The Value of Dental Insurance as an Employee Benefit
Employee Benefits can be interpreted in many ways; with packages that might include a company car, flexible working or health insurance. However, one of the most requested employee benefit insurances is dental insurance. In 2015, group dental insurance was growing twice as fast as other healthcare insurance products. Dental Insurance grew at 32.3% where as Private Medical Insurance only grew at 16.7% and Health Cash Plans at 16.2%.
In the UK, dental insurance is one of the few insurances that is not free on the NHS – people must contribute towards to cost of treatment. This year the cost of NHS dental treatment rose by 5% following an already 5% rise last year. This is one of the contributing factors as to why children living in the UK have very poor oral health. Research carried out by The Royal Children’s Hospital conducted that one in three children don’t brush their teeth twice a day and that one third of primary school children have had a filling due to tooth decay.
People tend to insure lots of areas of their lives, their home, their cars and yet often don’t think about the implications of time of work due to poor health. In May 2017 Dental Insurance compared with other health insurance scored the highest results as a flexible and voluntary (opt in) employee benefit.
Employees are requesting, and expect, to be offered employees benefit package when starting a new job. Providing insurances to employees also have a positive monetary impact for employers and their businesses. If as an employer, you can provide better benefits than your competitors then employees are more likely to stay with your business. Health insurances can also encourage employees to think about and take responsibility for their own health. Encouraging doctors’ appointments, hygienist appointments and regular dentist visits will encourage prevention rather than the need for cure to an illness.
It is estimated that is costs the UK economy £105 million each year in sick days due to tooth decay and poor oral health. A health cash plan can also be provided as an employee benefits where members on the policy are able to receive the money back from appointments, such as dental, optical and physiotherapy. Employee Assistance Programmes can also be added as a bolt on to cash plans – provide professional support for employees who might be struggling with a work life balance or their mental health.
BDHL take the time to understand your business and your approach to employee benefits. We can review the market, take care of all the administration of your policies as well as advise about marketplace trends. Our team of specialised advisers can be providing you with the knowledge and understanding to keep your business one step ahead of your competitors.
With over 25 years’ experience choose BDHL for a boutique, approachable, quality, dedicated and impartial service. Call us today for more information on 01892 891900 or alternatively you can email your questions to email@example.com