Page 43 - Delaware Medical Journal - July/August 2020
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CASE REPORT MSDIS CORNER
or fractured wrist, and the payment could be used for things like transportation or lodging costs.
Cancer Insurance: When a cancer diagnosis is received, the last thing most people want
to worry about is the impact the illness will as a result, provide a lump sum payment that can range from $10,000 to $100,000, upon the diagnosis of various types of cancer, allowing the individual to better focus on recovery.
Critical Care Insurance: Serious health events usually carry substantial expenses for the patient. These programs typically named critical illness. Most carriers will
list among their covered illnesses things like cancer, heart attacks, strokes, kidney failure, blindness, paralysis, and major payments are made to the insured regardless of any other coverage the individual may have. The rationale for this is that there is resulting from unreimbursed expenses, both medical (like deductibles and coinsurance) and non-medical (like travel, child care, etc.) resulting from such illnesses.
for practices to consider would be Dental Insurance, Vision Insurance, Pre-Paid Legal Programs, Debt Repayment Programs, ID Theft Protection, Student Loan Repayment Programs, Pet Insurance, Hospital Indemnity Insurance, Financial Education and Counseling, and Long-Term Care Insurance.
GETTING WORKSITE BENEFITS RIGHT
When properly planned and executed,
value to both the employer and employee,
But how do you ensure that your program is successful? Here are a few tips.
Creating the Right Portfolio: Choosing the right portfolio requires sound knowledge of your workforce. Just knowing their age, gender, and family status is not enough. It
is also important to know the needs and expectations of your employee population. Surveys can assist you with this, as can
any claims utilization data you may have. Once you understand employees’ needs and expectations, it will be easier to select the
Timing: There are two schools of thought regarding when a company should offer enrollment during the company’s annual open enrollment period. While this makes sense in many respects, there is a concern
that employees are already facing increases
package and may be less willing to add on other option is to introduce your worksite employees may be more focused and less coverage gaps and personal needs. Ultimately, the best time to schedule your worksite for you and your employees.
Enrollment Strategy: Enrollment strategies will vary based on the demographics and capabilities of each workforce. Smaller companies may be able to arrange a
meeting for all employees in a single conference room, while larger companies may require technology solutions such
as web conferencing. More sophisticated workforces will allow technology to play
a key role, while others may require more one-on-one presentations. The important thing is to know your workforce and plan for an organized, well-thought-out process. Communication channels such as voicemail, email blasts, and text messaging can be
effective tools to start preparing employees for the upcoming enrollment process. The way the program is presented will be key in determining its effectiveness.
Workforce Engagement: It is not only important that employees understand the them but also that they understand the details their needs best. Today’s carriers and vendors can help, as can technology platforms, wellness incentives, and new methods of communication. These tools can better equip employers to highlight the opportunities available to employees and ensure that each employee is better engaged in the process of
The Medical Society of Delaware Insurance Services (MSDIS) is uniquely positioned
to assist you and your employees with experts has the knowledge and resources to help develop products that meet the needs of your practices and your employees, and assist with the implementation of these products in your practice. Even if you time to evaluate your program to make sure that the needs of your employees are met. Sharon Ruth, Healthcare Client Advocate
at MSDIS, will be happy to work with you so that you can compete with your peers, retain employees, and recruit new hires.
CONTRIBUTING AUTHOR
■ SHARONRUTHisaSeniorClientAdvocate
who wastes no time when it comes to advocating for her clients and prospects. She coordinates all lines of Property and Casualty coverage for the Medical Society of Delaware Insurance Services, Inc. (MSDIS), specializing in Medical Malpractice. She will be happy to assist you with your insurance questions or concerns. Contact Sharon at 302-397- 0173 or sharon.ruth@usi.com.
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