Health coverage is a key part of the investment companies makes in their employees.

Some of the research findings from across the globe state that:
• Paid vacation time (65%) and health insurance (62%) are the most commonly-offered benefits.
• Nearly quarters (23%) of full-time employees do not receive any benefits from their employers.
• Over half (55%) of employees say that health insurance is the most important benefit in terms of their job satisfaction.
• Childcare benefits are rare, with only 21% of full-time workers receiving paid parental leave. Just 8% receive some kind of childcare stipend.
• Millennials are more likely than other generations to prioritize paid vacation and overtime, and less likely to prioritize health insurance, indicating a generational divide on how benefits are valued.
• 52% of employees who aren’t satisfied with their benefits want more of a benefit they already have, and 14% want different benefits altogether

Happier and more secure employees are more productive. According to research from the University of Warwick, happy employees perform their jobs 12% better, while stressed, dissatisfied workers are usually distracted and don’t perform up to their full potential.

The top three benefits that make employees the most satisfied, according to Glassdoor’s study, are:

Health insurance

Health benefits are a top priority for employees, it should be a top priority for you as well. Offering it can help with recruiting and entice them to stay longer at your company.

Savings for employees

When employees buy health insurance on their own, they have to use post-tax dollars to buy it. That is, they make money, the government taxes that money, and then they take the remaining amount to buy what they need.But when employees buy health insurance through a group plan, they pay for the insurance with pre-tax money. That can save them on their health insurance premiums.

Providing health insurance helps boost employee productivity

A study from MetLife has found out that 60% of employers say offering health insurance has led to higher productivity levels.

As an employer, you want your employees to focus on being their best productive and successful selves at work. Worrying about health insurance drains their energy and time. As you know, health insurance can be a big if proper knowledge and information are not available.

Providing benefits for full-time employees shows that employers are invested in their employees’ health and their lives outside the office. For employees, benefits provide the springboard they need to do their jobs well.

Offering a quality Health Insurance plan is Key to Employee Job Satisfaction, as when they are being awarded facilities for their pain points and have fewer things to stress about the employs tend to perform better with more passion and dedication since their family is secured.

For instance Companies in the United States with 50 or more full-time employees must provide health insurance, according to the Affordable Care Act (ACA). However, businesses with less than 50 employees are not legally required to offer insurance, due to which 38% of full-time employees don’t have a health insurance plan through their employer.

According to a survey, over half (55%) of full-time employees say that health insurance is the most important benefit they receive.

It’s not a surprise that so many employees prioritize their healthcare benefits, since an average visit to the emergency room costs over) PKR. 2500 to PKR. 3000 per visit, imagine the cost of any emergency procedure or an accidental cost if the inbound hospital care is needed in a certain scenario.

Stated below are the views which people have on the importance and impact of health insurance being provided by the employer to its employees, which indirectly acts as a catalyst to their better performance.

“Employees are concerned because both medical treatment and health insurance are so expensive,” said Chris Wolpert, managing member of Group Benefit Solutions, a group of health insurance and benefits consultants in Seattle.

Companies should provide comprehensive health coverage, though, even if they’re small enough that they’re not legally required to do so. Lisa Oyler, human resources director at Access Development (link is external), a private discount network popular with employers, asserts that health coverage is a key part of the investment companies make in their employees.

“If you offer health insurance, it will benefit you because you’ll have more productive, healthier employees,” she said. “People are a valued asset. Offering these benefits and educating employees on how to utilize them is an investment in workers and their long-term health.”

The questions that you should be asking/having the information about health insurance provider to maximize the value you receive for the money you have to spend and ensure the health insurance you purchase meets requirements. Also, be prepared to share your business goals for sponsoring employee health insurance.

Questions important to get answered before finalizing your insurance policy and the areas to cover with each provider when considering your options:

Cost: What is the cost per employee, including service charges and account fees?
Customer service: What kinds of support with you get as the health plan administrator?
Employee support: How much and what kind of support will they provide for your employees? Will they answer questions about healthcare coverage options?
Benefits of enrollment: Will they help you manage open enrollment paperwork? Do they have a website for employees to sign up?
Accessibility: Will you have a dedicated rep, or do you get the feeling they’ll disappear once the contract is signed? What support can you expect from the company?
Reliability: Do you see any complaints online about the company? Do the online reviews concern you?

Steps to acquire employee health insurance hassle-free

Compare prices: If it sounds too good to be true, it probably is. How quick was the insurer in paying claims? Are the claim processed as promised by the insurer? Do the services and hospital list include all the desired requirements? Employers can get to know all this much other important information by visiting Smartchoice.pk, the company primary aim is to provide information that is clear and unbiased so the procurement of insurance is transparent and the decision making in informed and at the same time educated.

Smartchoice.pk strives to make this process easy and swift, as it believes that financial literacy among the masses should be inculcated to reap better fruits of their investment.

Check the plan and the rating: Once you decide you need/want a certain insurance plan from a certain company, you can also check their rating at our platform for instance Jubilee has A++ rating that shows its capacity to follow-up with claim quick and swift means “their claim paying ability”, as with Adamjee and other companies plans offered at Smartchoice platform.

These ratings and plans indicate the services offered in the plans and the financial strength and ability of the company.

Cost Varies by Type of Health Benefits You Provide: Different coverage plans have varying benefits as per the cost you pay per plan, for instance some plans can have an add-on maternity benefits if required, you can check all these benefits very explicitly mentioned on Smartchoice.pk, it has the room type, the ambulance charge covered, number of days, details about pre-and post-hospitalization costs and any add-on cover that you can purchase for your employees.

Pros of Providing Small Business Health Insurance

Here are some great reasons to provide health insurance to your small business employees:

Employee retention: Employees will be less tempted to change jobs for work that provides health insurance; plus, they won’t want to quit and give up their coverage.

Employment brand: Your brand reputation will increase as employees note in online company reviews that you take care of your staff by providing benefits as a health benefit is one of the major attraction for many people and it reliefs them of stress.
Get healthcare for yourself: When you offer health insurance to your employees, you often have the option of purchasing it for yourself and your eligible dependents as well.

Health benefits make your employees happy: According to a survey by Glassdoor, employees said health insurance is, by far, the most important benefit they receive from their employer. That’s why employers should offer health insurance as their first company benefit, and then add on additional benefits over time.

Employer workers compensation: Paying for health benefits instead of higher salaries can save you money because your employees may prefer benefits over salary as well.
And there you have it. From building a healthier, happier team to saving money, there are many reasons to take the plunge and offer health insurance to your team. Offering health benefits signals that you care about your team, ultimately building a culture of trust, care and loyalty to your business.

Conclusion:

According to a survey by Aflac, 72% of small business employees say an improvement in their benefits offerings would make them happier. Setting up employee benefits doesn’t have to be complicated or even expensive, and will improve your ability to hire and retain employees. Offering benefits is one of the small business problems that, once you get it right, can improve your bottom line by reducing employee turnover.

Health benefit costs are still rising at two times the rate of wage increases and three times general inflation, making this [cost] trend unaffordable and unsustainable over the long term. So offer health insurance as a primary incentive and show that you care….

You can get more information for individual and corporate plans from Smartchoice.pk, your one-stop shop for all financial solutions.

Khurram Zahid

The post Employee Medical Insurance: A No.1 Benefit a Company Can Offer appeared first on Smartchoice.pk.

This is only one precedent. There are several different factors, for example, pollution, natural disasters, and age of waste are gradually negatively affecting your health. You may practice consistently, pursue a clean eating routine or practice yoga however it won’t make any visible difference if the air you’re breathing is breaking down in quality. At some point or another, you may experience the symptoms of diseases, for example, asthma, body torment, headaches or different clutters, for example, heart attack and malignant growth. In worst case scenario you’ll be hospitalized, and for this situation it is smarter to have a medical coverage plan set up.

But on the other side of the story, medical coverage isn’t justifiable, and sometimes it vary policy to policy that what it includes, particularly on the other-side that you never become ill. With this heavy month to month cost and the other miscellaneous expenses you might consider the amount you truly need inclusion.

Numerous individuals in their twenties feel they are solid enough to avoid medical coverage.When you start visiting a doctor for minor check-ups and it turns out that you need a major treatment of some disease and that too urgently,what will you do in that case? and then it might appear to be a smart thought to cut the medical coverage cost totally from your financial plan, Jubilee General Insurance health plans are affordable yet comprehensive.

You can pay your doctor each time you visit and can buy the prescribed medicines or treatments but on the other side ,  this could be exceptionally troublesome in the circumstances where  you have a genuine sickness, a mishap, or a continuous medical problem on the grounds that the expenses can turn out to be extremely expansive, in all respects rapidly. This is the reason it’s fundamental for everybody to dependably have some type of medical coverage.

Medicinal crises are over the top expensive. In the event that you have the mishap of experiencing a restorative crisis without protection, it is anything but difficult to wind up with a devastating measure of medicinal obligation, and apparently no chance to get out of the wreckage, to get yourself out of the mess with relaxed recovery get Jubilee General health Insurance Plan.

On the major ground that you take great care of your health it’s difficult to perceive any reason why you’d truly need Insurance. In any case, missing that last stair at home and disjoining a lower leg, or having a mishap on the ski sight and breaking an arm could cause damage that costs you a large amount in doctor’s visit expenses, and it can rapidly move higher. At this point in time you need medical procedure or any sort of progressing recovery. Crisis medical procedures, for example, an appendectomy can be pricey .

You will be unable to work while you’re laid up, and that implies you could miss out on pay too. Indeed, even with insurance, you may think that it’s hard to pay for medical services costs in these occurrences. It is extremely difficult to pay for medicinal expenses without medical coverage, particularly in worst case scenario that you are registered with an emergency clinic even simply medium-term.

Deterrent Care and Early Intervention

When you don’t have Insurance, you may abstain from getting treated for minor issues which can grow into more serious issues rapidly. Preventive prescription and brisk treatment are the most ideal approaches to maintain a strategic distance from costly emergency clinic remains.

If you have insurance at that point, you won’t have to stress over this to such an extent. Furthermore, In worst case scenario ,you put off going in for treatment and end up building a serious medical condition, you may have a troublesome time discovering medical coverage after you have not had any for such a long time.

Which Plan Fits Your Needs?

Medical coverage isn’t an extravagance; it’s a need. There are numerous different things you ought to abandon before you abandon medical coverage.

On the off chance that you need insurance yet feel uncertain about what options work for you, there are a few inquiries you can reply to discover.

How’s your health? 

Is it true that you are healthy right now? do you see a doctor consistently and do you take part in any dangerous games or occupations? Like different types of protection, your insurance needs are depended upon your level of hazard.

How often do you go to the doctor?

The importance of health insurance is also driven by your frequency of visiting a doctor.It is also determine by which doctor you are visiting and how many times you have visited this same doctor and pay in cash? Your problem and your treatment will tell your story and it’s conclusion it’s self that why health insurance is worthy for you? It will be Lot worthy if you visit your doctor for the same problem and yet again the problem is foreseeable and you should do something about it in terms of saving the cost now.

What are your priorities? 

In the event that you see the specialist frequently, you’ll presumably need an arrangement with lower copays and deductibles. On the off chance that your month to month costs are now stressing your paycheck, maybe you’re in an ideal situation with an arrangement that has lower month to month premiums. High-deductible plans can bring down your premiums, and in the event that you don’t go to the specialist regularly, it doesn’t bode well to pay huge premiums for a low-deductible arrangement.

What are your coverage needs? 

Count in the majority of the accessible insurance plan choices to those that fit your requirements, at that point delve into the subtleties. While the least expensive arrangement may catch your eye, it may not give as much esteem per Rupee as some different plans. Just to avoid all the hassle, you can simply compare all the latest policies on Smartchoic.pk that will help you in saving time as well as saving your money and get you the best offer.

Have you gotten an expert opinion? 

Some people find the whole experience of health insurance shopping overwhelming, and there are many insurance agents that can help you sort through the options. These agents spend their days immersed in insurance and can make quick work of finding your best-fit plan. You can always call the smartchoice representative and build up your understanding of the policy while comparing it on the same platform.

Khurram Zahid

The post Is Health Insurance Really Worth It? appeared first on Smartchoice.pk.

It is known for a fact that around the world women are more susceptible to fall to Cancers, that can not only be life threatening for a person, at the same time it is huge emotional and financial blow that causes a person an additional trauma of not being able to meet the expenses , some of the basic expenses that causes the family to suffer begins with a mere visit to an oncologist, surgeries, chemotherapy, radiation, medicines and many other known unknown expenses that comes our way when such situation arises.

Being a woman is a beautiful feeling, the endurance and patience they carry is the epitome of grace but at the same time they are fragile and can be easily hurt due to smallest thing happening around them.

Being a witness to this situation first hand, it was shattering to see when my aunt was diagnosed with breast cancer, it was something we had heard and its impact that it has on families but when experienced personally cancer is disease that does only effect your blood cells yet is also affects our confidence, our family the people around us and primarily the strain it causes breaks a person in every possible manner.

The very first thing we usually do is to see doctors and not only one but minimum two hoping and praying that the first one and his opinion would be all wrong and everything shall be okay, yet when the second doctor also confirmed the latter.

We went into full time schedule of hospital, home, hospital, our world revolved around the doctor and the things he prescribed for the procedural activities, at that moment everything in our life became secondary, our whole life went on hold like a movie that had paused without us knowing anything when it shall resume to normalcy.

The one thing that was source of relief in this time of strain and pain was that a year back she had gotten Jubilee insurance “HER CARE” plan, at that time it seemed like an accessory an additional card in the wallet, even an undue liability that she had imposed on herself without having any indication of it coming to use, little did we know that it’s going to be the primary source of quality care in the near future.

The premium she had paid the previous year seemed a little price to pay for the amount that was being spent day in and day out for the treatment expenses, leaving us only to be concerned about the well being of my aunt only as Jubilee insurance with its specialized women centric Plan took care of the rest.

Along with the policy coverage, we were also provided with additional services to make this stressful period easier, some of the add-on services were out-patient services, facility of second opinion before reaching to conclusion and 24/7 medical hotline for any emergency that may arise anytime keeping the critical situation at hand in understanding.

The incident like this my family made me realized and opened my eyes to a fact that Insurance plays a vital role in economic development by helping individuals and families manage risk and deal with uncertainty.
Some of the BASIC reasons why women should put “HER PLAN” on their bucket list:

You need 5-10 times your annual salary in coverage

It is recommended by most experts that buying a policy that’s five to ten times your annual income, is a good place to start.

 You can buy “HER CARE” coverage online

Women do just about everything online, from grocery shopping, to ordering a car service. Until recently, however, buying insurance was anything but online. It usually takes several weeks and required paper applications, phone calls, doctor’s visits, emails, and faxes – all with no promise of coverage, with this plan of Jubilee insurance you can Place your order for “HER CARE” plan online.

No income doesn’t mean “NO” insurance

Many assume that the only family member who needs insurance is the primary breadwinner, but they couldn’t be more wrong. Not only is being a stay-at-home mother or wife one of the most demanding jobs in the world, but the cost of replacing all the work they do is quite significant, according to an analysis all the work a stay-at-home mom accomplishes equates to a big sum of money if your family had to outsource it all, so a person who manages the home, take cares of the day to day need is considerably important and needs a customized Plan that helps her being around your family for a longer period of time and can be assured quality health care.

Not only is insurance affordable, it’s even more affordable for women

Women often have more expenses than men when it comes to clothing, cosmetics, and self-care, but they don’t have to pay more for a plan that solely is for “HER”, premiums starting from as low as PKR 3,900 to the sum insured 750,000 that provides her cushion in the face of a medical crisis.

Women’s needs and preferences differ by segment and life cycle events, requiring insurers to tailor products and services keeping the need and importance of it Jubilee insurance has introduced for the first time in Pakistan “HER CARE” that celebrates women by providing specific critical illness policy that solely covers illnesses common among women.

While there may be plenty of plans that cater to the general population of men and women alike, there are as many reasons as to why women need a specific plan that’s personalized to their unique needs.

Khurram Zahid

The post “Jubilee HER CARE Policy” A Great Defensive Game Plan Against Medical Crises for Women in Pakistan appeared first on Smartchoice.pk.