Workplace Wellness Is A Smart Investment
55% of Americans receive health insurance through employers who pay nearly three-quarters of premiums.
Poor employee health leads to:
- Lost employee time. 45 million avoidable sick days every year, which is the equivalent of the working population of Salt Lake City calling in sick every day for a full year.
- Lost revenue. $1.900 to $2.250 in lost revenue per employee every year.
- Strain from chronic conditions. 3/4 of money spent by private insurance goest to treat people with chronic illness.
Employers can improve employee health by:
- Sponsoring wellness programs.
- Promoting quality reports on doctors & hospitals.
- Implementing value-based benefit design.
- Joining a business health alliance.
Health improvements result in:
- Employers save money: 1) Fewer lost work days; 2) Slower premium growth; 3) Change how they pay for care.
- Employees are healthier: 1) Right care at the right time; 2) Participate in wellness programs; 3) Better partners with health care team.
- Employees save money: 1) Reduced co-pays.premiums; 2) Avoid unnecessary care.
- Health care providers respond: 1) Motivates doctors and hospitals to provide high-value care.
Source: Robert Wood Johnson Foundation.