Renewing the insurance included in your employees’ benefits package is important and should be carefully considered. It allows you to keep it updated and as valuable as possible for your employees. You need to know what other options are available to you so that you can provide your employees with the quality of insurance they deserve.
The following are the 6 questions you need to ask before renewing your employees’ insurance policy.
1. What Is the Digital Experience?
In today’s fast-paced world, everything is easily accessed on the internet, except for health insurance. The majority of employees would much rather complete their paperwork and access their insurance information online. Most insurance companies are still in the stone age when it comes to using advanced technology. If you really want to provide your employees with what they want, talk to your insurance broker about making their policies digitally accessible.
2. What Percentage of Your Benefits Package Is Providing Value to Your Employees?
Your insurance company needs to understand the needs of your employees. You want to make sure that your employees can actually use it and benefit from it when they need it. This demographic usually includes individuals at high risk for certain diseases or who are already dealing with some form of chronic illness. This is where knowing what your employees need is extremely important.
3. How Can You Create a Plan That Is Flexible for Employees of All Age Groups?
When trying to figure out what type of insurance to provide for your employees, it’s important to get their input. Ask them what they are interested in the most. Most would prefer being able to choose the benefits they receive. Reducing the amount that your employees pay out of pocket is also important. One way to do this is to reduce their coverage, but in return, open a Health Savings account for them. This will cover many of the things that your normal health insurance will not.
4. How Can You Include Preventative Health in Your Plan?
Many of the most serious chronic illnesses are actually preventable. Living a healthier lifestyle is one of the best ways to prevent serious, long-term illness. For most employees, good health involves every facet of who they are, physically, mentally, emotionally, socially, and financially. Stress management, fitness reimbursement, and massage therapy are just a few of the things many employees would gladly accept as part of their health insurance and benefits package.
5. Are Onboarding and Communication Too Much to Expect?
As an employer, your HR department will spend time helping employees find the insurance package that works best for them. You need to know if your insurance broker will be available if your employees have questions. Can they be onsite when your employees come in to sign up? Providing much-needed customer support is essential.
6. Will Your Insurer Help You Set up the Benefits Package?
In order to provide your employees with the best possible options, you want to find a broker that is willing to be an active partner in the process. They need to take the time to understand what their employees want and make their needs a priority. The process takes time and should be started long before it is time to sign up.
When you are ready to start the health insurance renewal process, look to the professionals who have spent years helping employers protect their employees. At 01 Insurance, our reputable agents are available to help you evaluate your employees’ needs to find a solution that works for everyone. Call and talk to a broker today!