Posted in: AprilWellness program at no cost to you.
“ By adding just a few extra dollars to your employees’ health care premiums each month, your organization can get a best-in-class wellness solution…lowering health care costs, reducing absenteeism, and increasing productivity.”
Don’t have enough money to invest in a wellness program? You do if you build the cost of your wellness initiatives into your employees’ health care premiums. By setting health care premium contributions slightly higher for employees who do not want to participate in wellness programming, you can subsidize the program for those who are willing to take part and actively work toward lowering their health risks. This cost-neutral approach immediately rewards participation and facilitates early and fast adoption of wellness principles setting the stage for long-term success.
Larry Chapman, MPH, and Editor of The Art of Health Promotion, calls this the “play or pay” approach. Chapman also recommends using a similar tactic when dealing with incentive funding, which can sometimes lead to a $600 to $1,200 annual reward for the wellness “players.” With this type of incentive offering, you can expect higher levels of participation which will drive risk reduction when implemented with other wellness “best practices”—ultimately resulting in higher and earlier rates of economic return.
By adding just a few extra dollars to your employees’ health care premiums each month, your organization can get a best-in-class wellness solution through the premier provider for small and mid-size organizations—Total Well-Being in partnership with Mayo Clinic Health Solutions. The wellness program will be funded entirely by your employees while your organization saves money through lower health care costs, reduced absenteeism, and increased productivity.
Most literature shows a wellness return on investment (ROI) at around 3:1, while some cite even higher rates of return. A recent article in the American Journal of Health Promotion states that “best practice approaches have positive ROI on health care costs.” In addition, most studies on ROI do not account for the savings that result from productivity outcomes such as lower absenteeism, fewer worker’s compensation claims, and improved work performance. Aldana et al. documented economic returns using absenteeism data that indicate wellness participants take three fewer days off, resulting in a cost savings of $15.50 for every dollar invested in wellness.
The bottom line
The return on a wellness program can be substantial if properly implemented and promoted. The return equates to money saved with the added benefit of a healthier and more productive workforce.
Total Well-Being specializes in implementing best-in-class wellness solutions for small to mid-size organizations. We can customize and implement a cost-neutral program for you today.
Aldana SG, Merrill RM, Price K. et al. Financial impact of a comprehensive multi-site workplace health promotion program. Prev Med. 2004; 40:131-137. Chapman L, Closing thoughts. The Art of Health Promot. 2009; 23(4):11-12. Sexter S, Gold D, Meraz A, Gray A Do employee health management programs work? The Art of Health Promot. 2009; 23(4):1-8.
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