Hospital Visits Can Bring Financial Worry To Employees
We all know that a trip to the doctor or running a medical test without insurance can be costly. Imagine the cost of being hospitalized for days, or expensive testing to know what is really wrong. The cost of insurance allows you and your team to stay focused on the work at hand when life is happening elsewhere. Life always happens.
Since the Affordable Care Act altered the health insurance landscape, companies have been focusing more than ever on benefits that cover the areas where traditional health insurance often falls short. One of those areas is hospitalization costs.
The average health-plan deductible has more than doubled in the past decade — increasing from $584 in 2006 to $1,318 in 2015 according to the The Kaiser Family Foundation, Employer Health Benefits Survey, 2015.
Hospital indemnity insurance can be an important way to help employees bridge this gap.
Fewer worries, higher productivity
When employees have financial worries, it draws their attention away from their work.
1 in 5 employees report that issues with personal finances have been a distraction at work according to PricewaterhouseCoopers, Employee Financial Wellness Survey, April 2015.
Think of all the little worries that come with the prospect of a hospital visit. “That test is so expensive — do I really need it? How will I pay for my next doctor’s appointment?”
Hospital indemnity insurance can help alleviate those worries.
Employees can use this type of insurance to help cover the cost of high deductibles, co-pays and other out-of-pocket expenses for:
- Hospital stays
- Surgeries
- Diagnostic tests
- Emergency room tests
- Other hospital expenses
Keeping your employees focused at work will be way less costly to your organization than them not being there. Plus offering solutions to rising medical costs, like hospital indemnity insurance, is a way to show you care for those that work for you.
Highest regards,
Stacia
[USM_plus_form]