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Five Ways to Know if Your Health Insurance Package is Not Working for You

My Doctor Finder
March 21, 2018

Most large companies in the Philippines provide health insurance for their employees. Depending on the size and budget of the company, some even provide health insurance for up to two dependents, free of charge. Because of this, many employees take health insurance for granted, and many companies wonder if it’s a benefit worth maintaining. Of course, corporate health insurance in the Philippines is a major investment. Assessment, implementation, and monitoring all take time and resources, and employers want it to be worth the expense. Here are five ways to know if your health insurance is no longer working for you.

  1. Your employees are taking out too many medical loans.

One quick to find out if your health insurance is working is to check in with your employees to see the kinds of loans they are taking out. If a notable number of your employees are taking out medical loans, it is a good idea to call them in and inquire about which conditions or expenses are not covered by your company’s insurance. There’s a good chance that your company is no longer providing adequate support for them, and it might be time to make a change. One good way to compensate is to provide reimbursement for some medical expenses.

  1. Too many employees are filing for extended sick leaves.

Similar to the first indicator, a large number of extended sick leaves may indicate an inadequate health care program. It could be that the work environment is too stressful, resulting in illnesses, or that the company has an unhealthy culture when it comes to food and drinks. Many companies provide free coffee and sugary drinks to keep employees healthy, but this may be bad in the long run. If this is determined to be the root of the problem, it would be best to explore business insurance companies in the Philippines that also provide newsletters on proper diet, invitations to fun runs, and access to group exercise sessions. Alternatively, you can initiate your own programs. These programs are usually led by the human resources (HR) department, although some create ad hoc groups made up of volunteers.

  1. Your employees aren’t using their health care insurance at all.

The opposite of the first two items stated above is when too many employees are not using their health insurance. This can happen if your employees are predominantly within the age group that does not need a lot of medical treatments (i.e., in their twenties), or they have another health care provider that they rely on more. In that case, it would be a good idea to redirect the budget elsewhere or provide different package options for different age groups. Some business insurance companies in the Philippines also provide this, so it would be best to get in touch with an HR expert for it.

  1. Too many employees are leaving.

Of course, there may be various reasons for this, but it is no secret that employees who know their worth will only be convinced to stay if they are getting the benefits they need. This is especially true for those with new families or additional dependents. Training new employees is infinitely costlier than retaining old ones who already have the experience and know-how. If you want to retain your employees, a great health care package can show them that you are willing to go the extra mile.

  1. Productivity is low, and your bottom line is not being achieved.

Again, there could be various reasons why you are not reaching your targets, but if enough employees are stressed and worried about their medical conditions or bills, they could be distracted from doing their best at work. If you suspect that your health care package is not achieving its desired effect of motivating employees, it’s best to conduct a survey to find out just what can be improved. Remember, a little goes a long way, and the less your employees have to be worried about, the more they can contribute to your company.

Corporate health insurance in the Philippines is a robust industry that provides many options for all kinds of businesses and employee needs. If you think that your current health care package isn’t cutting it and have said yes to more than one of the points listed above, then it’s time to sit down with your HR department and talk about it. A town hall meeting is also a good idea to find out what your employees want and need from their health care package, and what other benefits you can provide to make sure you attract and retain the best employees. In the long run, this can actually make the difference for your business and secure your place as one of the top companies in the country.

And because we want you to have the health plan that fits you, Maria Health wants help you make the right choice. From hospitalization to consultation and even emergency ambulance service, Maria Health has partnered with top health insurance providers in the country to provide you with the best options. And the best part? Maria Health is always free.

Visit Maria Health at www.mariahealth.ph today and get simple, easy access to the healthcare plan that fits you.