How do you weigh the costs against the value managed vision care brings to your company?
With rising costs and increasing pressure to manage business budgets, companies are always seeking ways to maximise their return on investment (ROI). However, managed vision care is often overlooked in these discussions.
Managed vision care is a specialised health benefit that provides employees with access to routine eye exams and, if needed, prescription glasses to address common vision problems. Instead of reimbursing employees for eye care expenses after the fact, managed vision care offers upfront, affordable access to essential eye care services. It operates similarly to other healthcare plans, focusing on prevention and early detection of eye conditions, which can help reduce long-term health costs.
Implementing managed vision care into your overall employee benefits offering can be a relatively low-cost way to improve your company’s bottom line. In more ways than one.
Before looking at the financial advantages of providing managed vision care, it’s important to understand the hidden costs of neglecting this aspect of employee health.
Poor eye health can have a huge impact on both employees and employers, and here’s why:
Poor eye health can lead to headaches, eye strain and fatigue, to name a few, and this makes it difficult for employees to focus on their daily work tasks. So, it’s no surprise that vision problems can reduce employees’ performance by as much as 20% (1). Not only this, but if someone in your workforce develops a serious eye-related condition, such as migraines, it could lead to increased absenteeism as they’ll need time for treatment and recovery. If you provide your employees with access to regular eye exams and glasses, if needed, you can boost their daily output at work and reduce the chances of them needing time off work.
In today’s competitive job landscape, a comprehensive benefits package can make all the difference. A staggering 67% of 18–34-year-olds would walk away from their current job if another prospective employer offered them better benefits (2). This shows the growing need for companies to prioritise their employee benefits strategy, not just to attract new talent, but also retain their current workforce.
A recent study found that 75% of employees consider vision benefits as very important and value them just as much as dental care (3). This suggests that a compelling benefits programme needs to go beyond the basics and focus on supporting overall employee wellbeing. By aligning your offerings with employee’s wants and needs, you can reduce turnover costs and create a more engaged workforce. Failing to address the expectations of your employees could result in dissatisfaction and decreased morale.
As mentioned above, leaving vision problems untreated can result in more severe cases down the line. Eye conditions, such as glaucoma and cataracts, can be extremely expensive to treat and a significant portion of these costs would come from insurance premiums or direct medical expenses. By catching and treating issues early, employers can reduce their overall healthcare expenses.
At EyeMed UK, we often say that managed vision care isn’t a nice-to-have, it’s a must-have. The reason for that is for roles that involve digital screen equipment (DSE) or exposure to hazardous environments, then employers are obligated to provide regular eye exams, and if required, glasses. Employers who offer eye care benefits can ensure they are compliant with DSE legislation and minimise the risk of legal issues and potential fines.
Flexible Plan Options: Flexibility in optical benefits is crucial for addressing the diverse needs of your employees. A one-size-fits-all approach simply doesn’t work for managed vision care. It’s important to choose a provider that offers a wide range of options, so employees aren’t confined to a single optician chain or location. While a strong network of major retail opticians is valuable, working with a provider that also includes local and independent opticians can significantly enhance access. This ensures that all employees, regardless of their location or preferences, can easily obtain high-quality eye care. By offering more choice and flexibility, you not only improve employee satisfaction but you can also increase engagement and utilisation of the benefit.
More than half of workers with vision care benefits wish their employers provided more helpful information on them (4). EyeMed UK’s digital member portal is designed to enable employees’ easy access to all the information they need when it comes to their vision benefits. In addition, our team offers educational workshops and wellbeing events to highlight the importance of vision care and demonstrate how employees can fully utilise their EyeMed UK membership.
It’s important to work with a managed vision care provider that takes the time to deeply understand your organisation’s unique needs to create eyecare solutions that integrate seamlessly with your broader health and wellbeing strategies. EyeMed UK provides tailored education, flexible plan options, and open communication channels. We invest in the long-term wellbeing of all our clients’ employees, instead of being just another number in their phone book.
Investing in managed vision care is more than just a cost; it’s a strategic investment in the health and productivity of your workforce. The ROI extends beyond immediate financial savings, encompassing long-term gains in employee wellbeing, satisfaction, and overall company success.
Learn more about how much your vision plan is saving or could save your organisation. Visit our contact page to speak with the team.
