Paramedical services in employee benefit plan generally covers chiropractic services, physiotherapy, massage therapy, naturopathy and acupuncture services.
1. Attracts prospective talents and helps retain current ones
Paramedical services are often described as a nice-to-have addition to employee benefits plans instead of must-haves. But more and more employees are seeing the importance of these services. Having them as an added value to your benefits offering not only attracts prospective talents, but also helps retain your current ones.
2. Increases employee morale and loyalty
Basically the employee at hire will be responsible for paying a portion of the cost for the coverage, which will be reduced the longer he/she stays with the company. This will create good usage habits for new hires and rewards loyalty at the same time.
3. Costs can be controlled
Making paramedical services work for you and your employees relies on sustainability. In order to include Paramedical Services in your benefits plan you need to manage the costs and have a budget.
First of all, runaway expenses can quickly derail your plan. Managing and monitoring plan benefits usage is crucial to identifying patterns, which can be use to modify the offerings for future sustainability.
Secondly, adding minor restrictions to the plan can also help mitigate bloated costs. Enforcing a per-visit or per-practitioner limit is a good idea, but can still be expensive if the plan member has a large family. Many companies have adopted this option instead a family maximum, which encourages employees to be more responsible with their usage.
Another option for cost control can be to implement a tiered based coverage based on tenure.
Offering paramedical services to your workforce is a great way to keep them healthy and happy, but being cognizant of the accompanying costs is also extremely important. Finding a balance between employee morale and the costs is the bottom line to the successful employee benefits plan.
Need to get more information about paramedical services?