Finance Monthly. Bank i ng & F i nanc i a l Se r v i ce s 39 1. Health Insurance Physical and mental health are often discussed as separate issues, but in reality, they’re intrinsically linked. Poor physical health can often lead to deteriorating mental well-being, especially when faced with long waiting times for treatment. Likewise, people suffering with mental health issues may be less likely to care for their physical well-being, leading to further health problems. Supporting employees to access healthcare can help foster a healthier, happier workforce. Corporate health insurance policies often come with a wide range of benefits to help members live a healthier lifestyle, get diagnosed sooner, and access the treatment they need more quickly than through the NHS. Of course, this includes a wide array of physical conditions – from back pain to cardiac issues, and from maternity care to cancer. But many health insurance policies also include various supports for mental health, such as counselling and addiction support. 2. Health Cash Plans With a health cash plan, employees can claim back some or all of the cost of certain routine treatments and appointments that aren’t covered by health insurance. Employers generally pay a monthly fee for each employee to be on the scheme, and each individual can then reclaim their expenses up to a set limit. There are usually different tiers available, so businesses can select a plan that meets both their budget and the workforce’s needs. Employees can typically claim back the cost of things like dental treatment and check-ups; health screenings; well-being treatments such as massages; physiotherapy; and counselling. If a business is currently unable to fund health insurance for your workforce, a health cash plan can offer some support to help employees care for their physical and mental health. However, even if businesses do have a health insurance plan in place, a health cash plan may cover a number of areas not included in the policy – so it may be worth offering both simultaneously. 3. Employee Assistance Programmes (EAPs) EAPs are one of the most common benefits offered by employers. These Supporting employees to access healthcare can help foster a healthier, happier workforce.
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