NEW YORK— Commuter benefits provider, Clarity Benefit Solutions, shares ways to cut costs without cutting important benefits.
Research shows that health benefits are of the utmost importance to employees—increasing productivity as well as job satisfaction. That said, the rising cost of health care has some employers in a quandary. How can they cut costs while continuing to offer the best health benefits? Here are some ways to realize this goal.
Reducing costs is a matter of employers educating themselves on the best benefits packages to provide to their employees and keeping up to date on common cost controls. Meet with a broker for guidance in finding the best plan that provides the most savings.
Next, it is vital to relay this information to employees in a clear, concise manner. Most employees don’t take the time to read up on their benefits offerings. Oftentimes, those who do peruse the information do not fully comprehend it. Present the information in a variety of formats (print, website, posters, social media, apps), so employees can choose the method they will learn the most from. If employees aren’t well versed in their benefits, they may not use them, which will cost employers more money.
Employers who offer Health Savings Accounts (HSAs) are on the cutting edge of cutting costs! While employees have more freedom to choose how and where they spend their monies—tax-free—employers have 100 percent control over claim costs since employees may only claim up to their individual maximums.
Telehealth apps can save both money and time while offering more personalized care with a modern twist. Employees can video conference, text, or call licensed medical professionals in lieu of traveling to the doctor’s office. Not only does this reduce absenteeism, but it also stops employees from wasting valuable time in waiting rooms and overcrowded medical centers.
Finally, utilizing an online benefits platform is an excellent way to cut costs without sacrificing benefits. Automating benefits streamlines the entire process, releasing HR personnel from monotonous, time-consuming tasks and freeing them up to be benefits experts.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.