Healthcare Solutions: Finding The Right Program For Your Team

When you’re running a small business, finding health insurance for you and your team can prove quite stressful. Most insurers in the country don’t provide coverage to smaller workforces. And if they do, it’s rarely priced reasonably. This can make it significantly harder to shop for a policy that both fits your needs and budget, putting you in a tight box where you don’t have a lot of options.

Some businesses might choose to take what’s immediately available to them, despite having to overpay. This is, as you might expect, not a wise decision as these are the same businesses that are likely to change policies frequently, which can end up costing them more in process.

When you’re just starting your business, the last thing you surely want is for expenses to pile up. You always want to be on top of what you’re spending on and making sure you’re staying within your allotted budget. However, you cannot forgo health insurance coverage just to save even though it’s not mandatory. Doing so can hurt your team’s overall productivity and your competitive advantage in acquiring and retaining the very best talent.

You might be thinking that your situation became even more stressful than it was earlier. On the one hand, you now know that you can’t do without having health insurance coverage. On the other hand, you know that you’ll likely have to cough up a huge sum to have it.

So what do you do?

Finding the right health insurance can be tricky, but it’s not impossible thanks to companies like Purple Cow, who are committed to bringing affordable insurance options to growing businesses and ensuring employees are financially secure.

Purple Cow provides well-rounded and comprehensive healthcare programs as part of its employee benefit package, which is designed for the needs and budget of small- to medium-sized enterprises.

Here are just some of the benefits you can enjoy:

• You can avail of a no-cash-out benefit if you see accredited partners, or reimbursement at the accredited rate if you go to non-accredited doctors, hospitals or clinics.
• You have access to the BIG 9 hospitals and clinics in the country, including Makati Medical Center and St. Luke’s Medical Center, to name a couple, as well as Healthway laboratory services.
• Your benefits are on top of PhilHealth, expanding your overall coverage.
• You have 100% coverage up to your maximum benefit limit for pre-existing conditions, congenital conditions, and special procedures, with a minimum of 5 regular employees.
• Your dependents receive the same treatment in terms of rates and benefits as you.
• You can be part of a pool system that determines the rate of your premiums depending on your usage. For instance, if you use your benefits sparingly, then chances are your premiums are either going to stay the same or possibly become lower. You’ll never feel like you’re paying for something that you’re not actually using.
• You can add à la carte optional benefits to your program, such as dental and annual physical exams. These can be given to your high-performing employees, for example, as part of a reward system of sort.
• You have the option to add telemedicine, which offers unlimited consultations and 24/7 access to doctors who can provide instant medical advice.
• You get all-inclusive Terms and Conditions, consisting of an executive check-up, reimbursements, maternity benefits, among others. On top of this, it waives most of the exclusions in the standard list of exclusions.
• You can enjoy a hassle-free and easy sign-up process, which typically takes only 2 days. All you’ll need to submit is a master list, a signed special endorsement and letter of guarantee, along with a copy of your SEC or DTI registration. No cut-off date. Once your sign-up is approved, your coverage immediately starts.

Of course, this is just one suggestion. It’s ultimately up to you as a business owner or an employer to choose what policy best fits your team. Don’t forget that as a small business, you also deserve affordable healthcare just as much as corporations. Do your research, weigh your options, and consult with a financial advisor, if there’s anything that’s confusing.