Posted by Corporate Wellness | Posted in Corporate Wellness | Posted on 06-11-2008
Corporate Wellness Programs and Health Care Costs
Corporate Wellness Programs 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 corporation provided health care keep continuing to grow and it doesn’t seem like it is going to change. The article states that during the year 2008, U.S. organizations can expect to see an increase of 10% in health care costs.
This increase in health care costs is causing some small organizations to reduce their employee health benefits or get rid of them altogether.
Corporate Wellness Programs for Healthier Lifestyles
Corporate Wellness Programs do offer an option for small organizations. The corporations can offer discounted co-pays and deductibles to those workers that fully participate in the provided Corporate 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 health care costs for the corporation. Just one lengthy hospital stay can almost deplete a small business’ health care budget.
Corporate Wellness Programs and Your Bottom Line
Corporate Wellness Programs offer many advantages to a corporation’s bottom-line. Corporate Wellness Program Statistics from Prudential Insurance show a benefit expense of $312 per individual enrolled in a Corporate 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 health care costs overall.