Simplify the Switch to Affordable Health Insurance: A Guide for Employers
11 Minutes
Team Curative
Aug 14, 2024
Retaining top talent goes beyond competitive salaries and workplace culture. Retention hinges on offering benefits that genuinely support your employees’ well-being. Affordable health insurance is a game-changer, and making the switch doesn’t have to be daunting or convoluted. With improved and innovative health plans coming to market, it’s important to know how investing in affordable health plans can make all the difference for your talent.
In this guide, we will cover best practices for pivoting to top-notch health coverage that keeps your talent healthy, happy, and empowered in their healthcare journeys.
Why the switch to affordable health insurance matters
In 2021 and 2022, a record number of U.S. workers left their jobs, driven by factors like low pay, lack of childcare, excessive hours, and inadequate benefits.
Finding ways to improve employee satisfaction is paramount for business success:
Organizations reported that their top priority is retaining talent, surpassing revenue goals.
61% of employers report difficulty retaining employees.
Employee turnover costs can range from 1-2 times the employee’s salary.
20% of frontline employees plan on leaving their current job within the next three to six months. Employee engagement and satisfaction are waning, compounded by a broken healthcare system. Since approximately 60.4% of non-elderly American workers have employer-sponsored insurance, employers and business leaders play an essential role in improving the lives of their talent with the benefits they offer.
Employers can significantly improve access to better well-being by providing comprehensive, affordable health insurance plans that focus on affordability and access to preventive care resources. A recent survey found that 79% of surveyed workers reported that having a job that offers employer-sponsored health insurance is important to them.
However, not all employer-sponsored insurance plans are made the same. A recent survey found that a majority of Americans with health insurance said they had encountered obstacles to coverage, including denied medical care, higher bills, and a lack of providers in their plans. As a result, many people delayed or skipped treatment. In addition to health-related consequences of inadequate coverage suffered by talent, productivity losses linked to absenteeism and presenteeism from chronic illnesses and injuries cost U.S. employers $2,945 per employee per year. To best support your business’s talent — and grow your business — offer comprehensive, affordable health insurance plans.
How to evaluate current and prospective providers
How do you know if you need to make the switch to better affordable health insurance plans? First, analyze the ways your current health insurance offering is benefitting — or not benefitting — your talent. Here are some factors to consider:
Affordability for you and your employees
Is your current plan cost-effective for both your organization and your employees? Ask your employees if their premiums, deductibles, and out-of-pocket costs are manageable or if they find themselves deferring care due to unreasonable costs.
Preventive care access
Does your current plan promote preventive health by covering services like routine check-ups, screenings, and immunizations? Does your plan promote the benefits of seeking these services to catch potential issues early?
Mental health care access
What kinds of mental health services does your plan offer? Are counseling,therapy, and psychaitry readily available to your employees, are teletherapy options included, and are sessions adequately covered?
In-network providers
What is the availability and accessibility of your plan’s in-network healthcare providers? Are your employees able to find a provider they connect with, and is there a wide range of quality medical professionals from which to choose?
Next, evaluate any potential new healthcare providers based on the previous points, in addition to the following factors:
Reputation
Research a potential provider's industry reputation and customer reviews. This feedback matters as it helps guarantee they have a history of dependable service, and companies are willing to recommend them.
Values
Ensure the provider's values align with your organization’s culture. Look into transparency, reliability, and commitment to patient care and how evident they are in their offerings.
Ratings
Investigate independent ratings and reviews from multiple sources. Comparing ratings across multiple sources allows you to gain insights into customer satisfaction, claim resolution efficiency, and overall service quality. Look for companies with high scores from global credit rating agencies, such as Curative’s A- (Excellent) rating from AM Best.
Organizational Fit
Even great plans can be the wrong plans if they are not tailored to fit the needs of your talent. Consider how well a potential provider's offerings match your specific organizational needs and employee demographics.
Reliability
Examine the provider’s track record for stability and dependability. Focus especially on their history of claim processing, customer service responsiveness, and onboarding support.
Finally, before your organization decides to make the switch to affordable health insurance plans, consider how the process might impact both the business and talent as individuals:
Will employees be able to access benefits easily?
If there are disruptions in coverage, are there providers that employees can access in the meantime?
Will the new plan address key pain points expressed by employees?
Will the new plan encourage healthy work and personal habits?
Will offering affordable health insurance plans improve the bottom line?
So, you’ve decided you want to offer your talent the best affordable health insurance plans available to support them both individually and professionally. Here’s how to make the switch as seamless as possible.
Ensuring seamless onboarding and employee enrollment
Plan
Before you take the first step to switch health insurance providers, ensure you have a set plan to follow. This will make the entire process easier to execute, and it will make the process easier to convey to staff, who will undoubtedly have many questions and concerns regarding the change. Employees trust that their employer has done their due diligence to select the organization's best affordable health insurance plans.
Once you’ve assessed employee insurance needs and expectations, thoroughly research your options. Note important factors like cost transparency, affordability, access to providers, and access to preventive care services, such as vaccinations, check-ups, and mental healthcare. Considering these factors in totality will help you choose a plan that can improve employee health and wellness.
Communication
Health insurance plays a huge role in employee health and wellness. So, the primary concern when preparing to change which health insurance provider you offer talent is effective, consistent communication. Make sure employees know exactly what is happening by giving them plenty of time to make adjustments and resources to learn about the benefits being conferred by new affordable health insurance plans. Understand that health insurance can feel impossible to navigate for many people because its terminology is often ambiguous.
Business leaders can mitigate that complexity by consistently providing workers with information. Communication can be achieved via emails explaining when enrollment is starting, how to self-enroll, and specific details regarding how the plan works (in-network providers, pharmacies, dental and vision plans, short-term disability, and more). Another option is to hold open enrollment meetings, where teams can collaborate and review plan benefits. Meetings may be hosted by internal business leaders or a health plan representative.
Finally, employers can provide enrollment kits to each employee, empowering them to explore their options ahead of time. Enrollment kits may include:
Summary of coverage
FAQs
Benefits booklet
Expected employee costs
After you notify talent about a new health insurance offering, listen to their concerns and address them. Remember, transparency is key.
Also, ensure clear communication with the broker. The broker will facilitate the change, making it easy to relay information between your organization and the coverage provider. Pay attention to important data points, such as where employees are located or which languages they speak, so enrollment is made less tedious and time-consuming.
Resources
Last, make sure your organization is aware of the resources available to it during enrollment. For example, Curative, an innovator in preventive-care-focused affordable health insurance plans, offers virtual support and in some cases, training, for smaller organizations.
It’s time to change how Americans view wellness in the workplace. Consequently, business leaders will have to approach employer-sponsored insurance with unique, wellness-forward strategies. Business leaders should seek healthcare coverage that is comprehensive, affordable, easy to understand, and simple to use. The result? Increased employee engagement, better health outcomes, and a more engaged workforce.
Comprehensive, affordable health insurance plans employees need are here — that’s why your company should consider offering the Curative Health Plan.
Curative: empowering business leaders to change
At Curative, we want people to love using their health benefits. We know your organization does, too. Our health plan delivers better health through affordability, engagement, and simplicity, helping employers provide talent with comprehensive, affordable health insurance — including access to preventive care services. Our approach to insurance prioritizes providing your employees with access to healthcare. Here are a few primary and preventive care services we cover:
Annual Check-ups
Routine Screenings
Vaccinations and Immunizations
Chronic Disease Management
Acute Illness Care
Women's Health
Men's Health
Medication Management
Referrals to Specialists
Nutritional Counseling
Lifestyle and Wellness Coaching Referrals
Curative makes it easy for employers to make the switch by working directly with your broker to provide consistent, clear communication during open enrollment. We also offer facilitated onboarding meetings for employees to ensure your whole team understands their new benefits. By choosing Curative, you will be choosing to make a difference in employees’ lives.
Access to $0 care: Finding in-network services can take a lot of time, especially without help. We’ll help your talent find in-network services at zero cost to them, making enrollment even easier by taking one more thing off their plate. Learn more about Curative’s local and national provider network here.
No-hassle meds: Access to medication is a huge part of comprehensive healthcare. Members have access to rapid medication delivery through the Curative Pharmacy. We can also help your employees find an in-network pharmacy along with guidance on transferring and filling prescriptions. We’ll help ensure their medication is working properly and can offer guidance if they have questions about side effects or usage. No-hassle meds means your talent can focus on being their best self, both in and outside the workplace.
Support on your time: Our care team will help your talent stay on track with their care through one-on-one check-ins. We work around the work schedule and can provide support as frequently or as seldom as needed, so they can engage in their wellness while also being present in the workplace.
Virtual therapy: Today, many people are always on the go. That's why it's so important to allow your talent to utilize virtual care. It's hassle-free to schedule appointments, and your talent can get connected to a therapist within a week.
Cancer Screenings with Galleri: Curative offers eligible members no-cost access to the Galleri® multi-cancer early detection test from GRAIL. Galleri can help detect more than 50 types of cancer with a single blood test.
For more information about health insurance and how Curative can help you cultivate wellness in your organization and how easy it is to make the switch, reach out to us on our website today.
Every Curative member can qualify for the $0 deductible or copay for in-network care and preferred prescriptions. Just complete a Baseline Visit in your first 120 days of the plan's effective date. See curative.com to learn more. Curative Insurance Company PPO.
To see all disclaimers, please view them here.
References
Parker, K. and Horowitz, J.M. (2022). Majority of workers who quit a job in 2021 cite low pay, no opportunities for advancement, feeling disrespected. Pew Research Center. https://www.pewresearch.org/short-reads/2022/03/09/majority-of-workers-who-quit-a-job-in-2021-cite-low-pay-no-opportunities-for-advancement-feeling-disrespected/.
Integrated Benefits Institute (2023). Reimagining Strategies to Improve Employee Attraction and Retention, According to Integrated Benefits Institute Study. PR Newswire. https://www.prnewswire.com/news-releases/reimagining-strategies-to-improve-employee-attraction-and-retention-according-to-integrated-benefits-institute-study-301876770.html.
Workday (2022). Frontline Workers: How to Connect, Enable, and Support Them in the Modern Workplace. https://forms.workday.com/en-us/reports/front-line-worker-research-report/form.open.html?step=step1_default.
Claxton, Gary et al. (2024). Employer-Sponsored Health Insurance 101. KFF. https://www.kff.org/health-policy-101-employer-sponsored-health-insurance/?entry=table-of-contents-introduction.
Pollitz, Karen et al. (2023, June). KFF Survey of Consumer Experiences with Health Insurance. Kaiser Family Foundation. https://www.kff.org/private-insurance/poll-finding/kff-survey-of-consumer-experiences-with-health-insurance/.
Kaiser Permanente Business (2022, October). The real cost of workplace absenteeism — and what you can do about it. https://business.kaiserpermanente.org/california/engagement/absenteeism-costs-what-you-can-do.
