Employers say price is important, but aren’t making the most of the options available to them when it comes to healthcare for their staff, says Jelf Employee Benefits.
In research conducted by Jelf Employee Benefits at a recent seminar, the majority (81%) of companies said that price is a principle factor when they carry out their annual review of healthcare policies. The service they receive from the intermediary is seen as much less important.
However, Jelf Employee Benefits says this demonstrates that employers aren’t appreciating the true value of good intermediary service. Solutions are available that will help employers reduce and/or control costs, and intermediaries can provide the specialist advice to help employer’s locate these savings.
The same survey showed that employer awareness of a new tool in the healthcare kitbag: Corporate Deductible, was low, despite the option being available since 2010. 75% of respondents surveyed said they wouldn’t be making use of corporate deductible, or weren’t sure if they would. And only 34% believe it will help control costs in the healthcare market.
Steve Herbert, head of employee benefits strategy for Jelf Employee Benefits says: ‘It’s this kind of area that really highlights the value of good advice from an intermediary. The corporate deductible solution has been available for some time now, and whilst not suitable for all, intermediaries worth their salt are discussing all options with their clients to find the most suitable solutions and lowest cost. Savings are there to be made, and this is a time when the relationship with the right intermediary is everything.’
