When is a health insurance plan about more than coverage amounts? | ArmadaCare

Executive Health November 3, 2021

When is a health insurance plan about more than coverage amounts?

It’s easy to say that not all employee health insurance plans are the same. After all, some offer significantly higher coverage amounts than others, or offer wider physician networks. The differences go beyond these basics, however.

A truly comprehensive health insurance plan won’t just have bigger numbers than other options. It will provide ancillary benefits for members, giving them new options for how they receive care.

By focusing on this type of added value, companies can make their benefits packages stand out. Especially in today’s talent war conditions, with top job prospects potentially choosing between multiple employer offers, health perks can clearly show that a company cares about its employees’ well-being.

Health care: An essential benefit

Why put time and effort into giving employees an impressive, value-packed health insurance plan? In short, because the company truly cares about this aspect of an employee’s life.

When asked which benefits they consider “very important” or “extremely important,” 90% of employees name health care.1 That makes health the No. 1 perk, sought even more so than a flexible work environment or the availability of leave (tied at 83%).

In addition to being the most popular employee benefit, health care has held steady at the top of the list, even while other items have shifted. In times of relative normalcy or the depths of crisis, employees want to know their health is taken care of. Benefits in general can move the needle with top job candidates: 60% of prospects consider benefits during the hiring process and 80% would opt for perks over pay raises.2 It’s time for companies to decide just how impressive a package of insurance options they can put together.

Health plan features (beyond high coverage limits)

Finding health packages with offerings that go beyond pure monetary limits allows employers to differentiate themselves. But what are some of the impactful options on the market?

Vaunted features should have real value for employees, dealing with common situations they can easily envision. These straightforward, useful options can include:

  1. Physician matching: Whether seeking a specialist or a primary care physician, employees may struggle to find the right person quickly — unless they have help. Health insurance plans that include access to cutting-edge matching services can prove crucial, as once members have gotten the doctor-search process out of the way, they can actually start using their health benefits.
  1. Additional physical exams: Preventive care and early detection of conditions are useful parts of health care in general. Finding the signs of a problem before it becomes pronounced benefits everyone by helping treat that issue effectively and affordably. Some health insurance plans include their own examinations, beyond employees’ physicals with their primary care doctors, to help with detection and diagnosis.
  1. Emergency travel offerings: In times of health crisis, the extra difficulties and expenses associated with a condition can be as bad as the main problem itself. For instance, what happens when someone suffers an injury or sudden onset of illness away from home, far from their families and their main health providers? Travel options offered as part of a supplemental health insurance plan can take care of the logistics of getting the patient home, so they can focus on receiving necessary care.

These features and others like them may prove compelling, because they stand out in ways a simple coverage limit increase can’t. Employees can picture themselves needing access to features like these, and they’ll know where they can turn to get them.

Supplemental coverage as a hiring and retention edge

In a tough, competitive hiring environment, companies are struggling to not just find top employees, but also retain them. The current “great resignation” has seen plenty of skilled workers become dissatisfied with their present posts and leave.

These professionals may find they don’t want to leave their employers, however, if they are receiving perks and advantages other companies can’t replicate. This is yet another area where feature-rich health insurance coverage is a potential differentiator.

ArmadaCare’s complementary health insurance plans* help take coverage to new levels that can impress prospects and current employees alike. The Ultimate Health package is designed to provide the added benefits top employees will respond to. Learn more now.

*The above referenced supplemental health insurance policies have exclusions, limitations and benefits that vary by plan and state. To obtain a quote or for more details on coverage, contact ArmadaCare.  

ArmadaCare’s supplemental health insurance policies are underwritten by Sirius America Insurance Company and Transamerica Premier Life Insurance Company. Insurance plans and coverages vary by state. Please contact us to confirm state availability.

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[1] SHRM, 2021

[2]Glassdoor, 2021

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