September 04, 2014 Business Resources

It Pays to Keep Employees Healthy

It’s no secret that healthy employees are productive employees. In the first quarter of 2014, health care spending jumped 10 percent, which is the biggest quarterly increase since the 1980s. Some experts say that the Affordable Care Act (ACA) is the reason, even though it was designed to reduce health care spending.

How workplace wellness can benefit the employer
One way that employers are trying to rein in spending is by implementing and enhancing workplace wellness programs. This includes flu shot clinics, smoking cessation programs, health screenings, fitness challenges, and several other initiatives.

Payroll and benefit processing company ADP reported that in 2013, 79 percent of large employers and 44 percent of mid-sized employers offered wellness programs. Studies show that companies that provide these programs are seeing a return of up to $6 for each dollar spent. For example, Bank of America saw a return of $4.73 to $5.96 for each dollar it put into employee health initiatives, and DuPont had a return of $1.42, along with a 14 percent decrease in illness- and injury-related absences.

Programs that increase workplace wellness
Employee wellness programs will not improve health outcomes overnight; rather, they help companies stay more attuned to the health and wellness of their workforces. Over time, as companies offer healthier cafeteria options, free or reduced gym memberships, on-site health screenings, or other programs based on their employees’ needs, employee health, employee morale, and the employer’s bottom line will be positively impacted. When employees are passionate about health and fitness, they’re able to concentrate and get more work done. Conversely, when employees are in poor health, their performance suffers.

In some cases, companies are no longer leaving it up to employees as to whether they will participate in wellness programs. Some have even gone so far as asking workers to complete health assessments and smoking attestations. If an employee refuses, he or she might have to foot the bill for higher premiums or a larger deductible.

CDPHP health plans are designed to offer the best coverage for your employees in the most cost-effective way possible. All our plans are compliant with ACA regulations, and you can select the value-added benefits that best suit your workforce. In addition, offerings like health and wellness workshops and various wellness solutions are available to help you and your employees increase your company’s bottom line.

 

Photo by ftmeade / CC BY

John D. Bennett, MD, FACC, FACP
About Author

John D. Bennett, MD, FACC, FACP, is president and CEO of Capital District Physicians’ Health Plan, Inc. (CDPHP), an award-winning, physician aligned, not-for-profit health plan based in Albany, NY. Bennett has held the position since 2008 after serving more than 10 years as chair, vice chair, and board member for CDPHP. During his tenure, CDPHP has been ranked among the top-performing health plans in New York and the nation, most recently named #1 in Customer Satisfaction in the J.D. Power Member Health Plan Study 2021. Under his leadership, CDPHP has also become known as a model employer regionally and nationally, and was recently named among the top three Best Companies to Work for in New York by the Society for Human Resource Management, as well as Forbes Best-in-State Employers 2021. Prior to joining CDPHP, Bennett served as founding member and CEO of Prime Care Physicians, PLLC. During his tenure, he co-led a team of 25 cardiologists and helped grow the practice to a 100-physician multi-specialty group. Bennett is board certified by the National Board of Medical Examiners and the American Board of Internal Medicine, with subspecialties in internal medicine and cardiology. He earned his medical degree at SUNY-Downstate Medical Center, Brooklyn, and a Bachelor of Science degree at Rensselaer Polytechnic Institute. Bennett completed an internship and residency in internal medicine and a fellowship in cardiovascular disease at Albany Medical Center. He is a Fellow of the American College of Cardiology and the American College of Physicians. Bennett is currently board chair for the Center for Economic Growth, and vice chair for the Palace Theatre. Bennett also serves on the boards of the Capital Region Chamber, the New York eHealth Collaborative (NYeC), the Alliance of Community Health Plans (ACHP), America’s Health Insurance Plans (AHIP), Rensselaer Polytechnic Institute, and Russell Sage Colleges. Bennett is a member of the New York Public Health and Health Planning Council, where he helps shape decisions related to New York State's public health and health care delivery system. Well-known locally and nationally for advancing health care innovation, Bennett was recently named to Crain’s New York Business 2021 Notable in Health Care, as well as the Albany Business Review’s Power 50 list.

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