In today’s economic environment with insurance premiums increasing by double digits is there something businesses can do to try and make that increase as low as possible. Studies on Wellness Programs are showing that by helping employees be healthier, insurance premium increases have not been as drastic. Not only have wellness programs helped with insurance premiums but it has reduced absenteeism and presenteeism and has increase the overall productivity.
According to the article in the Journal of Legal Medicine “Don’t Let Them Eat Cake: Implement a Government-Sponsored Wellness Program that Utilizes Tax Credits to Promote Healthy Behaviors” obesity followed by smoking and drinking are tied to many chronic medical conditions. Obesity itself …show more content…
They found that even though 93% of small business say their employee’s health is important to their bottom line only 22% offer wellness programs. 49% of small business owners who offer a wellness program say it has positively impacted their bottom line, and 35% who do not offer a wellness program believes by implementing one would help their bottom line. In Don’t Let Them Eat Cake large companies with wellness programs insurance premiums only increased by 2 – 3% as opposed to 12 – 15% when they did not have a wellness program. The annual rate of return can average between $3 to $15 per dollar invested. The World Economic Forum study estimates that success work employer wellness programs can $700 per employee per year. The Patient Protection and Affordable Care Act in 2014 allocated $200 million in the form of wellness grant for small businesses(fewer than 100 employees). This provision is for five years.
According to “Workplace Wellness Programs Can Generate Savings” by Katherine Baicker, David Cutler and Zirui Song business with wellness programs medical costs fell by $3.27 for every dollar spent. It also produced a $358 in savings through reduced health costs per employee while costing the employer $144 per …show more content…
Absenteeism cost business lots of money $15.7 billion annually for managers and upper management and $8.1 billion annually for office and clerical workers. The Bureau of Labor states that 21% of employees miss work because of personal health needs. If employers implemented wellness programs that target tobacco use, promote heatlthy nutrition, encourage exercise and reduce stress. Have proven to reduce the amount of time off needed personal health reasons. These type of wellness programs also help with presenteeism – decreased productivity due to health problems while present at work. Presenteeism is exhibit by employees who don’t eat well, who don’t exercise regularly, with high blood pressure, high cholesterol, diabetes, depression, asthma and knee and leg pain. Absenteeism cost fall by $2.73 for every dollar spent on a wellness program.
Not all wellness programs achieve this level of success. Like anything they need to be setup correctly to be success the health advocate and seven steps to implement a successfully program
1. Assemble a
According to the article in the Journal of Legal Medicine “Don’t Let Them Eat Cake: Implement a Government-Sponsored Wellness Program that Utilizes Tax Credits to Promote Healthy Behaviors” obesity followed by smoking and drinking are tied to many chronic medical conditions. Obesity itself …show more content…
They found that even though 93% of small business say their employee’s health is important to their bottom line only 22% offer wellness programs. 49% of small business owners who offer a wellness program say it has positively impacted their bottom line, and 35% who do not offer a wellness program believes by implementing one would help their bottom line. In Don’t Let Them Eat Cake large companies with wellness programs insurance premiums only increased by 2 – 3% as opposed to 12 – 15% when they did not have a wellness program. The annual rate of return can average between $3 to $15 per dollar invested. The World Economic Forum study estimates that success work employer wellness programs can $700 per employee per year. The Patient Protection and Affordable Care Act in 2014 allocated $200 million in the form of wellness grant for small businesses(fewer than 100 employees). This provision is for five years.
According to “Workplace Wellness Programs Can Generate Savings” by Katherine Baicker, David Cutler and Zirui Song business with wellness programs medical costs fell by $3.27 for every dollar spent. It also produced a $358 in savings through reduced health costs per employee while costing the employer $144 per …show more content…
Absenteeism cost business lots of money $15.7 billion annually for managers and upper management and $8.1 billion annually for office and clerical workers. The Bureau of Labor states that 21% of employees miss work because of personal health needs. If employers implemented wellness programs that target tobacco use, promote heatlthy nutrition, encourage exercise and reduce stress. Have proven to reduce the amount of time off needed personal health reasons. These type of wellness programs also help with presenteeism – decreased productivity due to health problems while present at work. Presenteeism is exhibit by employees who don’t eat well, who don’t exercise regularly, with high blood pressure, high cholesterol, diabetes, depression, asthma and knee and leg pain. Absenteeism cost fall by $2.73 for every dollar spent on a wellness program.
Not all wellness programs achieve this level of success. Like anything they need to be setup correctly to be success the health advocate and seven steps to implement a successfully program
1. Assemble a