Corporate Wellness Programs in a Down Economy
Corporate Wellness Programs and Medical Care Costs
Corporate Wellness Programs are more important now than ever. A recent 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 notes that during the year 2008, American companies can expect to see an increase of 10% in health care costs.
This increase in health care costs is causing some small companies to reduce their staff member health benefits or get rid of them altogether.
Corporate Wellness Programs for Healthier Lifestyles
Corporate Wellness Programs do offer an option for small companies. The corporations can offer discounted co-pays and deductibles to those staff members 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 staff members, 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 organization’s bottom-line. Corporate Wellness Plan Statistics from Prudential Insurance show a benefit expense of $312 per individual enrolled in a Corporate Wellness Plan compared to an expense of $574 per staff member 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.
