From newly hired team members to seasoned employees nearing retirement, every employee will have unique healthcare needs for their stage of life. If you provide employees sufficient education on how they can intelligently navigate healthcare, not only will employees save money, but claims will be mitigated which effect the cost of the employer-sponsored benefit plan.
When it comes to a stage of life and the healthcare education provided for said stage, the largest gap that we see, and employers often attest to, is among retirement ready employees.
Staying on the employer-sponsored benefit plan is rarely in the best interest of a retirement ready employee or the employer. With age, employees typically see more claims and complicated health issues that will weigh heavily on the company’s benefit plan. Alternative health insurance could save an eligible employee nearing retirement some financial strain and equip them with the options they need for their wellbeing. In turn, the employer could be spared high dollar claims that would affect their plan premium.
Because of these truths, your retirement ready employees knowing and understanding all healthcare options available to them is in the best interest of both the employee and the employer.
Three Steps Employers Can Take to Help Retirement Ready Employees Make the Best Healthcare Decisions.
Step 1: Establish an effective communication method with your employees.
A reliable communication method will ensure proper delivery of and engagement with important company updates and healthcare information. Perhaps company email, desktop messaging, or traditional paper notes into office mailboxes has been your communication practice over the years. With the overwhelming use of email today, desktop messaging only being accessible during office hours and traditional paper methods being less than reliable and un-trackable, these outdated communication methods rarely prove effective.
We find the best and most effective avenue to reach employees with important communications is through a device that never leaves their person; smart phones. Consider investing in a customizable smart phone app that would deliver notifications and text messages right to your employees’ phones.
Unfortunately, because of its complicated and frustrating nature, insurance is seldom communicated about. Employees love education, but do not enjoy having to find information for themselves. Reach out to a strategic partner for employee healthcare education or gather educational resources yourself on:
- Preparing for retirement
- What questions to ask a financial advisor when preparing a retirement budget
- How to find the best retirement health insurance options
The Results of Proper Healthcare Education and Getting Employees Ready for Retirement.
Retirement ready employees choosing their best health insurance option is a big decision that takes time and is in the best interest of the employee and employer. With proper guidance and continued healthcare education, retirement ready employees will find themselves saving the most money and getting the best coverage for their individual healthcare needs. In turn, employers could mitigate or all-together avoid inheriting claims on the company benefits plan that will affect their population healthcare premiums in the future.
Actions for Retirement Ready Employees to Take Today to Save Money on the Most Common Healthcare Costs and Mitigate Future Claims.
1. Schedule an annual physical exam or wellness visit. This annual preventive visit is covered at 100% through health insurance and catches chronic, genetic, and other disease early on and keeps treatment costs at bay.
2. Get familiar and comfortable with telehealth services. Virtual doctor visits are a fraction of the cost of in-person visits and can be done from the comfort of your home using any technology device that supports a camera function.
3. Know the resources available for prescription cost savings. Walmart’s $4 drug list, GoodRx and Amazon Pharmacy are just a few that offer tremendous savings on otherwise costly medications.
Check out our series of employee healthcare education newsletters: The Nav Series
Forsite Benefits creates monthly employee healthcare education on relevant topics for all stages of life. We compile useful information into easy-to-read and understand articles, and deliver free content to our email subscribers each month.
As a Life Stage Support Counselor for Forsite Benefits & Wellness, Charles uses his health care expertise and ambition to help clients choose the best healthcare plan for their unique individual and family needs along with solving exhausting issues that naturally arise when navigating healthcare.