Looking for a way to keep insurance costs down? Making sure
your employees are as healthy as possible is a good place to start. And for
many companies, that means establishing a wellness program in addition to their
health plan.
What's the difference? While health plans focus primarily on
care of disease, wellness plans are squarely focused on preventing disease --
and their concomitant healthcare costs. Given the skyrocketing costs of
healthcare, incorporating a wellness program can be a smart financial move for
many companies. In fact, studies have found that on average, healthcare costs
can be reduced by more than $3 for every $1 spent on wellness programs. And
while it used to be that wellness plans were only offered by major companies,
many insurance carriers now offer plans that are affordable for small businesses
too.
Most carriers offer some flexibility in the level of
wellness benefits they provide, but most plans include:
·
health education
·
screening for specific risks such as high blood
pressure and high cholesterol
·
nutrition counseling
·
fitness programs
·
stop-smoking programs
·
health club membership subsidies
Wellness programs have also been associated with a decrease
in both workers compensation and disability claims as well as lower rates of
worker absenteeism.
Encouraging employee buy-in
Because wellness programs are typically voluntary, providing
incentives can be a great motivator to get employees to participate. Incentives
might include promotional items like t-shirts or lunch bags, as well as more
costly items like gift cards to local businesses or online retailers. You might
also consider a tiered reward program based on the level of participation or
consider implementing a contest with different prize levels. Even with the cost
of incentives added in, wellness programs still offer significant savings when
compared to the relative costs of healthcare services and losses due to
employee illness.
And of course, there's another benefit: Adding a wellness
program is an important step in maintaining employee morale. To learn more
about wellness programs, contact your insurance rep today.