The Executive Order That Will Define Your Employees’ Healthcare
The presidential executive order signed on the 18th of October, 2017 is a swift and sudden move that many were not expecting. Although talk of legislation has not ceased since the elections, the healthcare industry expected a lull since the Senate failed to pass a bill.
But with the executive order now signed, insurance companies have newfound freedom to create more policies, providing employers with the option to choose from many different programs.
Finding the right fit
Tailor made solutions may work for larger organizations, but SMEs need to find the right type of policy that will offer the best coverage for their employees, and create an effective cost benefit.
Since the order has lifted some of the restrictions set forth regarding pre-existing conditions, it is important to consider coverage and insurance benefits carefully before opting into a plan that has the potential to affect countless employees and their families.
The right information at the right time
Just as with any other benefits scheme, employees need to be given all the information available so that they can make an educated guess. For some, extended coverage including family benefits might be important, while others may be willing to take a less robust policy to save money.
Exercising technology in dispensing information
Organizations that have a centralized HR portal with role-based access and dedicated credentials for every employee, can make the best use of the platform to dispense all pertinent information.
The self-service login works on various levels of the communication handshake. HR is easily able to provide updates and employees can be notified instantly. The portal can also be connected to existing ERPs for immediate enrollment, thereby slashing hundreds of man hours from HR and eliminating paperwork from a complex process.
When discussing information dissemination, it is also pertinent to discuss the queries your workforce may have during enrollment. A simple helpdesk can address frequent questions and also provide intelligent responses with a little bit of learning.
The final word
While the PEO awaits a formal vote, employers are still obliged to retain insurance coverage for their employees. From the most basic to very specific coverage, organizations can generate the right information for their employees and leverage technology for a smoother transition, better use of resources and lesser paperwork!