Imagine an employee benefits plan as a seesaw, with benefits on one end and employees on the other. If employees use too many benefits, the balance tips unfavorably. But if they don’t have enough coverage, they struggle to stay healthy.

As an employer, how can you keep this seesaw balanced? Let’s look at three real-life examples we researched and compiled to see how they tackled this challenge

Example #1: Managing Massage and Other Medical Spending

Problem: A company noticed a surge in spending on services like massage therapy, driving up their benefit plan costs.

Solution: Instead of cutting these services altogether, they created a separate spending account specifically for massage claims. Employees could claim up to $500 per year, with the company covering 80% of each claim.

Results: This not only reduced the number of massage claims but also made employees more mindful of their spending.

Example #2: Offering Orthodontic Coverage

Problem: A company wanted to provide comprehensive orthodontic coverage but didn’t have enough employees to sustain their current plan.

Solution: They set up a separate spending account solely for orthodontic claims, bypassing the minimum employee requirement for traditional coverage.

Results: This allowed the company to maintain the coverage they wanted while controlling costs effectively.

Example #3: Covering Medical Cannabis

Problem: Many insurance plans didn’t cover medical cannabis, but some employees needed it for various medical reasons.

Solution: The company created a spending account exclusively for medical cannabis purchases, ensuring access for those who needed it.

Results: Employees could access medical cannabis if required, without the company footing the bill unless it was used, thanks to the flexible nature of the spending account.

These examples show how creative solutions can help employers provide valuable benefits while managing costs effectively. You can seamlessly choose Wellbytes, where our team of dedicated and empathetic consultants is ready to assist you. Together, we’ll craft a customizable benefit plan tailored to your budgetary needs while addressing the healthcare preferences and aspirations of your employees.