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A Minimum Essential Coverage ( MEC ) plan is another option . As the name states , these plans allow large employers to avoid tax penalties by offering the minimum required coverage to their workforce , but they can also result in high out-of-pocket costs due to the limitations of the coverage , which often excludes prescription drugs , hospital care or surgery .
Both of these avenues can result in increased medical debt for the employee . But it ’ s not an inevitability . A well-informed workforce can make the most of HDHP or MEC plans without compromising their health , proving beneficial for both the employee and the manufacturer ’ s bottom line .
For these employees , a healthcare benefit navigator can be a big help . Navigators help employees better understand their policies , working with them to avoid high costs , when possible .
Improving employee satisfaction and productivity Employees attempting to access their benefits can feel overwhelmed and will often make uninformed choices about their health and , by extension , their finances . The resulting stress and debt aren ’ t good for them , and it isn ’ t good for their employer . What ’ s more , they will likely need to address healthcare issues during the workday , when providers and insurers are available , leading to productivity issues .
This is a particular concern with employees on MEC and HDHP plans . Employees on these plans may have even more questions about their deductibles and out of pocket costs . Having incomplete information could mean more medical debt than is necessary .
The healthcare navigator acts as a kind of translator and guide for these employees , providing one-on-one guidance and even
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