Employee Benefits Consulting and Alternative Medicine

Alternative and complementary medicine, are being increasingly utilized in the United States, both as stand alone medical treatment or in conjunction with conventional medicine. Employee benefits consulting firms can help a company determine if alternative insurance coverage is needed and what types to extend to their employees. Factors that may play a role include the age and health of the work population, the demographic makeup, and the general culture of the business.

Alternative medicine is defined as those therapies that replace conventional treatments, while complementary medicine may be the same or similar therapies, but used in conjunction with the standard. These therapies include acupuncture, massage therapy, prayer and spiritual healing, meditation, biofeedback, and hypnosis. Chiropractic therapies are sometimes included with this group, but have a growing acceptance in mainstream medicine.

Employee benefits brokers can help companies determine if insurance to cover these types of procedures will be seen by their employees as a value added benefit to their compensation. These brokers can help determine if the cost is worth the reward of employee satisfaction. A third option may be to simply put a program in place to make these services more affordable for employees, as opposed to insuring them.

Also see: Employee Benefits Consultants

Employee Benefits Brokers

Although alternative medicine is a rapidly growing segment of medicine, many insurance companies still do not recognize it as a standard covered therapy. Employee benefits brokers can help determine if a company's state has any mandates on the coverage or which policies carry some type of benefit or discount for alternative or complementary therapies.

For populations that hold alternative medicine in high regard, self-funding may be a valuable choice. Employee benefits consulting firms can navigate through the insurance maze and determine if there is a plan available for the company's, if self funding is a better option, or if other options exist.