“After pandemic, employers focus on all-inclusive group health insurance”

The covid-19 pandemic has left many of us working from home for months. While this new normal has undoubtedly enabled employees to manage their agendas and become more efficient, their well-being has taken a hit.

The conditions of estrangement restricted the possibilities of collaborating and maintaining positive relationships with colleagues. And to add to the misery, uncertainty, fear and worry about the health of our loved ones has amplified mental stress.

As a result, job satisfaction, employee engagement and experience all declined.

In an interview with mintBiresh Giri, executive vice president, actuary, ACKO Insurance, said people-focused organizations have recognized the need for a strong benefits package focused on flexibility, sanity and engagement.

As a result, many employers are introducing a new benefit program or expanding existing programs. In addition, benefits are now more focused on offering all-inclusive group health insurance plans, wellness benefits and mental health support.

Why did group health insurance take center stage after the pandemic?

A strong employer brand is less about compensation than actions, culture and care. Prior to Covid-19, employee experiences focused on birthdays, naps, team retreats, free lunches, etc. While many of these are no longer relevant today, there are many people-focused organizations that are working hard to reset the employee experience. For example, many HR managers are now focused on providing meaningful and comprehensive health insurance benefits to employees and their families to make them feel valued.

How employees engage with their organization is heavily determined by how employees feel connected with their employer. With working from home, many employees feel disengaged and isolated. A meticulously designed corporate health plan will instill a sense of financial security among employees. This integrated group insurance plan will help employees stay motivated and achieve organizational goals.

What is offered in all-inclusive group health insurance policies?

Employees want to be associated with companies that prioritize their well-being and safety in addition to receiving a simple health insurance benefit as part of group insurance. As a result, employers now offer more than just insurance. For example, we offer group health insurance plans that offer a mix of insurance and wellness benefits. With a greater focus on digital technologies, we also enable employees to book lab tests, order medications, consult with health experts online, participate in fitness challenges, increase and track complaints, and more through our company’s mobile app.

How do benefit programs benefit both employers and employees?

With all-inclusive collective health coverage, employees have better access to quality care. They can work with peace of mind, knowing that their medical expenses are well covered. Healthier employees are more productive, engaged and focused, which is important to propel the growth of any business.

Additionally, a high attrition rate involves money, time, and effort to hire and train new talent. Benefit programs like group health insurance plans help retain and attract the right talent.

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