBaby boomers may see health benefits in the workplace as a privilege, but their younger counter parts on the other hand see it as a right. A recent study shows a discrepancy in the way different generations think about these employee benefits.

Despite their entitled view on the matter, Gen Y workers would prefer to get a lump sum amount each year over the typical coverage methods. And true to their modern outlook, they also want greater flexibility in their health benefit plans. They want to be able to choose what is covered based on their needs. Baby boomers, having grown up in a different time, take a very different approach to these benefits. Because they see these services as a bonus and not a given, they are more likely to take it as is.

One thing they do agree on is the importance of health screenings. Statistics shows that most of them would participate in workplace health screening if their employers offer them. It is no surprise that they worry about monitoring their health for the major diseases such as heart disease, diabetes and cancer. But it is interesting to find that those numbers drop off when it comes to mental health screenings.

Employees also feel that insurance carriers should play a bigger role in keeping their workplace healthy. But since most carriers already provide a plethora of information and services, the issue may be in the awareness of these offerings.

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