Virtual care, also known as telehealth, has become a popular alternative to in-person appointments. According to the American Hospital Association, nearly 87% of hospital systems offered telehealth services in 2022. Younger generations are starting to show a preference for virtual visits, with only one-third of adults ages 25-34 preferring in-person visits over virtual care.
Still, many employers find that the gradual pivot toward technology in healthcare is changing the way that business owners and HR professionals think about benefits packages. Would it be beneficial for your organization and your employees to enhance your virtual care offerings with a standalone package?
The answer to this question is complex and requires a detailed understanding of what these packages entail and how they fit into the employee compensation and benefits landscape.
What Do Virtual Care Benefits Entail?
You may be familiar with one of the most popular virtual offerings, which is telemedicine visits. These allow your employees to meet with a primary care physician or specialist via a videoconferencing app. However, this isn’t the only way your team can receive virtual care. You can also offer:
- Virtual Therapy: Mental health care provided via videoconferencing or text messaging
- Telephone Hotlines: Cursory healthcare advice, often given by a registered nurse or nurse practitioner
- Phone Apps: Wellness activities, including meditation, fitness tracking, and nutrition coaching
- Online Fitness Classes: Virtual exercise sessions with a qualified fitness instructor
As part of a robust employee compensation package, these benefits are designed to allow your employees to access healthcare more easily and on their own terms.
The Advantages of Standalone Virtual Care Benefits
Adding a separate virtual care benefit can have significant advantages for both employees and your organization.
Employees can access care whenever they need it without having to take extra time off work. Convenient care means those with limited mobility or without access to specialists in their area can get the care they need. Additionally, virtual care visits often cost less than in-person care.
Virtual care benefits are an excellent way for employers to show care, which can increase employee loyalty and enhance the employer brand. In addition to being cost-effective, they can also promote productivity and engagement by allowing employees to access care quickly, ultimately reducing illness-related downtime.
Considerations for Employers Offering a Separate Virtual Care Benefit
While including a separate virtual care benefit in your employee compensation and benefits package has its advantages, whether it’s right for your organization will depend on several factors.
When to Consider It
You may want to consider offering standalone virtual care when:
- Your current health plan offerings include very limited or restrictive virtual care options that only address non-critical needs or don’t offer mental health support
- Your employees are in a rural or underserved area with limited access to specialists or in-network doctors
- You have a significant number of employees with young children, mobility issues, or chronic conditions, and you want to offer easy and convenient access to care
- You want to explore the possibility of reducing your healthcare costs
In these circumstances, adding separate virtual employee benefits may make sense for your organization, as they can fill in gaps left by more traditional options.
Addressing Possible Challenges
It’s important to be aware that adding a separate virtual care benefit could possibly result in added administrative burden for your team. If the benefit isn’t integrated with existing health plans, it may introduce compliance issues related to the Employee Retirement Income Security Act and the Affordable Care Act, both of which set minimum standards for healthcare plans.
Talk with a qualified employee benefits broker to determine whether your team will run into compliance issues and how to overcome those hurdles. You should also consider how to tackle the digital divide, providing training and access for employees who aren’t comfortable using technology or don’t have reliable internet service or electronic devices at home.
Build a Solid Benefits Package That Meets Employee Needs
As the season for benefits renewal approaches, it’s important to consider the gaps in your current offerings, the needs of your workforce, and the advantages and challenges that offering a separate virtual care benefit may bring. Fortunately, Benefits Advisory Group has the expertise to help you determine what’s right for your organization.
We can help you assess your workforce and craft a customized benefits package that will meet their needs and those of the organization. Contact us today to see how we can help you make sense of employee benefits and create a plan that serves your employees and bolsters your brand.