How a Strong Health Plan Can Lead to Higher Employee Retention

By providing a strong health plan, your employees have the peace of mind to worry less about healthcare. Here are five ways a strong health plan retains employees:

1. Advantages of the right plan size: Health insurance plans vary in network sizes, so offering a plan with access to a large network, including your employees’ preferred doctors and medical facilities nearby, can help them select the best options. Knowing a PPO (Preferred Provider Organization) offers more flexibility and fewer restrictions for non-network providers, while an HMO (Health Maintenance Organization) is cheaper but restricts coverage to in-network providers, can aid your employees in choosing a plan that best fits their needs.
2. Specialty products for additional coverage: Adding specialty coverage strengthens your overall benefits package without sacrificing value. Medical Mutual offers a full suite of specialty options, including dental plans from Superior Dental Care (SDC), indemnity, life and disability coverage from MedMutual Life, and vision plans from EyeMed and VSP. Consolidating your benefits with the Medical Mutual family of companies simplifies administration and delivers a unified experience for your team. Plus, you can get a one-time, multi-policy bundling credit of up to $8,000 when you bundle dental, indemnity and life insurance with your health plan.
3. Budget-friendly prescription costs: Each employee has different health needs. Some may have chronic conditions, like diabetes or asthma, that drive up their medication costs. A health plan with strong prescription cost coverage can help alleviate hardships on drug availability and their wallet. Additionally, encouraging employees to use generic drugs and mail order for long-term prescriptions can continue to aid in lower costs. Medical Mutual partners with Express Scripts, our pharmacy benefit manager, to offer integrated solutions to help business owners and their employees better manage their healthcare and costs.
4. Tax-friendly assistance: Medical Mutual offers a fully integrated suite of tax-advantage accounts designed to streamline administration, reduce costs and empower your employees to take control of their healthcare spending. The option to add a health savings account (HSA), flexible spending account (FSA) or a health reimbursement account (HRA) can encourage your employees to make informed, financially responsible choices about their healthcare. These products allow them to budget for medical care throughout the year.
5. Extra value from benefits: Exceptional health and wellness benefits show your employees how much they’re appreciated. Options like fitness discounts and resources to help quit smoking can help keep them feeling their best at little to no additional cost. An employee assistance program (EAP) can provide tools and resources to improve mental health and provide employees with fully integrated wellness coverage. MedMutual WELL™ offers your employees comprehensive wellness solutions that promote proactive health and well-being, including fitness discounts, enrollment in weight management programs like WeightWatchers®* and tobacco cessation resources through Pivot® to help quit smoking.