Why are health and wellness programs important to your business?

Employers all over the world are providing successful employee wellness programs for many different reasons.Good incentive programs inspire employees to improve their health and also to encourage others to do the same.Here is some more information about why having a wellness incentive program is important for your business.

One of the biggest reasons an employee incentive program is offered is to lower the cost of medical plans.Research shows that a reduction in employee contributions of $23-30 will provide significant encouragement for employees to participate in the program.Having a reduction in medical plan payments is a great way to incentivize people to stay healthy.This is even more poignant when it is also compared to the amount of money that can be saved on copayments and patient responsibility payments after treatments have been received.

There are other types of incentives that can also be considered for an employee wellness incentive program.These other options require employee participation in the program and will allow them to take advantage of many more benefits.Some of the most common ones are reduced co pays or deductibles on their health plans.Having a lower co pay makes it more likely for employees to participate in the program and also more likely to pursue regular checkups and other health promoting activities.Another option is to have a Flexible Spending Account (FSA) that is a cooperative and partially paid for by the employer to provide medical benefits.This encourages employees to use the money in the account to help ensure that they maintain their good health.Another option that is very appealing to employees who participate in a wellness program is a medical plan that offers a higher level of coverage for medical expense than employees who don't participate in the wellness program.

All of these benefits can really mean a lot to employees and are a great incentive for them to exert some significant effort and remain healthy for their whole lives.These incentives will also provide a reason for employees to stay at the company for a longer period of time and be more loyal to the company.Many decisions are made about what position to accept at which company based not only on salary but also on the benefits that go along with the position.Many people place a great amount of value on a good medical benefits package that will allow them to keep their family safe and healthy.It is difficult to find employees that are willing to make a long term commitment and it seems that employment is getting more and more transitory for most workers.Consider a good employee benefits plan an investment in your business.The better employees feel they are being treated, the more likely they are to stay.Training new employees is very expensive and having a lower turnover rate is near the top of the list for many employers.

The benefits of having an employee wellness program in place are very real and very tangible.It is difficult to quantify them in a short period of time, but they can really help boost the bottom line of the company and provide a good solution to many problems that are encountered in a business.Whenever you are putting a program of any kind in place, make sure that you are putting the proper amount of planning into it and that you are conforming to all the necessary regulations.HIPAA requires that if you are making any kind of program mandatory that you provide an alternative to any requirements that cannot be completed comfortably by any employees.