Midsized companies and employee wellness programs
Over the past year, 70% of midsized U.S. companies experienced a significant increase in the cost of providing employee healthcare and 91% cited controlling these costs as a priority, according to a study from the ADP Research Institute. As these escalating costs impact midsize companies’ ability to compete, an expert panel convened recently to examine how employee wellness programs can empower employers to offset health expenses so they can focus on business growth.
Employers save an average of $ 5.81 for every dollar invested in wellness programs due to improved employee health, according to the American Journal of Health Promotion. The savings are the result of a 27% reduction in employee sick leave, a 26% reduction in health costs and a 32% decrease in workers’ compensation and disability claims.
“Wellness programs are one of the most important, yet overlooked tools for maintaining personal health,” said Dr. Alfred Tallia, Professor and Chair of Family Medicine and Community Health at the Robert Wood Johnson Medical School. “With diabetes and obesity steadily on the rise, there’s no better time to spread awareness about the physical benefits of wellness programs.”
From Health Journal Magazine, January, 2013
We encourage personal wellness programs. What’s yours?
Louis H. Brownstone is the Chairman of Northstar Network Insurance Agency, Inc. and a certified in Long Term Care specialist. Louis is recognized as an industry leader, with articles appearing frequently in California Broker Magazine and other industry publications and events. Read More…