Skip to Content

What you and your employees need to know if you're paying their health insurance

30 June 2020 - 2:54pm

Health insurance is one of the greatest benefits an employer can present to its employees. In fact, recent data collected by Sidekicker, in partnership with Seek, found that health insurance was one of the top 10 benefits that were labelled as most appealing to employees in Australia.

But the success of any benefits program is highly dependent upon the promotion and communication of said benefits; if employees are unaware or don't understand what they can get out of their health insurance, they likely will not participate. Providing your employees with ample information can ensure everyone is aligned and all expectations are met and well received.

To ensure you and your employees feel confident about the investment, here are four questions to ask yourself as you continue to promote health insurance:

1. Do you have an effective communication strategy?

Before expecting your employees to sign up for a health insurance plan, you need to make sure they understand what they're getting themselves into. That involves laying down a strong foundation for communication.

The answer and solution: If "yes," it's time to provide them with adequate health insurance information and ask for questions and concerns before signing up.

If "no," it's imperative to reassess your current communication strategy. Sprout Social recommended sitting down with your employees to discuss what kind of resources and efforts are needed from your end to improve communications across the board. An improved communication strategy can help employees feel more engaged and satisfied in the workplace, and can help them feel more comfortable asking questions that could arise when new details regarding offered benefits - such as health insurance - come to the table.

2. Are the benefits easily understood?

When it comes to health insurance, many employees can agree that there may be a fine line between understanding what the plan entails and consuming health care jargon as it comes just because you, the employer, have given them the green light. Terminology can be rather perplexing, especially for employees who are entirely new to the world of health insurance and have always been on their parents' plans. Words and phrases like rebates, levies, loadings, item numbers and insurance providers may seem very confusing at first, making it difficult for employees to grasp the concept around health insurance and how it can be highly beneficial for them.

The answer and solution: If employees have a strong grasp on the details of the health insurance plans that are offered through your company, make sure they feel comfortable with the number of resources they have available to them.

If employees are still having trouble understanding the benefits, it's your responsibility to make an effort to provide them with necessary information on a regular basis. Meeting with employees regularly to go over their benefits, for example, ensures a strong line of communication and enables them to open up with any questions or concerns they may have before signing up for a plan or renewing an existing cover.

3. Is information easily accessible?

Employees may also feel uncertain or uncomfortable about signing up for a health insurance plan when the information is only presented to them once.

The answer and solution: If "yes," make sure your employees feel comfortable navigating such information on their own.

Employees interested in pursuing a health insurance plan may want more information than you can provide during an annual meeting. Having valuable resources readily available for employees can help them make informed decisions regarding their benefits whenever they see fit. While enrolment terms may start at a certain time of the year, employees can still find peace of mind preparing themselves in advance with resources that can educate them about the plan they're pursuing.

4. Do you have expert support?

You, as the employer, may be well-versed around your own corporate health insurance plan, but there's knowledge you may be lacking in regard to that certain option - and there are other options available to your employees that you may have little to no education about.

The answer and solution: If "yes," make sure your employees are aware of these said experts and know how to reach out to them with questions and concerns.

If your existing strategy is to provide employees with information that you've gathered on your own, it's important to reevaluate your options and connect with your providers - many health insurance carriers make themselves readily available to your business for employees who are interested in signing up. By developing strong business partnerships with health insurance providers, you can maintain relationships with the experts in the industry who have a plethora of knowledge and information to share regarding their insurance policies.

Why it's important to establish a corporate health insurance plan

Health insurance is one of the most valuable benefits, yet it's often noted as the least understood. To ensure your employees feel comfortable investing in your health insurance offering, make sure to schedule and maintain regular employee briefings, provide web-based information tools and ensure access to experts who are readily available for questions and concerns. Providing such resolutions can maximise your employer's ROI, improve employee wellbeing and ensure strong and long-lasting recruitment and retention strategies.

As experts in private health insurance who provide optimal, seamless service, HICA has over 35 years of experience to equip your employer with a corporate health insurance plan that keeps the health and well-being of your employees in mind. With access to a large selection of corporate health insurance models, employers and employees alike across Australia can feel confident in finding a package that suits their wants and needs from a personal and corporate perspective. And, one of our greatest benefits: All insurance plans provided by HICA are supported by a strong team of professionals who can be reached via phone call or email with questions or concerns when the need arises.

Learn more about our different corporate health insurance options and receive a free, no-obligation consultation to find the right choice for you.