Question

how do you provide effective medical benefits while also controlling the cost?

how do you provide effective medical benefits while also controlling the cost?

Homework Answers

Answer #1

When it comes to providing health insurance to employees, employers, particularly smaller ones would usually struggle with the associated costs. However, health care benefits are a very essential tool to help retain the best talent as well as keeping employees motivated.

Some ways to controlling costs may be:

  • Providing Benefits on a reimbursement basis i.e. to ask employees to avail the insurance themselves & obtain reimbursement for premium costs subject to previously set caps
  • Asking employees to pay deductible or sharing some amount of premium with employees.
  • Encouraging Health Consciousess among Employees, such as no smoking during office hours or increasing awareness towards junk foods may as well be one potential solution.

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