Benefits are a critical part of the employees’ compensation. While most people usually say they would like a fair salary, they rarely talk about the benefits. These benefits include health insurance, life insurance, privileges, and memberships. Employees need all of these benefits and sometimes they aren’t even aware they need them.
The world is changing towards the gig economy and more people are foregoing these benefits. For instance, if you drive an Uber or work at a freelance site, you will be compensated in cash with no benefits offered.
The creators of AllCare have been in the benefits industry for more than a decade. As a result, they understand how important it is to have benefits. Benefits often endear employees to their employers and help them meet their needs. These benefits impact the lives of employees in a positive way, giving them peace of mind. The current challenge is how to move those benefits so that those in the gig economy can benefit from them.
AllCare Benefits And The Blockchain
The developers of AllCare discovered the best way to spread benefits to those outside traditional employment to use the blockchain. One of the reasons why benefits are so hard to acquire for those in the gig economy is cost. When bought in retail, these benefits can be quite costly. For instance, the cost of premium health insurance for an individual is almost twice as high as that of a person that gets it from a 2000-strong company.
The reason for this is that large companies can get a better deal due to their sheer numbers. Besides that, the cover is given to a group of employees that have varying health needs. Thus, the provider can spread risk, which helps to reduce the cost of the premiums.
The AllCare Blockchain Freelancer Healthcare Benefits Solution
However, those in the gig economy can enjoy these benefits if they band together. Consequently, they can create an aggregate body, which is able to negotiate on their behalf. If ten thousand freelancers come together for negotiations, it will allow them to utilize the economies of scale. Thus, they can lower the prices by even more than half. The reason for this is that those in the gig economy also happen to be quite young, which means they have lower health risks.
The blockchain is perfect for aggregating this concept in an efficient manner. Besides that, it ensures that each member can be verified and is qualified. It also confirms that the details of identity supplied are genuine. This also gets rid of intermediaries, which can help to lower costs by as much as 20%. That’s why the developers created ALLCARE. A solution will allow freelancers to enjoy quality care at prices equal to or lower than those offered to corporate employees.