Are You Maximizing Your Health Benefits?

Earlier this month, someone incredibly lucky – a $63 million lottery winner in California – failed to step up and claim his or her grand prize prior to the closing date, forfeiting the fortune. We can only speculate why they didn’t cash in. Maybe they were ill or had died. Maybe they didn’t need – or want – the money. Or maybe they just threw the winning ticket into the garbage accidentally, never checked the winning numbers, or washed it in their jeans.

Most of us will never walk away from a fortune, or even from an opportunity to save. We clip coupons, fight the Black Friday crowds, shop online, and check the prices of everything we consider purchasing. Yet, there’s one area where many people often fail to think about missed value, lost opportunities and missed savings – and that’s their health and wellness benefits.

Employers can reinforce the value of employees’ “hidden paycheck” through regular reminders, updates, benefit education sessions and by encouraging employees to touch base with their benefit provider’s website, telephone resources, and customer service support. The more employees understand their benefit offerings, the more they can utilize the full spectrum of valuable services, which can include annual health screenings, fitness center discounts, smoking-cessation programs, vaccinations, eye exams, nurse-call lines, disease-management programs and much more.

Most benefits providers reach out regularly to members. But employers also can encourage employees to visit their benefits websites and, if they haven’t already, establish an account. Suggest they review the full range of health and wellness benefits available throughout the year, instead of just tuning in during open-enrollment season. It’s easy to keep track of your progress against a benefits deductible, or to monitor how much you have in your health savings account. And there may well be unexpected surprises for those users willing to take a few minutes to review their plans in more detail.

Though benefits vary widely from plan to plan, here are a few examples of potential missed opportunities:

  • Keeping track of balances (deductibles, health savings accounts, etc.) and claims helps you monitor your healthcare spending, and know when insurance benefits will kick in more fully following completion of deductible requirements as applicable.
  • By knowing what your plan covers, in detail, you will be better able to take advantage of important benefits such as covered annual physicals, OB/GYN visits, mammograms, eye exams and more.
  • Pharmacy benefits such as tiered drug coverage, 90-day mail-order prescriptions, and generics can represent significant cost savings.
  • Many insurance benefits providers offer online or telephone-based services such as nurse help lines, online question and answer forums, and disease-management programs for medical conditions such as asthma, diabetes, heart disease and respiratory illness.
  • Many benefits providers offer obesity-reduction and nutritional information, educational materials for expectant or new mothers, stress-reduction guidance and a variety of classes.

Reminding employees to complete their online health assessment and access healthcare educational information are simple steps we all can take to become more engaged in helping to manage health and wellness for ourselves, our families, and our employees.

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If you’re not enjoying the benefits of a wellness program at your company, join CBIA Healthy Connections at your company’s next renewal. It’s free as part of your participation in CBIA Health Connections!