You are familiar with some of the health insurance hot topics in the media. From Health Care Reform to wellness programs to Medicare Part D supplements, there are a wide variety of ways to provide relevant health insurance information to your employees.
Don’t offer an insurance option to employees?
- Do the homework for them. Provide a list of local or affordable insurance companies and a breakout of their plan options. If premiums vary based on individual heath factors, attempt to negotiate an employee discount with the insurance company.
- Provide the bare minimum. Once or twice per year, offer free or reasonably priced biometric screenings so employees can learn their cholesterol, blood pressure, and glucose levels.
- Provide an incentive for employees to take a private plan or be insured through their spouse. Make it meaningful. A $5,000 annual reward is $5,000 you’re not spending in medical claims. (Clearly I’m exaggerating the amount, but I hope you get the idea.)
Don’t have access to a fancy wellness program?
- Encourage employees to get healthy either as a group, in teams, individually, or privately. For those employees who would like the support of their colleagues, provide a place for employees to log their results.
- A la carte options such as: a 10 minute power walk, eating a combination of fruits or vegetables totaling 5 different colors, 5 glasses of water, limiting snacks or coffee, or encouraging a healthy breakfast. Get creative.
- Partner with other small businesses to make it a company competition.
Have a resource center for Medicare.
- There’s no mystery that Medicare is confusing to most Americans. Keep it simple.
- Part A: Complete enrollment about 2 months before your 65th birthday. You are eligible the first of the month of your birth month. For example if your birthday is February 3, you are eligible February.
- Part B: If you are enrolled on an employer plan that will carry you beyond your 65th birthday, then you do not need to enroll in Part B until you leave your employer whether it be termination or retirement. There should be no penalty if you can verify no gap in coverage.
- Part C: Doesn’t exist
- Part D: Prescription drug coverage. There are a variety of supplements that vary based on supplemental plan and the specific prescriptions the individual has prescriptions for. Shop around.