Are You Meeting Your Employees’ Emotional Needs When it comes to Healthcare?
How to help employees prepare for the unexpected.
Healthcare decisions are emotional. The unexpected illness or injury makes employees nervous, especially if they’re not likely to have enough cash to cover it. So, when your make decisions about the type of health plan you offer, find a way to meet employees’ emotional needs.
What Your Employees Want
Health coverage is employees’ top financial concern, after being able to cover day-to-day expenses1. When it comes to the protections workers seek, Millennials, Gen Xers, and Baby Boomers are similar. They want their employer to offer a health plan that gives them peace of mind. Peace of mind is more important to them than practical concerns like coverage and networks.1 So, employers forced to adopt a high deductible health plan may want to consider pairing it with an HSA that will meet their employees’ emotional and practical needs.
Provide Peace of Mind: Help Employees Manage the Unexpected
With Clarity’s Ready for Life HSA, it’s now possible to manage your bottom line and help employees feel at ease with their healthcare decisions.
At Clarity, we are excited to offer employers a unique and revolutionary product. It’s called the Ready for Life HSA. It’s a one-of-a-kind health savings account paired with a built-in payroll advance. Ready for Life’s payroll advance provides on-demand support when employees don’t quite have enough money saved to cover their medical expenses. Here’s how it works:
1. Your employee has a medical expense, but not enough money in their HSA to cover it.
2. No reason to panic! All your employee has to do is swipe their Ready for Life Debit Card.
3. Ready for Life kicks in with an instant, interest-free payroll advance funded by your company.
4. Your employee breathes a sigh of relief because the expense is covered without wiping out their bank account or using credit cards. Your employee gets help in their moment of need, without even needing to ask for it.
Ready For Life HSA combines all the benefits of a traditional HSA and with some Flexible Spending Account (FSA) perks – like on-demand funds access. The payroll advance can also be automatically integrated with your payroll vendor, simplifying the payback for everyone.
Ready for Life puts you in control. It lets you decide how much to advance your employees, who’s eligible, the terms of the payback, and what happens if an employee moves on from your company. And our platform makes it all simple to set up and easy to manage.
It isn’t just employees who benefit when they’re financially equipped to handle unexpected healthcare costs. Offering employees a way to offset the challenges and stress associated with a high deductible health plan can produce positive changes in the workplace such as reduced stress, increased productivity, and resilience during challenging times.2
Offer Peace of Mind
Don’t let the rising costs of healthcare and trending high-deductible health plans keep you from offering your employees the peace of mind they seek. When it comes to healthcare, make your company a more attractive place to work by offering workers the emotional security they seek. Employees love the peace of mind provided by Ready for Life.
1. https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/the-role-of-emotions-in-buying-health-insurance
2. http://scholarship.sha.cornell.edu/articles/749/
