The COVID-19 pandemic made employees across the nation realize what is truly important to them. Besides urging employees to quit jobs that were taxing on their physical and mental health, it also made healthcare the most preferred employee benefit.

 

Healthcare emerging as the in-demand employee benefit after a global health pandemic isn’t surprising, though. Healthcare in the US is very expensive. With the covid-19 pandemic making people realize the importance of health and wellness and organizations downsizing their most loyal employees due to the subsequent recession, workers are approaching potential jobs with a new attitude now.

What Makes Healthcare Important as Employee Benefit?

Healthcare as employee benefit provides workers the assurance that in case of another disease outbreak, they can seek medical help. The fact that covid-19 also leads to severe and long-term health consequences among a large percentage of those affected also increased the popularity of healthcare as employee benefit.

 

The general population has become more conscious about their health and wellness. Millennials and Gen Zers spend more than ever on doctor visits, gym memberships, wellness trends, and healthy food. Since organizations don’t cover the cost of healthy food and gym memberships, it is justified for employees to expect them to cover doctor visits.

Types of Healthcare as Employee Benefit

Healthcare as employee benefit isn’t just a benefit. Instead, it can be sub-divided as:

Health Insurance

Health insurance is the most essential of all healthcare benefits. Almost all businesses, big and small, offer health insurance to their employees. Several organizations also cover telehealth bills and provide health insurance, given their rising popularity.

Mental Health Benefits

The covid-19 pandemic caused as much harm to people’s mental health as it did to their physical health. Staying locked inside the home for an indefinite duration encouraged a large percentage of the population to seek professional help with mental health. With the increased work pressure on remaining employees due to the Great Resignation, they expect their workplace to cover the cost of mental health treatments, so they don’t experience burnout.

 

Besides covering the cost of therapy, psychologist, and psychiatrist sessions, many organizations also offer various stress-busting benefits, such as yoga classes, gym memberships, massage therapy, etc.

Paid Time Off

Paid time off is another essential healthcare benefit. Big organizations offer their employees at least two weeks of paid time off post-pandemic. This benefit comes with the freedom to utilize the time off as needed. This allows the employees to take a mental or physical health break at will to feel refreshed and recharged.

Disability Benefits

Disability and life insurance benefits are other popular healthcare benefits. They provide employees the security of knowing that if their physically demanding work ends in disability, they and their families will be taken care of.

 

Financial Wellness Benefits

The constantly rising cost of living has led the nation into a retirement crisis. The stress of potentially never retiring has become a constant stress factor for young employees. In this scenario, financial wellness benefits have become more important than ever. With Millennials and Gen Zers planning to retire earlier than Boomers and Gen X, retirement plan benefits have become a non-negotiable for many employees.

 

It is no doubt that healthcare as employee benefit is essential. As an employer, you can offer a combination of various healthcare benefits to keep your employees happy and motivated.