The impact of health insurance on absenteeism has become increasingly important in shaping modern workplace dynamics. Time, technological advances, and the incorporation of new generations into the work environment have significantly transformed company dynamics. Today, new generations are more likely to change jobs if they are dissatisfied, forcing organisations to implement effective strategies to meet these modern challenges.
This increase in absenteeism rates represents a critical challenge that erodes the productivity and efficiency of large companies. In this scenario, the impact of health insurance on absenteeism positions it as a valuable tool for companies.
The relationship between health insurance and the reduction of absenteeism is an area of growing interest, not only because of its direct implications for business operations, but also because of the complementary benefits it brings to the overall well-being of employees.
Discovering the impact of health insurance on absenteeism reduction
There are multiple benefits of offering business health insurance, which goes beyond a mere competitive advantage in the labour market, due to the impact of health insurance on reducing absenteeism.
Studies show companies that invest in health insurance for their employees see a significant decrease in absenteeism rates. This not only increases the workforce’s availability but also increases employee satisfaction and engagement.
Large companies have already begun to recognise the importance of comprehensive health coverage, including both physical and mental aspects, as part of their business strategy:
For example, David Peñaranda, Health & Safety Manager at ifeel partner Werfen , points out:
‘In the last year, we have managed to implement “Employee Wellbeing”, a strategy designed to support our wellbeing in all its dimensions.’
Integration of mental health into employee insurance policies
On the other hand, when discussing the important impact of health insurance in reducing absenteeism, emphasis should be placed on modern policies, which go beyond just guaranteeing the physical health of employees, to take care of their mental well-being.
This is linked to the increased visibility and awareness of mental health as a fundamental pillar in employees’ daily lives.
Integrating mental health into employee insurance is a crucial and often underestimated component. Mental health is directly linked to the productivity and overall well-being of employees. Recent studies indicate that stress and other mental health problems are responsible for a significant percentage of absenteeism.
Vasco Armés, Director of Human Resources at PERI Iberia, an ifeel partner company, states:
‘If we want to demand rigor and results, we also have to demonstrate that we are available to worry when this is necessary. .’
This holistic approach enables companies to reduce absence days and improve the organisational environment and talent retention.
Relationship between health insurance and absenteeism reduction
The impact of health insurance on absenteeism is evident in multiple studies and success stories. Companies that provide quality health insurance often see significant improvements in employee attendance and morale.
In fact, a Harvard Business Review report shows that organisations with well-structured health programmes have 25% less absenteeism than those without such programmes.
In addition, efficient health insurance management can also lower health insurance costs in companies. For example, the implementation of wellness programmes and disease prevention can lower insurance premiums and costs associated with claims and sick leave associated with mental health problems.
For example, encouraging healthy habits and providing easier access to preventive medical services and mental health solutions can reduce the need for costly treatments in the future.
Tips for implementing effective health insurance
To ensure that programmes are implemented correctly and maximise the impact of health insurance on reducing absenteeism and cost efficiency, companies can follow these steps:
| Step | Description |
|---|---|
| Needs assessment | Conduct a thorough analysis of employee health needs and the company’s risk profile to tailor insurance programs. |
| Provider selection | Choose health insurance providers that offer comprehensive coverage and holistic well-being services, including mental health and preventive programs. |
| Communication and education | Clearly and effectively communicate the health insurance benefits to employees. Offer workshops and educational resources on health and well-being. |
| Program implementation | Introduce wellness programs that promote healthy habits, such as regular exercise, access to corporate mental health solutions, proper nutrition, and stress management. |
| Monitoring and evaluation | Set metrics to monitor the effectiveness of health insurance programs and conduct periodic evaluations to adjust and improve strategies. |
| Incentives and rewards | Offer incentives for participating in wellness programs and rewards for achieving health goals, such as insurance premium discounts. |
These steps ensure that through the impact of health insurance on absenteeism, employee mental health is improved and company resources are optimised, reducing absenteeism and health-related costs. By following these recommendations, companies can create a healthy and productive work environment, benefiting everyone involved.
Technology at the service of insurers
At ifeel, we know that the impact of health insurance on absenteeism is indisputable. The integration of mental health into employee insurance, together with a comprehensive wellness strategy, translates into healthier, more motivated and productive employees.It is, therefore, timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs.
Thanks to our innovative triage system, this service allows insurers to receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, accurately understand users’ needs, and respond appropriately to their claims.
This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims, optimising risk management.
Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.
We hope you found this article on the impact of health insurance on absenteeism interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.
