About Wellness Corporate Solutions

Tuesday, October 16, 2007

Health Insurance Keeps Going Up! What is a Company to Do?

Today's Washington Post reported that companies can expect their 2008 health insurance costs to rise by 6-7%. Premiums will be even higher for small firms. With this sharp increase companies will be forced to explore financing options, including higher upfront premiums for fuller coverage and lower premiums with the risk of more uncovered costs and out of pocket expenses. As costs continue to rise, it makes clear financial sense to incentivize employees to stay well. A simple wellness program with screenings, personal health risk assessment and/or smoking cessation program and team health challenges can cost less than ten dollars per employee per month . "Wellness programs have become measurable tools that supply aggregate information on the health of employee populations" reported Molly Bernhart of Employee Adviser Magazine. Companies can no longer wait before benefits become so expensive they affect the bottom line as well as employee retention. Employers of all sizes can start a wellness program. Ongoing communication, awareness that the company is interested in the health of its employees and long-term commitment to help employees change unhealthy behaviors has shown a big ROI down the road. Employee enrollment in wellness is a must for the future of American business.

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