Chances are you have Millennial employees on your staff, as they have become the single largest generation in the U.S. labor force. The following infographic provides valuable information on engaging your Millennial employees in health benefits.
8 Ways to Engage Your Millennial Employees in Health Benefits
Millennials in the Workplace:
- 52 percent are stressed out about their financial situation
- 35 percent don’t understand their health insurance options
- 39 percent have a hard time making health plan decisions
To Engage Millennial Employees in Your Company’s Health Benefits:
- Help them understand their health benefits – Millennials place a high value on the importance of health benefits, but the complexity of medical insurance and health benefit plans can turn them off.
- Avoid “one size fits all” benefit plans – Millennials grew up in a world of choices and expect it with their healthcare benefits. Provide various benefit options so employees can select the type of plan that fits their needs.
- Offer high-end plans – While some Millennials just want primary healthcare, others will pay more for comprehensive plans that offer a full range of healthcare coverage.
- Include dental, vision, and prescription drug coverage – For years, these were considered optional coverages. Millennials want and expect them as part of their benefits.
- Offer tax-advantaged benefit accounts – As with other generations, Millennials want tools to help control healthcare costs. Offering Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Healthcare Reimbursement Arrangements (HRAs) gives Millennials more control over how they spend their healthcare dollars.
- Make it fun – Implement employee engagement programs that provide fun, interactive educational materials about the benefits of tax-advantaged healthcare accounts.
- Focus on “total well-being” – To Millennials, total well-being includes physical, emotional, and financial aspects. In addition to wellness programs, consider offering health classes, gym memberships, financial counseling, employee assistance programs, and more.
- Provide simple technology integration – Millennials want easy-to-use mobile and online applications to help manage their healthcare benefits. They want mobile apps that let them:
- Book doctor appointments
- Review and select providers
- Compare healthcare service costs and insurance options
- Participate in telemedicine
Providing flexible, convenient, and easy to understand benefits will encourage Millennials to engage with your company’s health plan, ultimately producing happier, healthier and more productive employees.
DataPath, Inc. has been a full-service TPA business solutions provider for nearly four decades. Our cloud-based Summit platform is the industry’s first all-in-one solution for CDH, HSA, Well-Being, COBRA, and Billing administration; plus, we offer comprehensive Operations BPO and award-winning Marketing Services for users of all administrative platforms. Please enter your email (above right) to be notified when new blog articles are published.