Small businesses need every advantage they can get when competing with larger companies for top talent. One of the best ways they can do this is by offering a competitive, comprehensive benefits package to their employees. Studies show healthcare benefits play a large role in people’s employment choices and can lead to reduced turnover and increased job satisfaction.
When building your benefits package with SummaCare, you are working with a company that takes a personalized approach to cost containment through preventive healthcare, disease prevention and condition management.
Here are 5 tips to help you when creating your company’s benefits package:
- Offer both exclusive and wide provider networks. To give consumers better value, many insurers offer plans that are less expensive and tailored to the number of providers and facilities a person can go to for covered services. Conversely, plans with broader networks cost more, but they feature more providers, specialists and facilities and are usually spread out across a wider geographic range. If possible, offer both options and let employees choose what’s right for them.
- Offer ancillary services like dental and vision coverage and life insurance. Purchasing these benefits at a group level helps keep premiums reasonably priced. Costs can be split between the employer and employee or covered wholly by one or the other.?Utilizing consumer-directed Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA) and Flexible Spending Accounts (FSA) offer employees more control over their healthcare costs as well as tax savings on money allocated for medical expenses.
- Offer wellness benefits at no added cost. SummaCare offers access to a variety of health and wellness tools (like health coaching, condition management, behavioral health services, smoking cessation and Teladoc?, to name a few) to navigate life’s ups and downs and help people learn coping strategies.
- Look for a company that offers local sales and customer support. Headquartered in Akron, Ohio, SummaCare’s broker partners, sales reps and member services teams all live and work in the same communities you do and are available to answer questions about any of our products and services.
- Offer both high deductible and low deductible plans to meet the individual needs and wants of your employees. Not every plan should be one size fits all. People who are healthy may gravitate towards a plan completely different than someone with an underlying health condition. When shopping around for group coverage, look for an insurance provider that offers a variety of plans with different features and price points when it comes to copays, coinsurance, deductibles, out-of-pocket maximums and prescription drug plans.
Contact your broker today and ask them to include SummaCare on your next quote.
Matt Baker, Director of Commercial Sales
