Is Health Insurance Still Considered a Benefit?

Now that health insurance is mandated by law, is it still a benefit? Back 'in the old days' health insurance was a benefit used as an extra to attract applicants for jobs and to retain employees. The consensus was if you offered a good plan, you would get better people. As medical costs skyrocketed, the consensus became the truth.

However, if you are one of the companies mandated to offer health benefits to your employees, and people are required to have a form of health insurance, can you honestly list your health plan as a benefit? After all, many people expect to be offered health insurance.

The answer is yes, a health plan is still a benefit, however it isn't the perk like it used to be. So, consider adding benefits to your health plan if you want it to be meaningful to your team.

Why You Should Bolster Your Health Insurance
You need to bolster your health insurance plan because you want to attract people to your company and you want to keep employees. You could do this in two ways:

• Offer a comprehensive health plan that comes at little to low cost your employee. This is a costly option for many companies, but it would definitely make your health plan stand out. Many companies find they can attract top talent with this strategy. If you would like to discuss your options, please contact us.
• Consider bolstering your health plan with some benefits that encourage a healthy lifestyle. This is more cost effective and simple to implement.

Ideas To Make Your Health Plan More Attractive
Buying a Cadillac health plan is out of the realm for most companies. However, it is possible to offer your employees benefits to encourage a healthier lifestyle.

• Extend lunch breaks so people can eat and go for a walk or to a local gym. If you have an extra room or space in your building, convert it to an area where they can exercise.
• Bring in a nutritionist to discuss good eating habits, and how to prepare healthy meals on a budget.
• Ask your insurance program if they have an outreach program for customers.

If you can't offer benefits like these, then try offering other benefits that employees might enjoy:

• Arrange discounted memberships at a local gym
• Set up informal get together after work.
• Offer catered meals for special occasions or on designated days (such as every fourth Thursday).

Also, employees often come up with their own spontaneous fun activities. For example, one company's employees started hour-long gaming matches for an hour or so after work, this allowed them to avoid traffic. Another company's employees started Nerf football games in the parking lot after work. If it rained, they moved it into the warehouse.

When your employees begin something like this, don't stifle it. These are the kinds of fun activities they'll remember the most about working at your company.

Innovative ideas will not only help your recruiting and retention, but it will improve your employee engagement.

Culture Insurance is based in San Diego and specializes in commercial insurance and risk management. However, we aren't only about insurance. We want to help your company grow and thrive in today's marketplace. If you have any questions or would like us to review your insurance plan, feel free to contact us.