A Little Less Complicated
Staffing Employee Benefits and the Value of Telemedicine
The staffing industry is in a more complicated employee benefits game with the passing of the Affordable Care Act. A lot of focus has been on compliance and setting plans up so employers can avoid the hefty fines for not having proper coverage. We’re have moved past the implementation phase and the market and coverages have matured significantly since 2015. Now, the important question is how are you going to manage it?
Voluntary benefits have been a hot trend for employers wanting to offer more while paying less (or nothing) for the coverage. These benefits provide opportunities for employees to take advantage of group rates and utilize the ease of a pre-tax payroll deduction.
So you’re questioning how voluntary benefits help you manage that new plan you have? It’s simple! Most staffing companies have put some kind of self-funded Minimum Essential Coverage (MEC)/Minimum Value Plan (MVP) in place. These plans are great for the staffing industry, but there are dollars on the line. Your dollars are on the line. Also important is the happiness and well-being of your employees. Everyone is offering a plan now so how is yours different?
You probably found that you had little or no participation in the MVP plan you offered. So what are your employees going to do when they get sick? The preventative coverage offered by a MEC plan will not help them when they have an ear infection. This is where Telemedicine comes in. You can now offer Telemedicine on a completely voluntary basis. As an employer, you then give your employees the opportunity to “see” a doctor when they’re ill, and it’s completely paid for by them. If the employee is part of your MVP plan, this also keeps the cost of service down by encouraging use of the Telemedicine instead of a primary care visit, or worse, an unnecessary emergency room visit
We also have MEC plans that have beefed up coverage that would include true virtual primary care. As the industry struggles to attract and retain these benefits can be a differentiator.
In addition to offering some sick coverage (pun intended), you’re also providing a fantastic and unique benefit to your employees.
*Note: This post was updated on 11/20/18 to reflect ACA updates.
- The Power of Voluntary Benefits
- MEC and MVP Plans Take the Stand for Staffing Companies White Paper
- Human Resources E-Book
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