Medibank has launched a new and market-leading corporate health cover program, as part of its 2030 vision to deliver the best health and wellbeing for Australians.
This new corporate suite of products will provide employers with an improved Employee Value Proposition (EVP) and is designed to give employees greater choice and value for different life stages and their budget needs.
Medibank Chief Customer Officer Milosh Milisavljevic said this new corporate program will deliver better health outcomes for both employers and employees.
“This new suite of products sets Medibank apart in the corporate health insurance market by providing market-leading health and wellbeing cover for our corporate customers and their employees,” said Mr Milisavljevic.
“Our products are uniquely designed to offer customers end to end health support across three critical health journeys, from “everyday wellbeing” to “needing help” to “experiencing care”.
“Importantly, we designed and created these new products based on feedback from our corporate customers and with a significant amount of input from like-minded organisations that share the same commitment and genuine care for their employees' health and wellbeing.
Medibank also created these products in response to an increased demand from employers to provide their employers with an improved employee value proposition.
“The corporate market is becoming more competitive as employers are looking for ways to differentiate to attract the best talent. Over the past decade, we are seeing more organisations understand the value and benefits they get out of looking after their employees' health and wellbeing in a meaningful way.
“These new products will help employers improve their competitive edge. We know that employees are expecting their employers to invest in their health and wellbeing, in particular mental health, as more people work a hybrid arrangement.
“By supporting the health and wellbeing of their employees, employers can improve employee engagement and drive better business outcomes. The benefits that businesses see are far outweighed by the cost, such as decreased absenteeism, improved employee engagement and retention.
“Research shows that employer health and wellbeing programs can decrease absenteeism by 25% and that unhealthy employees take nine times more sick leave than their healthy colleagues, which costs $2,741 in productivity per employee per year.
“We believe this new generation of corporate propositions will empower, connect, and incentivise people to prioritise their health, allowing them to bring their whole selves to work and live their best lives.”
New corporate products:
Our products are uniquely designed to offer customers end to end health support across three critical health journeys:
Everyday Wellbeing: Featuring preventative health benefits such as mole mapping, bone density tests and other health screenings, flu vaccination, and an increase in Live Better rewards from $400 up to $700 a year.
Needing Help: Providing a dedicated corporate health assist concierge, all customers to have access to 24/7 Mental Health and Nurse Support lines, 100% back for kids and initial consultations each year on physio, chiro, remedial massage, acupuncture, or podiatry at our Members’ Choice providers, up to annual limits.
Experiencing Care: Preventative health programs (Better Knee Better Me, Better Hip, Medibank Type 2 Diabetes program), Offering step-up private emergency department facility admission fees benefit and no excess for no-gap treatment across all corporate hospital benefits.
The products also include:
Private Emergency Department Benefit: With this benefit, we’ll cover the admission fee for attending an Emergency Department at a private hospital, up to the product's annual limit per membership per year. We understand emergencies can't be planned or budgeted for, and this feature provides essential support.
No Excess for No Gap Programs: To keep out-of-pocket costs down, we introduced this feature on our corporate health cover. If a customer is eligible to participate in a No Gap program, they won't pay any excess or out-of-pocket costs for a wide range of medical services during hospital admissions for certain procedures at participating hospitals with participating surgeons. This feature is now available across every Corporate hospital products in our new Corporate products range.
