Offer your employees
Dual Choice
Typically, this is a
choice of an HMO and PPO or HMO and
POS. Instead of an employer choosing one plan for all employees,
dual choice lets
employees choose the type of plan
that best meets their needs and budgets. Employers generally pay
a portion
of the premium and the
employees pay the balance. How does
it work? Here are the ways:
- The employer pays for the lower cost plan and employees buy
up to the costlier plan.
- The employer
pays a set amount per month
or percentage of the premium for
every employee.
- The employer charges
all employees the same amount
and pays the balance, regardless of the plan each employee
selects. Employers are generally
required
to make a minimum percentage contribution
based on the cost of the lower cost
plan.
Need help deciding which combination of plans best suits your needs
and budget? When you obtain your
free quote, HealthInsurance.com provides a Cost Calculator to help
you determine
the contribution
formula that works best for you.
Raise your employees' deductibles, copay and contribution percentages
Employees should have a strong financial motive to be economical
when choosing providers or using medical services. This doesn't mean
an employee should hesitate if he or she is sick. It just means that
an employee should not needlessly use plan services. We all know
that if something costs a little more, we are more conscious of how
we use it.
Concentrate on preventive care!
Make your workplace a healthy zone. Encourage company exercise
programs or intramural sporting leagues. Develop prevention and wellness
activities. Make casual Friday into yoga or aerobic Friday. By keeping
your workers fit, healthy and relaxed, you will help avoid unnecessary
health care costs. (Not only that, you will probably notice increased
productivity, too.) You can further improve your environment by offering
healthy vending machine snacks, adopting a no-smoking policy (with
financial incentives to quit) and providing passes and discounts
to fitness centers.
Want to look at health insurance from your employee's perspective?
Here's a bird's-eye view ...
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