One of the biggest challenges that companies and corporations face is the rising cost of healthcare. While the cost of insurance benefits and health plans is well-known, there are other challenges that companies face when it comes to supporting employees during a healthcare crisis or medical issue. 

Here are just a few recent statistics that highlight the challenges that employers face: 

• 40% of employees across the United States struggle with healthcare costs. (Source)
• Health-related work losses are estimated to cost US employers more than $260 billion each year and may cost some companies more than direct medical expenditures. (Source)
• Nearly 4 out of 5 employees with high financial stress say medical debt distracts them from work. (Source)
• 50% of workers who report medical debt as a source of stress say they spend at least one hour per week at work dealing with debt-related issues. (Source)

At CaringWays®, we recognize how medical costs impact individual employees and companies as a whole. That’s why we partner with corporations across the country to offer CaringWays® as a way to provide help and hope for their employees. These companies have integrated our customizable platform into their benefits plan in a way that allows employees to support each other during an unexpected health crisis. 

3 Reasons Companies Offer CaringWays® for Employee Medical Expenses 

Here are three specific reasons that our partnership with companies has become a benefit that makes a tangible impact in the lives of their employees:

1. CaringWays® provides simple and secure medical crowdfunding

Every employer or HR director knows what it’s like to sit across from an employee who has just been diagnosed with cancer or experienced a medical emergency. There’s an innate desire to help. But how? Practices like “passing the hat” or offering special benefits can create unintended consequences. 

CaringWays® provides a turnkey platform to show team members you care by offering a simple and secure way to raise the support they need. Built specifically for medical expenses, CaringWays® is different from other crowdfunding platforms. In an effort to make crowdfunding more secure, patients are given a designated CareCard that can only be used for medical bills and healthcare expenses to ensure that gifts go toward their intended purpose.  

2. CaringWays® helps you create a supportive company culture

According to a recent study, 61% of employers said that health and well-being benefits are crucial for achieving one of their primary goals post-pandemic: attracting and retaining talent. And 68% of employees state that debt-related financial wellness benefits are important for an employer to offer. Clearly, it’s a priority for both companies and their employees. 

CaringWays® allows you to meet both priorities by providing a practical way to help employees pay for unexpected medical expenses. In most cases, the medical bills incurred before meeting a deductible are the biggest challenge for employees. CaringWays® helps patients determine a fundraising goal that can help them meet their deductible, but we don’t stop there. We also support patients by helping them cover many of their everyday expenses, such as cooking and cleaning, that become overwhelming during a medical crisis.

Providing employees with this type of financial support highlights your commitment to caring for them during their time of need. 

3. CaringWays® amplifies resources for a greater impact on employee health

Coordinating support for employees takes a significant amount of time, energy, and effort. While everyone understands the importance of caring for others, it can be difficult to set aside time and coordinate the resources to rally around an employee. CaringWays® recognizes that business owners and HR professionals truly care about employees but are often bogged down with other responsibilities. 

Our team makes it easy for companies to implement CaringWays® into their benefits package. We’ve streamlined onboarding to make it easy to implement the program immediately. We also equip employees with resources to maximize the success of their CareFunding campaigns. This ensures employees get the care they need without adding another responsibility for a business owner or HR director to manage. 

Show Your Team You Care with CaringWays®

Providing secure financial support is one of the most valuable ways an employer can be there during a medical diagnosis and treatment. By partnering with CaringWays®, you can help employees eliminate the financial stress of a medical crisis and create a meaningful opportunity for your team to care for each other.

You can learn more about our Corporate Partnerships or connect with our team to offer CaringWays® as part of your benefits package for employees.

Back to Blog