The cost of living crisis is set to trigger a wave of financial stress for people everywhere. But you can help worried and stressed employees with one of our Health Cash Plans and the additional wellbeing benefits they come with.
When employees struggle with their financial wellbeing it can start a domino effect of health issues by increasing stress levels, which often disturbs sleep. Stressed, worried, and tired employees find it harder to concentrate at work. They become easily distracted and struggle to maintain focus. You can support your workforce through this period with employee benefits that show you care.
Our Health Cash Plans go so much further when it comes to helping with the rising cost of living. Not only do they give employees money back for the costs of everyday health bills such as dental, optical, and physio treatments; they also come with MyWellness, which includes big benefits of additional wellbeing services that can help employees cope with their financial stress. Here are four benefits of Health Shield Health Cash Plans that your employees will value as inflation continues to make headlines.
Helping stressed employees
Digital mental health app
According to recent studies, 40% of employees would value having a mental health or wellbeing app provided as part of their employee benefits1. It’s certainly been a stressful time for HR teams and employees over the last couple of years: having to react to constantly changing guidelines that directly impact the day-to-day routines of workplaces. Constant change can cause stress and the rising cost of living is an additional strain.
You’ll want to be able to support your teams whenever they are showing signs of stress. But unless you’re trained as a mental health first aider, how can you help? Digital therapy self-care apps are a great tool to provide to your employees. It allows them to find expert advice and a little bit of support whenever they need it without having to make an appointment to speak to somebody.
Our Health Cash Plans come with an NHS approved* award-winning mental health app that provides digital therapy and support at the touch of a button. It includes prevention and mindfulness techniques, such as guided breathing exercises and confidential live in-app chat with clinically trained therapists. With this app you’ll be providing your employees with 24/7 access to effective mental health support.
Quick access to a doctor with a remote GP service
Whether it’s a meeting at work or a catch up with friends, one of the things we’ve all become more used to over the last year is chatting with people over a video call. And GP appointments are no different. My GP Anytime can be included as part of your MyWellness package.
Virtual GP appointments offer a quick and simple way for employees to talk to a GP. With the NHS currently struggling with record waiting times for some treatments, it’s no wonder that virtual and remote GP services are a health benefit that employees want more of. According to a recent survey, it’s the employee health benefit that’s increased in demand the most with 13.5% of workers wanting their employer to introduce this as an employee benefit: an increase of 264.2% compared to a previous survey2.
Employee Assistance Programme (EAP) and 24/7 counselling
An EAP works by offering employees access to a support service which they can use if they want to discuss any aspect of their life that’s currently undermining their health and happiness. Stress and financial worries are known to be amongst the big contributors to absence, so this option as part of your Health Cash Plan can be compelling to businesses seeking to address this. EAPs help demonstrate a commitment to mental health support. Employees can access trained counsellors over the phone and even access face-to-face counselling and cognitive behavioural therapy (CBT) sessions should they need it.
Helping salaries go further
Financial confidence to stay healthy
Our Health Cash Plans makes healthcare more accessible to your workforce. With the rising cost of living, many employees will be looking to tighten their belts. Routine costs for looking after health, such as dental checkups or trips to the opticians, could suffer. A Health Cash Plan gives employees some financial security when it comes to staying in the best of health.
Last year, Health Shield paid over 440,000 claims, putting more than £23.5m back into pockets. We make claiming online simple for our members, which is why 85% of claims are made this way. Our members love our service which is reflected in our great Net Promoter Score of 65 (the health insurance industry averages 27).
Shopping discounts
Our Health Cash Plans come with an additional range of wellbeing services available online via our members’ portal called MyWellness. This includes My Perks†, with discounts on shopping and groceries helping stretch your employee's money that little bit further. Members can get cashback offers or tasty discounts off some of their favourite brands and supermarkets.
Some of the Perks currently available to our members include discounts with Adidas, B&Q, and Boots; and vouchers for supermarkets including Asda, Sainsbury's and Tesco‡.
The employee benefits revolution shows no sign of slowing down. Employees are looking to their employers to show that they value them and care for their health. You can protect your workforce by helping them access the healthcare they need whenever they need it.
Join the employee benefits revolution...
This is a financial promotion
Health Shield Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
* The app meets NHS quality standards for clinical effectiveness, safety, usability and accessibility and has a supportive
evidence base.
† The exact blend of MyWellness benefits your employees receive depends on the health cash plan you choose.
‡ Offers are correct at the time of writing but may have expired since then.
1LCP Financial Wellbeing Report
This is a financial promotion.
Health Shield Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
