Employers’ employee health benefits are just a formality : Survey
For employers' employee health benefits, over 42% of employees expressed an interest in the availability of ‘flex benefits’, where they get to choose their healthcare plans.
Employers’ employee health benefits are just a formality, revealed by the Health India survey.
All employers provide GMPs and GAPs to their staff as health and medical benefits. It was also mentioned to the candidates as an extra paid benefit by the employer’s during the recruitment and selection process. However, these plans are merely formalities regarding employee health benefits.
The Health Report of Corporate India 2023 states that the median amount insured provided by Indian companies is close to 3 lakh. Furthermore, the employers aren’t providing their staff with a wide range of healthcare options.
Fewer than 5% of businesses provide their staff with full healthcare alternatives, which may include telemedicine, insurance, and other health benefits. Furthermore, 42% of workers indicated that they would be interested in “flex benefits,” which allow them to select the healthcare plans that best suit their needs.
Furthermore, just thirty percent of staff members actively take part in healthcare efforts within their firm. Additionally, the survey’s results have shown the following:
- 67% of claims were made on behalf of a dependent of the employee.
- Employee telehealth is supported by the employer in 26% of cases.
- Less than 1% of companies provide OPD coverage to their staff.
- Merely 30% of the workforce take parts in the healthcare program offered by the employer.
Doctors are concerned about hazards associated with the corporate lifestyle, such as sedentary lifestyles, the spread of illness, and stress related to the job, since Indians work for more than thirty percent of their lives.
The employers are doing the right thing with their hearts. According to the survey, only 30% of Indians actually use a company-sponsored healthcare benefit, despite the fact that 60% of them think their bosses are concerned about their health.
Even worse, less than 5% of businesses provide full coverage that includes primary healthcare, insurance, and preventive care.
- The majority of workers believe their employer is concerned about their health, yet only about 30% of them actually enroll in healthcare insurance.
- Many workers feel that the provided health benefits are not sufficiently tailored to their individual requirements.
- Taking care of mental health and chronic ailments is still a big area where businesses can help.
In India, the prevalence of healthcare is rising due to employer-sponsored health coverage. They advised more than 3700 businesses on corporate healthcare strategies as a company in the employee wellness and health benefits area.
The business team examined the habits, adoption, and utilization of more than 3 lakh employees and their dependents, modeling data from more than 3500 employee healthcare policies. You can read the comprehensive report by clicking this link.
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