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.