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Businesses must constantly make decisions to boost profits while minimizing costs. While this can be a successful business strategy, there are some areas in which short-term cost-cutting measures can lead to long-term profit losses.
Take employee health and dental insurance, for example. Companies may choose immediate financial savings over long-term employee benefits, which can cost them their workforce’s well-being and, ultimately, their bottom line.
The hidden costs of short-term financial choices
Choosing a low-cost plan with limited coverage and higher out-of-pocket costs for employees can hurt retention and recruitment. According to a 2023 study by America’s Health Insurance Plans (AHIP), 68% of employees surveyed said health coverage plays an important role in employee recruitment and 77% said it plays an even more important role in retention.
Another thing to remember is that opting for a plan with limited coverage and/or high out-of-pocket costs may deter employees from seeking care. For example, an oral exam can detect over 120 diseases, including autoimmune diseases, cancer, diabetes, heart disease, kidney disease and osteoporosis. If cost prohibits employees from seeking dental care, small issues can become serious health issues that hurt employees and companies.
When employees neglect their dental health, companies often see a decrease in productivity and an increase in sick days. In fact, employed adults lose more than 164 million work hours due to oral health problems or dental visits. Also, when employees get sick and require more expensive care for preventable conditions down the road, it can lead to higher overall healthcare costs for the company.
Make long-term employee insurance decisions and reap the benefits
When it comes to selecting employee health insurance — particularly dental coverage — companies should think strategically and favor long-term decisions that will benefit their workforce. The first step is to secure insurance plans from a reputable provider like Delta Dental of North Carolina (DDNC).
For more than 50 years, Delta Dental of North Carolina has championed healthy smiles, offering more affordable access to oral health care to businesses as part of their employee benefits and directly to individuals and families.
As the leading dental insurer in the state, DDNC has the largest network of dentists in NC and offers multiple plan options. It’s also part of the largest dental insurance network in the nation, covering more than 85 million Americans and it’s growing every day.
In North Carolina, Delta Dental has grown its membership by 1,222% over 13 years. Why does this matter? With three out of four dentists participating nationwide, it’s easy for employees to find a dentist in network. They may even be able to continue seeing their current dentist if they’re in DDNC’s network.
Investing in employee dental care is a sound business strategy
The value of dental benefits for your business cannot be understated. That’s why selecting health and dental insurance shouldn’t rest solely on cost-saving measures. When a business supports employees’ physical and financial well-being, it can create a workplace environment that fosters health, happiness, and success. To learn more about DDNC’s dental plans and choose the right one for your employees’ needs, visit: DeltaDentalNC.com.
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