Better benefits are possible… but it’s really hard to know where to find them without help.
We recently interviewed a small business owner who’s a customer of Remodel Health. We believe their perspective and experience are extremely helpful for small business owners looking for a change! If you’re on the hunt for better health coverage for your employees, here are the 3 steps they suggest for better benefits for small businesses:
1. Do Something
Only 2% of small businesses say that health benefits are their top priority. This makes sense, considering how out-of-reach control has become on traditional group plans. If you track the trend of health benefits over the past 20 years, we’re precisely where we should have expected to be.
That doesn’t mean we can do anything about it, right? Here’s what the small business owner had to say on the matter:
“Any individual not wanting healthcare for their employees or seeing value in paying for it does not want healthy employees… While this is an expense I wish we did not have to assume, we also realize that benefits are a great way to create employee contentment,” says the small business owner.
56% of employees in their current job will decide to stay or to leave their company based on the health benefits offered. Not only that, 46% of individuals seeking employment will make their decision not on the wages, but instead on the benefits.
If you’re not offering better benefits, you’ll lose employees to other businesses that offer them.
Several years ago, we saw a decline in the total number of uninsured Americans in the U.S. Now, however, that trend has started going up again, with more Americans becoming uninsured than ever. This is not good news, considering the #1 cause of bankruptcies in the U.S. is medical expenses.
Thankfully, there are new options that have been developed over the past 10 years to provide cost-effective solutions for employers to stay competitive and helpful in health benefits without breaking the bank — such as telehealth, benefits coaches, etc. As an employer, it’s important that you just do something for employee health benefits.
2. Do Better
The increase in uninsured Americans is not due to employers stopping their plans. Instead, employees are simply not seeing the value of their benefits because they’re still so expensive. It seems employers need to do better for their employees.
What if health benefits were more than just the insurance card and copay you shell out when you visit the doctor a couple of times per year? What if benefits were more about the overall experience with health insurance — the personal care you receive on your way to receiving your actual healthcare.
The small business owner shared, “When [my spouse] had a bad accident, it would have been very difficult to navigate healthcare alone… The hospital bills would still be getting paid off… but having help to assist during quick recovery and a caring group of individuals is something you seldom get in healthcare in 2021…”
What about when an unplanned surgery comes your way? Instead of worrying about what your bills mean, you can have a benefits coach and care team to take care of complicated details. Now, you can focus on your rehabilitation and recovery. That is experiencing better benefits. This takes a change of mindset.
The small business owner shared, “We found the transition [to Remodel Health] to be smooth. There were questions, but setting up an introduction with Remodel Health and ensuring employees had correct contact information was key to success.”
Doing the same thing produces the same result. Better benefits and savings are not available if you just keep going with the same old, overpriced group plan.
The reality is; those small businesses that leave traditional group plans save money. This is not about spending more, this is about doing more with what you’re already spending. Make your dollar do more for you.
3. Do More
When you ditch your old group plan, you can tap into better benefits for small businesses. Something called “managed individual” gives a budget to your team to shop for their plan. Instead of giving them the one-size-never-fits-all product you’ve been habitually selecting each year, you give them personalized benefits.
“As a small business, we do not have an HR department, I was managing most of the healthcare issues. Calling yearly to get costing, being overwhelmed with the amount of data and inconsistent plans, and not comparing them logically was very discouraging. The ‘mental’ savings of not having to deal with each individual and having them in my office explaining why we should consider their choice,” shared the small business owner.
The kicker is when your employees shop for their plans, they get deep individual discounts. These are not available if you offer a traditional group plan. This means you can give them less of a budget than you used to spend, and it buys them more.
Imagine if your small business could have more time, more help, and more options!
We’re not just talking about better benefits for employees. We’re talking about better benefits for you, too!
Better benefits for small businesses are possible. When you rethink health insurance for your team, you discover all of the options available.
Let someone else handle your small business’ healthcare. You’ll have more time to do what you do best: lead your company. Get help when you need it most and make sure your team is never alone in their healthcare. Explore dozens of new and improved options to ensure each plan is tailored to the actual needs.
Don’t be left behind. Hundreds of thousands of small businesses are already switching over to the new way of controlling costs and quality of health insurance better. Connect with a Remodel Health consultant for your risk-free Health Benefits Analysis. We’ll help you understand what better benefits can finally look like for your small business!
Important Notice: Remodel Health does not intend to provide specific insurance, legal, or tax advice. Remodel Health always recommends consulting with your professional representation to properly evaluate the information presented and its appropriate application to your particular situation.