It should come as no surprise that Medical Scheme contributions have been increasing by 3-4% in excess of normal inflation over the last 5 years. In addition to paying more to healthcare service providers, medical schemes have been forced to cover expensive chronic and prescribed minimum benefits, the introduction of new and expensive drugs whilst seeing an increase in the average medical scheme member age and deterioration in health. This has left the medical scheme industry in a precarious and rapidly consolidating position, while it serves as the battle ground between the objectives of poorly implemented, incomplete and abandoned government healthcare policies and a diminishing pool of qualified nurses and doctors and an exceedingly 'profitable' private hospital environment. While the issues are complex, the impact on the South African consumer could not be clearer – as contributions rise and real benefits decline, quality healthcare is fast becoming an unaffordable luxury.
While the "cost to company" approach have defrayed the immediate impact to the employer of healthcare expenses rising faster than salary levels, employees' financial wellness have in the process been compromised in the process. Employees have been forced to mitigate the cost by downgrading benefits, often to a hospital plan, neglecting their health in the process. This invariably leads to productivity loss for the employer.
Worldwide trends show that employers are coming to the realization that employee health & wellness is a strategic issue on par with other threats to sustainability and profitability. It can be argued that by only providing a medical scheme for employees,
an employer is abdicating his responsibility towards the health and well-being of his employees, whilst at the same time putting his future business sustainability in the hands of a third party not aligned with the interests of either the employer or employee.
The Spesbona Corporate offering is limited to employers with more than 20 employees. Employers that are willing to rise to the challenge and facilitate a fundamental shift in the wellbeing of their staff will benefit in both the short and longer term financially. We have ample evidence where we were able to assist employers and employees to unlock additional benefits and receive better care than under comprehensive medical scheme options alone. The employer, while facilitating the process, does not have to take on additional duties – the Spesbona solution actually makes the task of looking after employees and managing healthcare related finances easy and more rewarding.
The employer chooses his level of participation. Our processing network ensures a personal service, protects the privacy of the patient while adding considerable advantages to all parties concerned.
Should you as an employer be interested, please feel free to contact us. We will provide a full on actuarial analysis and recommendation for your business.