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Innovative Ideas And Incentives For Maintaining Employee Engagement During The Transition To Self Funding

July 8, 2021, by New City Insurance

colleagues discussing a startup idea of Self FundingQualifying 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 .

Create Transparency:

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.

 finance report statistic businesswomen office concept about Self FundingIt 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 web portal, 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.

colleagues discussing a startup idea for Self FundingWhether 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.

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Filed Under: HR,  Self Funding

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New City Insurance
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Carol Zhang
Carol Zhang
04:29 06 Mar 22
As a rapidly expanding national media organization, the employee benefits strategy and administration that New City has provided us during our growth has been invaluable. They have been proactive about informing us of the different benefit strategies available to us as we grow as well as managing the additional compliance laws and reporting requirements at each stage of our growth.
Claudia Villalobos
Claudia Villalobos
20:14 03 Mar 22
New City Insurance made navigating through all the health insurances super EASY. Their documents are highly informative, professional, and easy to work with. Thank you for making the process of choosing a health plan so simple. You guys are THE BEST!
Philippe Salas
Philippe Salas
17:02 22 Feb 22
I never expected to have a good time talking to an insurance salesman, but let me tell you Brendan was quite the treat. He was very helpful explaining the options and has a wonderful sense of humor. I hope to speak with him every time I call.
Jennifer Polito
Jennifer Polito
17:15 09 Feb 22
Super easy enrollment process. Fast and friendly customer service. If you are looking for an insurance company that is there for you every step of the way I highly recommend New City Insurance.
Rocky Salas
Rocky Salas
23:46 07 Jan 22
So friendly, I hope to speak to him again in all my future insurance needs.
Rocky Salas
Rocky Salas
23:38 07 Jan 22
So friendly and soft spoken. I hope to speak to him again in all my future insurance needs.
Jose Brena
Jose Brena
13:20 06 Jan 22
Eric Calciano has been extremely helpful in finding and selecting the right insurance coverage for our company. With many options out there Eric assisted us on getting a low cost provider saving more than 20% than from our competitors and providing excellent coverage for our employees.
Anastasia Beaverhousen
Anastasia Beaverhousen
17:05 28 Dec 21
Signing up for insurance was quick and easy. Felicity Sundsboe
SFCC
SFCC
22:08 29 Nov 21
Jeff Stoltey and his team provide excellent customer service. Jeff has always provided my company SFCC with straightforward options. I went to a larger insurance company only to RUN BACK to Jeff at New City Insurance. I recommend them to anyone needing insurance without hesitation.
Kevin Luby
Kevin Luby
19:13 22 Oct 21
Quick, easy & informative. We were able to secure quality insurance for our small business on a tight deadline. Thanks for the help New City.
Theresa Ruybol
Theresa Ruybol
19:30 01 Jul 21
Eric was so great with us. He was very patient and kind as we are a newer smaller organization who is growing rapidly. With that said, we had made our inquiry, he had great rapid response and mostly had to wait on me. Any request that we made and/or questions we had, he was great answering and helping us understand. Then when we were ready for all documents and to move forward, Brendan helped with getting that together and the two of them worked their magic on New City's end to notify me of what was needed, assist me in that process and confirming that all was complete and approved for the coverage. I just want to say thank you all again so much, as insurance has always been confusing to me, and you all made that process go a lot smoother.Thank you
Andrea Ordendorff
Andrea Ordendorff
21:06 07 May 21
I've been working with both Clayton and Brendan for well over a year. As the purchase of our dental practice was delayed well over 14 months they both patiently supported me and continued to make themselves available. When we were officially ready to sign up they made the whole process seamless and super easy. This team is highly knowledgeable, professional, supportive, and efficient! I can't thank them enough for everything they've done.
T W
T W
22:32 30 Aug 20
I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!
Mary Jane Deyette
Mary Jane Deyette
00:57 11 May 20
Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff
Alma Ortiz
Alma Ortiz
22:25 23 Feb 20
Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!
jessica kavanagh
jessica kavanagh
19:53 13 Feb 20
Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.
Tricia DeYoung
Tricia DeYoung
19:49 13 Feb 20
I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.
B Bayer
B Bayer
17:43 24 Sep 19
NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!
Jessica Lehr
Jessica Lehr
03:36 07 Jun 19
Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.
Mike McClay
Mike McClay
19:36 03 May 19
My employer uses New City as their insurance broker, and I'm always amazed when I call in for assistance by how knowledgeable and attentive their staff is with my requests. Their online benefits platform makes selecting insurance plans pretty darn easy. I would highly recommend their services.
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