8 Products to Consider for your Health & Wellbeing Strategy
Updated: Oct 9, 2020
Having a good health & wellbeing strategy will not only help you recruit and retain staff, it should also help improve your company’s productivity, by reducing absenteeism due to poor health. Here are eight products that you might consider to include in your strategy.
Professionals on hand 24-hours a day to support your employees with any issues they may have, including job stress, depression, financial issues, gambling, substance misuse, loss and grief, parenting etc. Face-to-face counselling is also available.
Allows your employees to claim back cash for their everyday medical expenses including private GP Fees, consultations, diagnostic tests, dental, optical & physiotherapy.
3. Dental Cover
Employees can claim back the costs of routine checks (e.g. examinations and x-rays), routine treatment (e.g. scale & polish and fillings) and major treatment (e.g. crown, post, root canal & bridge). By making dental treatment affordable, employees are encouraged to to take a preventative approach to their dental health, resulting in less time taken off work due to unexpected dental problems.
Arguably the most popular employee benefit, which gives employees fast access to private medical treatment including consultations, diagnostic tests, therapies, in-patient and day-patient treatment. The benefit helps productivity by reducing absenteeism due to ill health.
Group Life (also known as death-in-service) is designed to pay out a lump sum to dependants in the event of an employee’s death, providing them with financial security. The lump sum is normally based on a multiple of base salary, typically 2 to 4 times.
Group Income Protection is designed to provide an employee with an income if they are unable to work, as a result of a long-term illness, or injury. The benefit pays out after a deferred (waiting) period, typically 6 months and the income is normally based on a percentage of the employee’s salary before they became ill e.g. 50% or 75%.
Group or Business Travel Cover provides an employee with all the usual benefits of travel insurance such as medical, personal baggage, cancellation, missed departure etc. and also includes additional benefits including business equipment cover, legal protection and colleague replacement. The cover can often be modified to cover leisure travel including family members.
If you have employees who are based overseas for long periods, international private medical insurance is a necessity. It provides cover for elective (planned) medical treatment, in addition to emergency treatment. An increasing number of countries are making it mandatory for residents to have private medical insurance cover, especially in the Middle East.