Qualifying businesses transitioning to a self funding health plan have a lot to gain, especially when it comes to potential cost savings, access to data, and flexibility of physician networks.
However, it is important to note that this transition involves tasks that may require a shift from how the business has traditionally managed their group health benefits. These adjustments pose challenges to businesses, especially ones who have never made an adjustment like this before.
Ways To Keep Employees Engaged
Employee dissatisfaction, unproductive work environments, and potential for errors are just a few examples of how a lack of employee engagement can negatively impact a business. As a high level of employee engagement is necessary for a successful transition to a self funded health plan, business leaders and organizations will need to properly address and solve these challenges from the onset of the transition. Listed below are some innovative ideas and incentives that can combat lack of employee engagement during this process .
As simple as it sounds, the most successful way an organization can engage their employees in a health plan switch is to create a culture that is straightforward and explicit. Many employees may be hesitant to make the transition at first because they don’t understand what will change for them.
It is because of this lack of knowledge in a time of change that employees feel their new plan will create more undesired work to receive their benefits which in turn, decreases their engagement.
Being clear and transparent with employees is key in ensuring that they feel comfortable to share whatever questions or concerns they have with their employer and understand what’s to come in their transition to a self-funded plan. Incorporating these ideas into the process of shifting healthcare plans is significant in keeping engagement levels high with employees.
Provide Educational Resources:
One way to keep employees engaged is to ensure that they are properly educated. Helping employees understand why a new plan is good for them is a vital way to keep their engagement high when changes begin to occur.
For example, the first stages of a move might feel overwhelming because of additional choices they need to consider such as having more than one healthcare contact. In this case as with many, it is better to over educate than under educate and encourage employee participation. Surveying employees and understanding your workforce are great ways to have employees participate, find what matters to them, and make them feel important.
Tools such as push notification messaging through a company webportal, custom flyers on potential wellness and cost benefits, and access to information on their health benefits through smartphone applications are all effective methods in getting members on board and educated. Using tools such as these are just a few ways a work environment can excel in providing available information to employees during their transition to a self-funded plan.
Engagement Through Plan Incentives:
Illustrating the flexibility and cost savings a self-funded plan can offer is a significant way to help incentivize employee enthusiasm and engagement. With new benefits including customized health-care plans based on individual needs as well as more control over health care costs, employees can quickly engage themselves in the transition by understanding the positive factors that arise from it.
The first steps in switching to a self funded healthcare plan may include stressful environments for employees due to possible abrupt changes and uncertainties. That is why implementing a wellness plan is a great way to maintain employee engagement throughout the transition.
Whether it be fitness activities, community service activities, or health and nutrition programs, getting to know your employees by understanding what programs would be most useful and appealing to them is important in making sure they stay engaged.
Improvement in employee health behaviors, decreased absenteeism, and increased work productivity are all certain benefits employers can expect to see by creating wellness programs like these at their company.
Talk With New City About Self Funding Plans
When choosing the right insurance plan for your business it is critical to keep all your employees in mind. A self-funded can bring many benefits, but if these are not communicated to your employees, the switch could be met with hesitation. To learn more about self funding and the ways it could make a difference in your company speak with the experiences benefits consulting firm at New City Insurance.