Besides, there are some better solutions for this purpose. Let’s learn how to restrain the employee’s health care cost without the need to reduce or replace the workforce strength or even increase the financial burden on the workers via the increase co-pays. The suggestions below make sure the cash inflow is higher than the outflow, and the employers can curb the unwanted medical expense.
#1: Start a New Wellness Program
Starting a new wellness program or renovate the existing one makes the health care cost go down. Since the employees with better health rarely take sick leaves, it enhances the overall productivity. The new or revamped program should target the serious health issues like obesity, smoking, and blood pressure. Also, the regular health checkups are effective in preventing disease relapse that helps save much money.
#2: Encourage the Employees to be Conscious of the Wellness Program
If the employees are engaged in the health care plans, they will follow some healthy habits with responsibility. The employers should pay around 75% of the health care premiums for the employees who can successfully control the blood pressure or keep their health in check for a period, for instance. The physically good workers will be gifted with the dinner couples, electronic gadgets, free gym membership, etc.
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#3: Take Control of the Spousal Coverage
It’s beneficial to the employee to get the premium for his/her spouse as well as kids covered in the wellness program. Nonetheless, in most situations, the working spouses also receive the health care plans offered by their employers. In such instance, the employers should avoid the spousal coverage if the spouse has already had the health care program provided by the other companies. This helps reduce the unnecessary expense.
#4: Prefer Hiring the Non-smokers
Provided the discrimination against the smokers is not unlawful in your country, it’s advisable to hire the non-smokers. According to the Centers for Disease Control and Prevention (CDC), the government has to pay about USD$193 billion per year for the smokers’ health care expenses. Another option is to implement the additional fines on the smokers in order to balance their premiums.
#5: Increase the Consciousness of Medical Emergencies
As the health care bills are going to explore and hard to afford, the employers have to spread the awareness about the medical emergencies to the whole company staffs. Please know that the average rent for a single Emergency Room is more than USD$2,000 added with many health care services, which result in the very high health care costs! In that sense, what the employer can do is pointing out that various clinics, pharmacies, and medical institutions offer the great facilities and hotlines for emergency care at the more affordable fees. So, they are the better solution than the Emergency Room in case of a minor headache.
Inflation is impossible to stop immediately, but some certain solutions can be carried out. These are the five realistic ways that help the employer curb the inessential health care expenses.