Sunday, April 22, 2012

The (Dollars and Cents) Value of a Wellness Program


As we have been discussing these last few weeks, cost (or the fear of it) is a major barrier to small businesses really committing to a wellness program.  Benefits are reflected as expenses on corporate balance sheets, and in tough economic times, they can become glaring expenses.  

But as Catherine Rudat titled her article in Corporate Wellness Magazine, "corporate wellness doesn't just save money; it makes money".  Too good to be true?  Actually, it’s black and white finances that will also reflect on your company’s balance sheet.  And when you partner with Complete Benefit Solutions, it becomes a no-brainer. 


Ms. Rudat puts it this way in her article:

“[If your company currently provides major medical insurance, t]he obvious savings are via reduced claims.  Healthy employees need less medical attention.  A low ball estimate points to at least 50 percent of healthcare costs being attributed to preventable illness. 

Looking at the risk factors – smoking, inactivity, weight gain, depression, high stress, and hypertension being the most referenced – and the fact that most employees spend the majority of their waking hours working, it seems elementary that a workplace health program would mitigate a number of these factors and the associated health issues [and] costs.

Of course, healthy employees are also more alert and engaged, tending to work more carefully and with better focus, resulting in fewer accidents and reduced disability claims, stabilizing or even shrinking disability insurance.”



The results of a recent four year study published in the American Journal of Health Promotion shows an actual dollars and cents value to corporate wellness programs.  The study found that companies who consistently offered a wellness program to their employees experienced a 15% slower rate of increase in health care costs.  This translated to an average savings of $332 per wellness program participant.  Could your company use these kinds of dollars, say for other business expenditures or a raise for the smart HR person who realized what this would mean? 

At Complete Benefit Solutions, we know that understanding the importance of a need doesn’t make taking the next step any easier.  That’s why we have taken all of the hassles and confusion out of employee benefits, and created a streamlined process that makes offering benefits and managing enrollment a breeze. 

Rising health care costs and absenteeism are real drainers on corporate finances.  Companies are sometimes shocked to realize the real cost.  Don’t get trapped into inaction because of costs or other concerns –  we can help!  We will show you up front how we can make a monetized difference for you, your HR department, your employees, and your company’s bottom line.  And if we can’t help, we will tell you that too – up front. 

Contact us today, and let’s get started on your customized employee benefits program.

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