Employee Wellness Plans in a Depressed Economy
Employee Wellness Plans and Health Care Costs
Employee Wellness Plans are more important now than ever. According to an article in the Wall Street Journal, with the troubles in the economy it seems that the costs of company provided medical care keep continuing to grow and it doesn’t seem like it is going to change. The article notes that during the year 2008, American businesses can expect to see an increase of 10% in medical care costs.
This increase in medical care costs is causing some small businesses to reduce their employee health benefits or get rid of them altogether.
Employee Wellness Plans for Healthier Lifestyles
Employee Wellness Plans do offer an option for small businesses. The corporations can offer discounted co-pays and deductibles to those workers that fully participate in the offered Employee Wellness Program. Full participation means getting health screens, receiving a health risk assessment, and then working with their wellness coordinator to work towards a healthier lifestyle.
The healthier the workers, the reduce the overall medical care costs for the corporation. Just one lengthy hospital stay can almost deplete a small business’ medical care budget.
Employee Wellness Plans and Your Bottom Line
Employee Wellness Plans offer many advantages to a organization’s bottom-line. Employer Health and Wellness Program Statistics from Prudential Insurance show a benefit expense of $312 per individual enrolled in a Employer Health and Wellness Program compared to an expense of $574 per employee that wasn’t enrolled. Coors Brewing Company showed a positive side-effect of participant absenteeism dropping by 18%, thus greater production and less medical care costs overall.
