Why your employees need health insurance

    August 6, 2018

    As an employer, you need to ensure that your employees are healthy and fit. Otherwise, your business will flounder and productivity levels will decrease drastically. Offering your employees health insurance as part of their benefits package is advantageous to not only them but to you as a business owner.

    There are several companies that offer this type of product, and information on affordable options by one such company can be found in the African Unity Life bio. Below are just some of the reasons why your workers need health insurance.

    It improves employee morale

    Having benefits such as health insurance can help to drastically improve employee morale, which in turn increases productivity levels. A survey showed that health insurance is one of the most important benefits to the people that work for you, meaning that offering this benefit will result in satisfied employees.

    If health insurance is a top priority for your workers, then it should be a top priority for you. Happy Employees and Health Insuranceemployees are often harder working, and employees who know that they are able to go to the doctor or hospital when they need to will be happier and more satisfied. If you are unable to offer a medical aid for your employees, then health insurance or a hospital plan are also options that you could pursue.

    They will have access to more hospitals and GPs

    Group health insurance allows your employees access to a larger network of hospitals and GPs, making it easier for them to choose a hospital that is closer to their home for efficient emergency access.

    Individual plans may be restrictive in their offerings of hospitals and doctors, which is why offering a group medical aid scheme to your workers is more beneficial. Some of your employees may not be able to find transport to hospitals on individual networks but on some medical aid schemes, they can choose hospitals closer to their homes or public transport stations.

    Insurance costs are lower

    Having group health insurance means that the risks and costs are spread out among everyone who is a part of the group. Businesses can usually get lower rates for group insurance than on individual insurance which means that your workers will be paying relatively low rates in comparison.

    It is beneficial for you as an employe, to extend coverage to employees so they benefit from lower health insurance costs. You may think that offering health insurance benefits will be costly but if you choose the right scheme, you will pay significantly less than you initially thought. Speak to your employees about what matters to them in terms of health insurance coverage to decide on which scheme to choose.

    Healthier employees is a bonus

    Having healthier workers will lead to a more productive workforce, as well as save you money on sick leave costs. If your employees have a sound medical aid in place, then they will be able to go for medical and dental check-ups regularly, and practise preventative health measures.

    Health insurance will also allow sick employees to visit the doctor before they become too contagious, rather than having to take sick leave to recover. Too many sick employees leads to too many sick days, which can be highly detrimental to your company’s productivity and profitability. Healthier employees will also remain loyal to your company, as you are taking care of their wellbeing.

    It will save them and the business money

    Having a group medical aid scheme means that both employers and staff will pay less on health insurance taxes. When employees buy health insurance on their own, they have to use post-tax money to buy it but as a group, they are using pre-tax money, which can save up to 30 to 45 percent on their health insurance plans.

    The benefits as an employee are also significant. Contributions from personnel are tax deductible and employer payroll taxes are reduced. You will be saving money if you implement a group medical aid or health insurance scheme, money which can be used on other business endeavours or expenses.

    It is inclusive of all employees

    Having a group medical aid scheme means that all of your workers are covered and all of them will have a chance to maintain their health. Having to take out a medical aid or health insurance on one’s own can be difficult and expensive, but a group medical scheme allows employees who may be battling financially an opportunity to access health care.

    An inclusive workplace creates a positive atmosphere and is a pleasant place to work. You will find that your workers are harder working if they know that everyone in the office is equal footing when it comes to employee benefits. Rather than having to worry about how they will overcome an illness, all of your workers will be able to visit a doctor or hospital whenever they need to.

     

    All info was correct at time of publishing