Health insurance: is it worth offering this benefit?

Health is the biggest cause of concern for 42% of the Brazilian population, according to data revealed by the CNT / MDA . Given this reality, many companies are betting on health insurance as a way of attracting and retaining talent .

Since this benefit, acting as a supplement to salary, allows employees greater security in relation to their health and well-being. Reducing, for example, the rate of absenteeism and turnover .

The health insurance has as premise to work as a cover for medical , hospital or dental expenses for employees. Through this benefit, then, the employee is reimbursed with his expenses.

In fact, this is the main difference between health insurance and health insurance. In this article we will talk about the main advantages and disadvantages for companies that offer health insurance. Check out!

Health insurance x Health plans

In theory, ANS, at least in terms of registration, makes no distinction between the two modalities. However, in practice they are different.

The clearest point that differs from them is the character of repayment. While the health plan covers expenses in certain hospitals, laboratories or categories, depending on the scope of the plan.

In health insurance, employees have greater freedom to choose their doctor or specialty in question. As it does not have an accredited network, as in health plans, health insurance covers the insured person’s expenses based on their choices.

In that case, you just need to present the invoice for the refund to be made.

In addition, health insurance offers a referenced network, with health service providers paid for the insurance, which covers all the insured’s expenses without needing to present an invoice to get reimbursement.

The advantages of health insurance

Health insurance has several advantages that differentiate it from health insurance. Among them we can highlight those mentioned below.

 

Less waiting time for medical care

Waiting time is one of the main problems for those who activate their health plan. Whether to authorize and cover an exam, procedure or hospitalization.

With health insurance, assistance is faster since the insured has the option to choose private services.

In this sense, companies that offer this type of benefit, contribute to eliminate concerns regarding support when the employee becomes ill. He knows that with the benefit, access to your well-being is guaranteed and reimbursement as well.

Without having to schedule appointments months in advance and even aggravate health problems because the health insurance does not cover a certain procedure.

 

Freedom of choice for doctors, hospitals and laboratories

It is common for health plans to have an accredited network and the insured can only use clinics, hospitals and laboratories that are within it. In health insurance, this reality is different and there is freedom of choice in this regard .

As there is a refund policy , the insured does not depend on a fixed network to trigger any service. He can choose one of his own and then request a refund. Insurance tends to make employees happier and more satisfied.

Not only in the sense of greater freedom of choice, but because they will feel more valued by the company . Recognizing her concern for her health and well-being without imposing limits on the choice of a trusted professional.

 

Exclusive and personalized services

While many companies opt for health plans, which have a service common to all of the organization, with health insurance there is a greater exclusivity in the coverage modules.

According to ANS, in the case of health insurance, there is a greater facility to adjust the benefit according to the needs of each individual. Thus, in addition to the employee having better access to health services, he can be treated as “unique”.

This customization makes it easy to set up a coverage service that caters to individual policyholders, without having to create something that is common to everyone.

Greater engagement of professionals

A Harvard Business study showed that well-being and health directly impacts professional engagement. In addition, healthy employees are more agile in completing tasks. 

We have already talked about the importance of health in the professional environment in the article “5 ways to promote health in companies” .

Thus, health insurance becomes a major stimulus to attract and retain new talent in the organization. This is because in the current market, the valorization of well-being is one of the priorities of most professionals.

Therefore, health insurance can be an excellent attraction and a differential to keep employees healthy and happy.

 

Reduced absenteeism due to health problems

A high rate of absenteeism can cause a drop in productivity, poor quality of work, high turnover and overload of employees. In this sense, the health plan appears as an alternative to reduce absences.

This is because good insurance makes the employee recognize the company’s concern for their well-being.

And satisfied employees are less absent from work and feel happier because they know that if they need to, they will receive all the necessary support from the health insurance provided by the company.

Not to mention that with the absence of health insurance, employees can increase their number of absences since they will have greater difficulty in achieving quality treatment by SUS.

Thus, it can generate a recurring health problem and absenteeism ends up becoming routine.

 

Tax deduction

Health insurance can also increase the amount of the refund and even reduce the amount of tax payments. Thus, the tax deduction is one of the benefits, both for individuals and companies, that insurance can provide.

This form of tax incentive, generated by medical benefits, places health insurance as an advantage even in relation to tax burden benefits.

It is important to note that only the net expense (deducted by the refund) that can be deducted from the income tax.

Disadvantages of health insurance

As with any type of benefit, health insurance also has some disadvantages for the company and employees. Meet some of them below.

  • Grace period (may last up to 3 months);
  • Costs (depending on coverage, expenses can be high);
  • Exclusion of some types of illness from the contract;
  • Co-payment, which occurs when the insurance does not cover the full reimbursement amount due to the use of doctors outside the network.

Concern about health became recurrent

The concern with health and well-being is recurrent. Considering this scenario, health insurance appears as an extremely differentiated benefit to meet some of the main needs of employees, such as keeping health up to date.

In comparison to the health plan, health insurance even offers different advantages that can benefit the company and its employees.

Throughout the article we highlight some of them, such as reduced absenteeism, freedom to choose the hospital, clinic and laboratory, in addition to tax deductions and greater engagement by professionals.

Therefore, considering health insurance as a differential in attracting and retaining talent can put the company ahead of competitors.

A final point and no less important, is that the implementation of an effective model requires planning and assessing the needs of each professional.

So that a service is hired that meets the needs of each one.

 

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