At The Part-Time Benefits Company one of the most financially impactful benefits that we work with is third party tele-medicine. Whether a person has health insurance or not, this benefit alone could save them thousands per year. With the average deductible in this country nearing $4,000 for an individual and $8,000 for a family, $0 tele-medicine is becoming a must have benefit.
With the $0 telemedicine benefit through the Part-Time Benefits program costing just $1.99 per week (1 of the 7 Essential benefits included), employees could experience significant savings on both healthcare costs and time, especially given the context of high-deductible plans. Here’s a breakdown:
- Cost Savings on Deductibles and Out-of-Pocket Expenses
– Elimination of Copays and Deductible Impact: Traditional medical visits and urgent care often require meeting high deductibles before insurance coverage begins, which can be $4,000 for individuals and $8,000 for families on average. With $0 telemedicine, employees can bypass these costs for many common medical issues, directly avoiding out-of-pocket expenses and reducing the need to meet high deductibles.
– Total Annual Program Cost: At $1.99 per week, the Part-Time Benefits program costs just about $103 per year. For that small investment, employees have the potential to save on every telemedicine consultation they would otherwise pay for.
– Example Savings Scenarios:
– Individual Plan Holder: If an individual needs 3 telemedicine consultations throughout the year (e.g., for minor ailments, mental health consultations, or follow-ups), they could avoid approximately $1,000–$4,000 in deductible-related expenses and copays.
– Family Plan Holder: A family might use telemedicine more frequently, perhaps 10 times per year across members. In this case, they might avoid $2,000–$4,000 in deductibles and copays for minor illnesses and preventative consultations.
Estimated Annual Cost Savings:
– Individual Plan Holder: Around $1,000–$4,000, minus the $103 annual program cost, resulting in net savings of $900–$3,900.
– Family Plan Holder: Around $2,000–$4,000, minus the $103 annual program cost, resulting in net savings of $1,900–$3,900.
- Time Savings on Doctor Visits and Lost Work Hours
– Reduction in Lost Work Hours: Using telemedicine often means employees don’t need to take half or full days off work. A telemedicine visit can typically be scheduled outside of work hours, during a break, or around work shifts. This convenience reduces lost wages or sick time, which is especially valuable for part-time workers who might not receive paid sick leave.
– Avoidance of Travel and Waiting Room Time: Each telemedicine appointment can save an average of 1–2 hours in travel and waiting time. With an estimated 5–10 visits per year, an employee can save 5–20 hours annually.
Estimated Annual Time Saved:
– 5–10 hours for an individual.
– 10–20 hours for a family, reducing overall time lost due to minor medical needs and enabling faster access to healthcare.
Overall Impact
For just $1.99 per week, the Part-Time Benefits program allows employees to access medical care more conveniently, avoiding high deductibles, copays, and time lost from work, with estimated annual savings as follows:
-Cost Savings: $1,000–$2,000 per year.
-Time Savings: 5–20 hours per year, depending on usage.
This benefit is particularly impactful for employees with high-deductible plans, as it enables more affordable access to essential care without the financial burden of meeting high deductible thresholds.
Visit www.PartTimeBenefits.com for more information regarding tele-medicine and our Essential Plans.
Ricci DeRosa
Co-Founder
The Part-Time Benefits Company
Rick@ThePartTimeBenefitsCompany.com
