Preventative Health

During the holidays the team spent some time in New York. Meeting up with a former client who has relocated there, our conversation moved to the topic of health care. He talked about the differences in health coverage between his US firm and his experiences in Singapore and he mentioned that, while the coverage in Singapore was pretty extensive when something goes wrong, there was no coverage for things like physical exams, cholesterol checks, or other preventive measures. His policy would spend big bucks to fix things but not small bucks to prevent them.

As you look for the best health care options for your company and think about any changes you want to make in 2018, consider insurance plans that encourage prevention rather than just responding to illness. Think about it: if someone is being treated for a disease or some preventable condition, that’s time they are spending away from work. It’s also generally more expensive than preventative measures. Look for policies that support things like smoking cessation classes or gym membership subsidies. At the very least, make sure they cover regular checkups.

Somebody once asked at one of our sessions why health care should be an issue that employers address. It’s a fair question, and it would be easy to just say “that’s just the way it is,” but as an employer, you do have an interest in having your employees at work rather than out sick or in the hospital. Offering effective health coverage helps with that, and so to maximize that help, try providing coverage that encourages health care before something goes wrong instead of just after.