Maximizing Your Benefits: How Educating Employees Boosts Health, Savings, and Retention
Every employer has a plan to educate their employees about their benefits plan, but is that education comprehensive? Curated to the employees’ preferences? Does it increase utilization? The simple truth is, better-educated employees make more informed decisions about their healthcare, which can lead to improved health outcomes and reduced overall expenses for your organization. If your employee benefits consultant is “checking the box” in this vital area, here are a few of the ways in which the BSI team supports our clients differently.
When employees understand their benefit offerings, they are more likely to use them effectively. For example, if an educated employee has access to telemedicine and their child develops pink eye, they would be more inclined to use the telemedicine benefit rather than going to an urgent care center or seeking care from other costly options. Using the telemedicine benefit saves the employee not only time and money, but also enhances a company’s bottom line.
Comprehensive Communication Strategies
At BSI, we recognize employees need to be educated about their benefits throughout the year to keep their benefit offerings top of mind. Our comprehensive communication strategies utilize a variety of channels such as a monthly benefit/cost savings newsletter, customized printed materials, in-person meetings, digital recordings for employees and new hires to reference anytime throughout the year, virtual Q&A sessions, and notifications through a benefits app. Our focus is to break down complex information into digestible segments so employees fully understand their benefit offerings and how and when to use them. To meet the diverse needs of our clients, we also offer materials in both English and Spanish.
By focusing on one particular benefit at a time, we have increased utilization and reduced claims. For example, LifePath, which provides care for people with intellectual disabilities, had a significant number of employees using the ER for non-emergency care. Our team went on-site to relay the importance of using an urgent care center over the ER and created “where to go for care” educational flyers listing all urgent care centers within a 25 mile radius of each of their locations. Overall, our proactive approach to educating employees about going to an urgent care center over going to the ER lowered their ER utilization by 40%!
Educating employees about their benefits not only helps them make better decisions about where to go for care but can also have a significant impact on their morale, finances and a company’s productivity. For example, the average utilization of telemedicine is around 21%1. By continually reminding employees about the benefits of using telemedicine, they are more likely to schedule virtual appointments with healthcare providers at their convenience, saving them time and money, reducing absenteeism, but also promoting early intervention for health issues. A client of ours, the County of Northampton, implemented a telemedicine benefit in 2018 and through BSI’s rigorous educational efforts saw 62% of their employees utilizing the telemedicine benefit leading to the County saving over $2.2M.
Overall, BSI’s proactive approach to educating insured members about their benefits encourages better utilization, leading to healthier employees and lower costs.
In-House Customer Service
In addition to regular communication touchpoints, employees have the option to reach out to BSI’s in-house customer service department anytime with a question or concern. Our in-house customer service department, available free of charge, is modeled after a concierge service. Our team works with employees and HR teams to educate, advocate, and provide support, ensuring that members have the tools and resources they need to make informed healthcare decisions. For example, when an employee needs to find an in-network medical provider they can call our customer service department who will direct them to one covered by their medical plan. One of the other benefits of utilizing this service is our customer service team is fully versed in all of the benefit offerings offered by their employer. This ensures the insured member is utilizing the best healthcare option available to them.
Positive Impact on Morale & Retention
Investing in educating employees about their benefits positively impacts not only a company’s bottom line but also workplace morale and retention. Employees who feel valued and informed about their benefits tend to be more satisfied with their jobs, fostering a positive and engaged work environment.
A recent study by Health Equity2 reveals that employees place significant value on benefits literacy and appreciate the efforts their employers make to enhance it. In fact, more than half of respondents (54%) reported that a better understanding of their health benefits directly contributed to their overall job satisfaction. The impact goes beyond satisfaction, too. 97% of employees who feel supported in understanding their benefits also plan to stay with their employer for at least another two years.
By creating a culture that prioritizes employee well-being and education, you can enhance retention rates and help promote better healthcare consumers.
By adopting a proactive approach to benefit education, BSI empowers employees to not only make informed decisions about their health and financial well-being, but also cultivates a culture of health awareness and responsible healthcare consumption. Don’t miss out on the opportunity to enhance both employee satisfaction and your company’s financial health – start prioritizing benefits education today.