In light of the many changes occurring in the healthcare industry following the ACA, it’s essential for employers to find ways to ensure their employees have access to the financial protection and care they need. The right mix of voluntary benefits, like the range of voluntary products provided by Allstate Benefits, can provide consumers a cost-effective way to supplement healthcare coverage, helping them enjoy lower premiums while protecting their health, their families and their income. Employees want choice and they want value, and they often trust their employers to manage the behind the scenes work. This requires you to vet the best voluntary products and negotiating the best price. But how can you be confident that you’ve designed the best voluntary package to drive organizational goals and meet your employees’ needs?
A great place to start when developing or restructuring your voluntary benefits program is to dive into the objectives of your core medical plan and determine which voluntary products best support those goals. Whether you’re undergoing a transition to a high deductible health plan (HDHP) or attempting to combat growing healthcare costs, a strategically designed voluntary benefits program can be leveraged to support your organizational directives. Once you’ve decided what products to offer, you should then devise a strategic communication plan—as many voluntary products are relatively new to employees. Educational videos and other resources can be extremely useful to generate participation and empower individuals to make more informed healthcare decisions. Once your plan is in place, data analytics tools can help you to better understand usage trends and further refine your program.
Listen to this podcast for a detailed itinerary of the voluntary benefit program design process—and learn how you can better support your employees while driving your organizational goals!