Employee Health Care Benefits: Caring For The Vital Resource

Employee Health Care Benefits: Caring For The Vital Resource According to the Wikipedia definition “Employee benefits� refers perquisites or non-wage compensations provided to employees in addition to their normal wages or salaries. Taxable up to certain limits these include housing facilities, health care benefits, health insurance, life insurance, retirement benefits, vacations, day care and tuition reimbursement. All these benefits are provided with a basic aim to increase the economic security of the employees.

Of all the benefits, the employee health care benefits package is the most motivating after salary in these challenging economic times. However, the rising health insurance premiums have made the corporate sectors look for better employee benefit programs to keep employees motivated.

The top-notch organizations that offer employee benefits consulting programs, work closely with their clients to provide their employees optimized health care benefit and consulting services. These organizations also undertake the responsibility of educating the employees about health risks, support, health insurance advocacy and procurement of the right services. The customized benefit plans offered by them promote responsibility and accountability on part of the organization and facilitate the employees to manage health risk, chronic health conditions and reduce absence, which in turn positively effects productivity for the organization.

With business going global, most corporate sectors have their offices spread across wide geographical boundaries.

The organizations thus need to cater for a health care benefit programs for a global workforce and should be in line with Global Compensation benefits. These guaranteed solutions should provide strategies that help the global workforce combat the rising costs of health care as per locations, as well as help them understand the value of the benefits package. Besides, these benefits offered by these service providers also need to be HIPPA compliant.

The Health Insurance Portability and Accountability (HIPAA) Act is a federal law amended as per the Internal Revenue Code of 1996. Basically designed to improve the continuity of health insurance coverage, it has laid specific standards for health care by the organizations. To achieve HIPAA Compliance, organizations must implement physical and administrative safeguards to ensure integrity and security of health care information.

HIPAA security compliance measures should provide the client organizations to simplify the process of health insurance claims, provide improved access and control to patients over their medical information, as well as deploy stringent standards to safeguard the individual health information from any disclosure or leakage. Further the HIPAA regulatory compliance also demands for improved healthcare delivery standards through electronic data interchange. Meeting the customized healthcare regulatory compliance and providing an all inclusive employee health care benefit package ensures a strong workforce ready to meet the challenges of the growing business demands.