Voluntary benefits are often offered as an option by employers to their employees. This health coverage option exists at no cost to employers and is therefore often a no-brainer option to offer employees. We’re sharing everything you need to know about voluntary benefits in our guide.
The digital health world has seen massive growth over the last year. It’s important to understand what various virtual healthcare terms mean. eHealth, mHealth, telehealth, and telemedicine are used to describe the use of mobile and desktop technology for patient management. These terms are used interchangeably at times, however they each represent a different aspect of technology and healthcare.
Benefit plans serve as a great way to provide value to employees beyond their salary. Because benefits are becoming increasingly important, it’s important that you give your employees the option to tailor their benefits to their needs. At SBMA, we believe in meeting your employee’s medical needs with additional benefit options. We offer our clients the option to choose various voluntary/worksite, ancillary, and virtual health benefit options.
Sixty percent of employees rated benefits as a very important contributor to job satisfaction. With that many employees placing value on employee benefits, it’s important that you, as an employer, ensure your benefits are set up and attract and retain the best employees. According to Career Builder, only 49% of employees are satisfied with their current benefits, which means you have the opportunity to make your benefits even better to appeal to 51% of your employees!
Attracting and retaining the best employees is likely of the utmost importance to you and your business. There are many ways to show your employees you care. One of the most effective ways is through offering voluntary benefits as part of your health insurance plans.
Voluntary benefits, also known as worksite benefits, are an effective way to attract and retain the top employees with little to no effect on your bottom-line. These benefits are a great way to fill the void of coverage that traditional benefits don’t cover. What most employees and employers don’t realize is the effect that voluntary benefits offer to both parties.
Investing in health insurance for your employees is essential to ensuring a happy and healthy workforce. Navigating employee benefits that your employees actually want, can be a challenge. Not to mention the various requirements necessary for employers with 50 or more employees. So, why should you invest in health insurance for employees?
Under the Affordable Care Act, applicable large employers (ALE) are required to provide minimum essential coverage to 95% of their full-time or full-time equivalent employees. If you fail to do so, your company will be subject to various penalties that could cost you! If you do a cost-benefit analysis, investing in MEC for your employees can save you millions, while also increasing employee engagement.
Virtual Health Benefits Include Mental Health Services: Happy Holidays!
The holidays, as exciting as they are, can also be extremely taxing on your mental and emotional health. Let’s face it… family gatherings can be a difficult venture for anyone. It’s no wonder the holiday season is the hospital’s busiest time. In order to prevent major hospital-visit-inducing accidents, take time to prioritize your mental health.
Minimum essential coverage, also known as Obamacare, is designed to give coverage to those who need it most. However, there is quite a bit of confusion surrounding what minimum essential coverage actually covers for patients with this healthcare. MEC was designed to provide patients with 10 essential benefits. So what exactly are these essential health benefits?
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