Having the top talent in your industry at the executive level of your company is an important piece to ensuring that everything runs as it should. One way that you can set your company apart from your competitors is by offering executive medical plans that come with benefits people are looking for. At Ashton Benefits, we understand what people want in a benefits package, so we’ve put together a guide with elements you should include in your executive medical plan that will appeal to the people you want.
Personalized healthcare benefits
Not everybody has the same needs when it comes to getting health care. You might have one employee with a child who has special needs who needs strong medical coverage to help with the cost of frequent doctor visits. In contrast, another executive doesn’t have a family, is in perfect physical health, and might need one doctor visit a year to ensure that they stay that way. These two people aren’t going to want to pay the same amount of money each month or get the same amount of medical coverage. Provide your executives with a variety of plans that are meant to serve their individual needs.
It’s not uncommon for insurance plans to offer programs to improve the health of their customers. Companies are often willing to pay benefits for those who are actively getting healthier because these incentives typically cost less than it would for them to pay out benefits after a heart attack. Offer wellness programs for your employees so they’re constantly focusing on their health and improving themselves. What’s more, this means that your team will be healthier and take fewer sick days throughout the year.
Executives often make enough money that they’re the primary provider in the home. This means that if something were to happen to them, their household income would be substantially reduced or eliminated entirely. Having a life insurance policy is a high priority for those who are concerned about the financial security of their families. A life insurance policy can be an appealing benefit for many executives when choosing between two companies.
Dental and vision insurance
Offering dental and vision insurance doesn’t often come at an excessive cost for companies because they’re not usually used as often as traditional health coverage. Dental coverage will cover an exam twice a year with x-rays, cleanings, and fillings. Coverage beyond these parts of an exam isn’t requisite for average dental plans, which makes them more affordable.
Vision coverage can be even cheaper than dental coverage because the benefits can be slimmed down even further by offering a single eye exam a year and a specified dollar amount toward glasses or contact lenses. This makes for another affordable coverage option that helps to attract talent.
Flexible spending account
For those who accumulate large medical bills throughout the year by paying co-pays at doctor appointments, buying prescriptions, or renewing glasses, a flexible spending account is a great option. A flexible spending account is essentially a debit card that gets financial contributions each month. It can be used to pay nearly all medical expenses throughout the year. You can provide this option for your executive team so they can more comfortably afford health care for their family.
Contact us for more tips
If you’re looking for more ways your executive medical plans can be used to attract top talent in your industry, get in touch with us at Ashton Benefits. We’re here to help you find a medical coverage plan that gives your company an edge over your competitors. Set up an appointment by calling 877-640-2813. You can also send a message using our online contact form.