In these uncertain times, the idea of job security is gaining momentum every day. Economic pressure as an aftermath of the global pandemic is making employees more conscious of their jobs.
The concept of job security goes both ways– employers and employees spectrum. While job security is becoming prevalent in economic discussions globally, there is also the importance of tending to one’s health care program.
Job security is equally as important as the employee’s healthcare and salary. They are all intertwined, and anyone’s absence can be disastrous.
What Really is Job Security?
Simply put, job security is the confidence an employee has that their job cannot be taken away from them regardless of the economic downturns. It means having a job that you are certain you cannot lose any time soon. This alone guarantees peace of mind and can boost productivity from the employee. Consequently, employers would gain from this.
One of the determinants of individuals taking up a job is the assurance that their job will be secured and that outside forces won’t allow them to be laid off. The idea of having a stable paycheck for some time is always appealing to a prospective job seeker.
Having a regular paycheck helps to attend to bills without the fear of not being able to pay when they are due, which can be a negative factor in an employee’s productivity. If you never have to worry about your job stability or unexpected terminations, then your job is pretty much secured.
Once an employee begins to have fears of being laid off anytime soon, it is projected in their output. They begin to think of how to fund their credit cards, improve their credit score, pay for their healthcare plan and other bills payments once they get to the point where they are not sure if they can pay next month’s bill because of the insecurity of their jobs, productivity lags.
What is a Healthcare Plan?
A Healthcare plan or health insurance is that type of insurance that helps to cover the cost of a person’s (insured) surgical and medical expenses. There are ways with which the insured pays for the plan. This is largely dependent on what kind of job the individual has. For instance, some jobs have employee benefits packages that come with healthcare benefits.
There cannot be an overemphasis on the importance of a healthcare plan. One’s health is key to productivity. Employers know this, and some try to invest in the health of their employees. You do not want to have one of your best employees struggling with an ailment that can be treated, though expensive. This is why having a healthcare plan is as important as finding out if your job is secured.
Some other folks would have to pay from their pockets after they might have received their salaries. Without a doubt, those whose employers have packages for their health care plans would not have to worry about additional payment for healthcare plans from their pockets.
Types of Healthcare Plans
Healthcare plans used interchangeably as health insurance consists of two main types: private and government or public health insurance.
Private Health Insurance
Strangely, this is the most common type of health insurance. According to a Centre for Disease Control and Prevention survey, the U.S. healthcare system is almost totally reliant on private health insurance schemes. The reason is not far-fetched. Private health insurance is more detailed and inclusive of factors that are not integrated into public health insurance.
Public Health Insurance
This is the government merely subsidizing healthcare services in exchange for a premium. Agencies like Medicaid, Veterans Health Administration are examples of public health insurance. They provide healthcare benefits at a subsidized rate.
There are other types of health insurance plans. They include:
● Preferred Provider Organization Plans: This allows any individual (insured though) to visit any doctor they want. The insurer then pays for the treatment after negotiations.
● Indemnity Plan: This allows the insured to visit a preferred doctor or hospital of theirs. The insurer will then pay 80% of the cost, while the insured pays the remaining 20% as coinsurance.
All of these plans show that the individual must have a steady source of income to maintain any of these plans. This is where job security comes in.
How Does Job Security Affect Healthcare Plans?
Having the assurance of job continuity determines the premium importance you place on healthcare plans. Having a healthcare plan is as essential as anything of value. While you work, it is also crucial that you place importance on your health.
Some circumstances cannot be predictable. Say, an accident. Nobody goes out and believes an accident is going to happen to them. So, these unforeseen circumstances propel one to prepare beforehand so as not to be caught unawares.
The certainty or guarantee of a job provides stability in regular payment of bills of a health insurance plan. If an employee isn’t sure of the continuity of their job, they may not want to adopt a healthcare plan for fear of debt and the belief that they may not keep up.