Company Health & Wellness Initiatives and Healthcare Costs
Company Health & Wellness Initiatives are important now more than ever. According to an article in the Wall Street Journal, with the troubles in the economy it seems that the costs of employer offered medical care keep continuing to grow and it doesn’t seem like it is going to change. The article states 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 worker health benefits or get rid of them altogether.
Company Health & Wellness Initiatives for Healthier Lifestyles
Company Health & Wellness Initiatives do offer an option for small businesses. The corporations can offer discounted co-pays and deductibles to those staff members that fully participate in the offered Company Health & Wellness Initiative. 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 staff members, the lower the overall medical care costs for the corporation. Just one lengthy hospital stay can almost deplete a small business’ medical care budget.
Company Health & Wellness Initiatives and Your Bottom Line
Company Health & Wellness Initiatives offer many advantages to a corporation’s bottom-line. Health Promotion Statistics from Prudential Insurance show a benefit expense of $312 per individual enrolled in a Company Health & Wellness Initiative compared to an expense of $574 per worker 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.
