An effective health and wellbeing strategy involves providing a variety of benefits to your employees, which may include workplace health education and preventative measures for keeping your employees healthy and productive.
However, if employees do become unwell, it’s important that they have access to prompt, effective treatment in order to recover as quickly as possible. It also gives employees and their families peace of mind that they will be supported if the worst comes to the worst. Medical insurance remains the most popular employee benefit that global companies offer to all their employees.
According to the latest research, 84% of UK companies provide medical insurance to their employees, second only to the provision of life assurance. For many companies, medical insurance forms part of a suite of traditional core benefits that they have always provided to their employees.
Nevertheless, with 43% of UK companies having seen an increase to their health benefits costs in the past year, and only 11% who have seen a reduction, it has become ever more important that companies take control of their costs, and ensure that these benefits are doing their job in producing a healthier, happier workforce who are also aware of the benefits that their company is offering them.
In the UK, our health and wellbeing consultancy team structure, broker and continually review clients’ insurance benefits, ensuring that the right balance is struck between the employees’ needs and the needs of the business. For example, re-broking their core benefit offering allowed Bauer Media to save a total of £105,000 across their PMI, GIP and GLA policies.