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How to Handle Rising Healthcare Costs – and Employee Complaints

Posted on February 19th, 2016 Read time: 2 minutes

As a business owner or manager, you wear many hats and juggle many responsibilities. Having to explain to upset employees why their healthcare costs continue to rise shouldn’t be one of them. Learn how to handle this issue or, better yet, have Innovative Employee Solutions handle it for you.

  • Get Facts

Talk with your accountant and insurance agent to discuss your costs and effects of health insurance before you talk with your employees. People often panic when discussing rising costs of healthcare. Let your workers know you’re doing all you can to help offset their cost of insurance. 

  • Highlight Advantages

Benefits covered by the average health plan weren’t very diverse before the Affordable Care Act was implemented. Current plans tend to offer more coverage than before. Create a document showing how much employees receive in exchange for their share of health premiums. The benefits will outweigh the costs.

  • Offer Perks

Although there isn’t much money outside of wages, benefits, and healthcare costs to spend on your employees, you can offer things that won’t cost much money but make a large impact. Offering flexible schedules, including working from home or setting one’s office workplace hours, shows you want to please your workers in other ways. Offering supplemental life insurance or other voluntary benefits, which are 100% employee paid, gives workers new types of coverage without increasing your costs.

  • Provide Wellness Plans

Keep your health plan consumption low to help keep down future costs by encouraging participation in wellness plans. Discounted gym memberships, fun fitness-tracking competitions, and other ways to stay active during the work day are beneficial and cost effective. Encourage workers to take sick days to recover rather than infect others and incur greater health care charges. Ensure employees know healthcare costs are directly affected by how much members use their benefits. A healthier workplace reduces overall costs.

  • Outsource to IES

Let Innovative Employee Solutions relieve you of your healthcare issues by managing your HR administration and employee benefits package for contingent hires. You’ll lower your costs while skilled experts handle your HR and benefit needs.

Dealing with healthcare headaches doesn’t have to be on your list of daily activities. For help managing your company’s payroll and HR administration, get in touch with Innovative Employee Solutions today!

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