Many employers don’t realize through effective flexible benefit education, they can encourage employees to utilize their plan in a more preventative, health way, rather than reactively, which will in turn, save them money on the premiums over the long run.
The numbers matter.
My spouse went for his annual physical. No surprise we’re at that “age” where things can happen. Triggers, you may call them. Because of this health services recommend certain markers be monitored. The doctor mentioned that based on family history and some indicators on the preliminary blood tests showed that a particular medication should be started.
My spouse, feeling tip top health wise didn’t want to start taking a medication based on family history and some blood markers. This would be lifetime commitment to this prescription and the reasoning felt a little flimsy. He asked the doctor about further testing to be more definitive.
Unfortunately, the test that could provide this information was not available through the public system, it would need to be paid for privately. Such a scary concept for us Canadians when something isn’t available under the public system, we somehow think it is then off limits. Not at all when you have access to a corporate private benefit plan through your employer.
How much?
· About $600 all in.
· The medication ran about $132 per month.
This seemed like a no brainer and the claim could flow through the flexible health appending account.
Result
In the end, the test was clear, no medication required.
Understandably, this is not always the case, and it could have just as easily gone the other way. But at least we would know for sure.
While it would have been easy just to be reactive and accept the prescription, based on the limited information available at the time, using the options available under the extended health care benefit plan and going for the additional testing, saved my husband the hardship of committing to a prescription for the remainder of his life, and the benefit plan thousands of dollars of claims.
Let’s have a conversation.
Reach out if you would like to explore your corporate benefit options, like:
· Group Life Insurance
· Extended Health Benefits
· Unlimited Pharmacy Coverage
Note: this was written without the aid of Artificial Intelligence (AI)
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