Employee absence, illness and disability are placing a huge financial burden on companies in South Africa today. Many larger companies are investing in full-time occupational health specialists and entire departments to deal with health and wellness, as well as employee benefits such as medical aids and disability insurance.
In addition, the fragmented manner in which these elements are managed creates a real headache for human resources specialists, particularly in companies without large corporate infrastructures. It is also difficult for smaller operations to justify the extra cost of perceived “soft issues” such as wellness and fitness; in South Africa there are no statistics to back them up.
Integrating health benefit risks reduces costs and boosts productivity
“Health risk management is becoming the crucial link in the chain for all employers. The key to this for all companies is the ability to integrate the benefits across the employee health benefit spectrum and achieve the financial saving and human productivity benefits that follow,” says Ralph Richardson, CEO of Momentum Collective Benefits.
“Cost effective access to the benefits of comprehensive medical aid, wellness programmes and death and disability insurance is essential for smaller companies. They should have the option of an integrated product that is affordable, efficient and accessible, and cuts out all the HR hassle.”
Aimed at the medium-sized employer, Momentum Insync is designed to provide businesses with a comprehensive integrated solution that helps reduce health risks and costs to the business, while effectively boosting the productivity and wellness of employees.
Proactive intervention gets people back to work
“We developed this solution to provide businesses with more than just medical aid and group death and disability cover. Our country’s economy and business sectors depend on maintaining a healthy workforce for long-term sustainability. Therefore, we have incorporated a proactive approach that helps manage people back to health and back to work, while minimising absenteeism and all its associated costs,” says Richardson.
Insync provides cost-effective health management and intervention
Insync includes three major services:
• Medical Aid provided by Momentum Health
• Group Life and Disability insurance provided by Momentum Collective Benefits
• Absence and Health Management, which includes health risk assessments and a process that helps to identify individuals for enhanced health management.
Taken together, this means that employers and employees in medium-sized businesses now have access to an effective health management and intervention process that might otherwise prove too costly.
In addition, since the absence and health management components are free, companies enjoy all the benefits for the same price as they would normally pay for a medical scheme, or group life and disability cover alone.
The Momentum Insync process enables Momentum’s case managers in both the medical scheme and group insurance environments to identify instances where individuals are at high health risk. This identification process leads to early intervention by case managers, helping to reduce death, disability and medical scheme claims, while simultaneously reducing and managing absenteeism and maintaining a healthier work force.