If you’re on the lookout for ways to give your team the best while keeping an eye on the bottom line, health shares could be your answer.
Health shares are an innovative approach to healthcare that’s making waves in the world of employee benefits and integrating them into your benefits offering could be a win-win for both you and your employees.
Why health shares?
A health share is essentially a community of people who pitch in to help each other with medical expenses. Unlike traditional healthcare insurance, health shares are about people coming together, often with shared values, to support each other.
Why employers like you should take notice
- Savings: Who doesn’t like saving money? Health shares can be a more budget-friendly option compared to traditional insurance.
- Mix and match: You can be the cool boss who offers choices. Pair health shares with standard health plans and let your team pick what suits them best.
- Happy team, happy life: Show your team you care by providing diverse healthcare options. They’ll appreciate it!
- No network restrictions: Many sharing organizations do not have network restrictions. This means that you can see virtually any provider instead of having to pick from a list of providers that are included in the plan.
- Easy billing: Employees like having the ability to have their favorite sharing community billed and deducted by their employer. This makes billing easier for employees and makes it a great value add for the employee.
Why your team will thank you
- Kiss high premiums goodbye: With lower monthly contribution rates, your employees will experience more savings.
- No more billing headaches: Health shares usually mean less confusing paperwork and more transparency. Who wouldn’t want that?
- We’re in This Together: There’s something special about being part of a community that looks out for each other. Your team will feel it too.
How to make health shares happen
Let’s get down to business! Now that you know the benefits of adding health shares to the mix, here’s some steps you can take to smoothly integrate health shares into your benefits offering.
- Do your homework: Start by exploring different health share options to find the right fit for your company. Some things you’ll want to research and consider include eligibility requirements, what medical services are considered shareable, the process for submitting sharing requests, network restrictions, and more.
A good place to start is using our compare feature, which highlights overall ratings, pros and cons, to compare different health shares.
- Consider state laws and regulations: If you have a larger company, a health share may still add value to your benefits offering, however, you will want to consult with a professional about potential compliance implications.
- Teach and inspire: Get your team together for a chat about health shares. Help them understand the ins and outs of health shares.
Bringing health shares into your benefits lineup isn’t just a smart move; it’s a way to show your team that you’re thinking outside the box about their well-being. It’s about balancing costs with care and building a workplace where everyone feels supported.
