Health and Lifestyle

As an employer, are you spending huge cost on medical insurance agencies?

Dr. Veena Madhankumar

Apr 1, 2017 — 2 min read

How companies can save the cost spend over employee insurance agencies?

The growing need to take care of employees has led to an increase in the number of benefits offered to the working force of the company. Several benefits both monetary and health are meticulously calculated to ensure that the staff has all the amenities to satisfy them. House rental allowance, phone bills, insurance coverage, are some of the famously offered benefits to the work force. While they are practical and necessary benefits, the company endures tremendous cost to provide these amenities. Insurance, for example, is one of the costly expenses for the enterprise. As the number of employees grows, the cost increases for the employer.

How can companies save the cost spend on insurance agencies?

1. Work a better deal with insurance agencies

Most often, insurance agencies have tie-ups with companies for insurance policies. While partnering with these organizations, companies can work out an agreement that is more economical and beneficial to the employees. This way, the company offers the policy that protects the health of the employees at the same time, allows them to keep tabs on the cost incurred.

2. Find the best premium plan

While insurance is taken for the well-being of the individual, insurance agencies often try to sell a high premium plan to the customers. Companies must have eyes and ears open to such ideas and work out the best insurance premium plan for the employee. Unless and until there is a particular need to invest in a high premium plan, companies must be careful with their choice of insurance investment to avoid higher rates of premium. A simple way to select insurance plans is by taking medical second opinion from a healthcare specialist. This helps both the employee and the employer.

3. Offer other healthcare benefits

Another alternative to reducing insurance cost is by providing other health care services. Online healthcare portals including iCliniq offer exceptional healthcare second opinion at the click of a button. This way, employees are allowed to utilize medical facilities including medical consultation at the click of a button. Alternatively, they can keep tabs on their health without spending a lot of time and energy on traveling to the hospital.

4. Split the cost of insurance with employee

Incorporating medical opinion from doctors, companies can discuss the possibility of sharing the insurance cost with the employee. If this works for the employee, both the parties will be able to rejoice on the healthcare option provided by the company as this benefit was used arrived at after considering an expert’s opinion. An easy way to gather medical second opinion or recommendation is through using online healthcare portals like iCliniq as they offer best medical advice effortlessly.

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