Health care is the most important benefit that you can offer to your employees. Employees value health benefits and consider them the second-best thing next to monetary compensation. It gives the employer the added benefit of being able to employ and retain the best talent in the organization. Further, healthy employees drive the success of the business, irrespective of its size.
Below are the 5 health benefits which you can offer to your employees-
1. Wellness Benefit –
Many companies are looking forward to creating a conducive atmosphere for a healthy workforce. As a result, you can also initiate wellness programs to keep your employees active, happy, and productive. Some of these programs consist of a company gym, exercise class, mediation room, stress management classes, etc. Overall, these programs are advantageous to companies, simply because when employees are happy, productivity is at a high level. Moreover, wellness programs also help in saving money. Healthy employees take fewer sick leaves!
2. Group Health Insurance –
It is one of the effective ways to secure the health of employees by covering them under a single health insurance policy. Your employees are your key strength and their sound and healthy state will surely reflect on your company’s productivity. In order to ensure smooth and efficient business practices, corporate health insurance can go a long way. Not only are employees covered from day 1, but extend the coverage includes their family members as well. In most cases, offered it free of cost. However, where it is a paid benefit, employees are required to pay only a nominal premium amount.
Buying group health insurance is beneficial for employers as well who can avail of tax benefits on the premium paid towards the policy.
3. Healthcare Reimbursement –
Employers can provide an allowance for health insurance in the form of a stipend or a gift card. Under this benefit, the employer offers a health insurance allowance or a fixed amount that employees can use to pay for their healthcare. It means employees can choose that healthcare policy as per their requirements. Pay for it and then get the premium and out-of-pocket medical expenditure reimbursed up to the limit as specified by the employer.
4. Vacation Pay –
Do you know, a few years ago, India was ranked as the fifth most vacation-deprived nation in the world? A good vacation is necessary to rejuvenate your energy and all your senses. Employees need short-term breaks to recharge themselves. Therefore, companies should provide paid vacation to their employees so that they can spend more time with their families and friends. It will lift both their mental and physical health— happiness boosts overall health. Further, you can make paid holiday benefits directly related to the performance of an employee. It will ensure that the company’s performance is not affected. After all, a hardworking and determined employee deserves a holiday!
5. Medical Camp –
It is a good idea to organize a medical camp every three months for your employees. Medical professionals can provide useful tips to employees. Such camps help in detecting any health issues at the initial stages so that proper care can be taken before the situation aggravates. The benefit extends to family members of employees also.
In addition to the above, offering paid sick leaves and maternity and paternity leave may also give the employees, great health benefits. The Maternity Benefit (Amendment) Act has increased maternity leaves from 12 weeks to 26 weeks for women working in an unorganized sector. You can go one step ahead and offer additional services like a free fortnight medical checkup for pregnant employees. Or paternity leaves, healthy meal options, etc.
About The Author
Mayank Sharma
MBA Finance
He is a professional who brings extensive knowledge and expertise to the field of group health insurance. He has dedicated 7years to helping individuals and businesses navigate the complexities of insurance. Having worked closely with numerous clients and insurance providers, he deeply understands the nuances of group health insurance policies. With a reputation for providing insightful and informative content, he leverages his industry experience to educate readers about the importance of group health insurance and its benefits. Through their articles, Mayank Sharma aims to empower individuals and businesses to make informed decisions about their healthcare coverage, ultimately promoting healthier and more secure communities.
