The Perfect Match – Employee Wellness and High Deductible Health Plans
Consumerism and healthier lifestyle choices are important in lobbying for more affordable health care. The prolonged economic downturn has forced employers to take a close look at the rising cost of health care. Employers are instituting strategies that encourage employees to take responsibility for their own health.
An employee wellness program coupled with a high-deductible health plan, backed by a Health Savings Account (HSA) or Health Reimbursement Arrangement (HRA), offer a solution. These health plans also referred to as Consumer Driven Health Plans. The underlying principle is to engage the employee in personal health care.
Employee wellness programs encourage healthy living through health education and support. Wellness program participants gain access to the tools and resources needed to make positive change. Employers that support the well-being of their workforce create a healthier, more productive and sustainable work environment.
Additional benefits of a worksite wellness program include:
- recruitment and retention of healthy employees
- decreased illness and injury
- reduced absenteeism rates
- improved employee relations and morale
- increased productivity
- overall reduction in health care cost
The health care spending account (i.e.,HSA, HRA) is used to pay for qualified medical expenses both covered and not covered under the insurance plan. Employees can maintain health care benefits and continue to access their providers. The health plan allows employees to determine the best use of their benefit dollars and decide what care and treatment to receive. A more economical approach to the expenditure of health care dollars will develop. The employer benefits from a significant premium reduction. Savings can be applied to fund wellness programs which will lead to a greater return in the long term – and have net savings.
Numerous health plan options are available and there are creative ways to design an effective wellness program. The overall goal of integrating wellness and a high deductible plan, supported by an HSA or HRA, is to save money on health care cost and promote a healthier environment and attitude.
Contact Jennessa Bissonnette at Workforce Wellness for more information at 800-544-8434 or email jbissonnette@slgl.com.
The Value of a Health Risk Assessment
For all of us, lifestyle choices made today are an investment in long-term health. The success of an organization depends on the health and productivity of its employees. Behaviors such as lack of exercise, smoking, and poor diet are among the risk factors that increase the chances of becoming ill. Employers who take the steps to improve employee health experience an increase in productivity and a boost in morale. Health care costs and absenteeism are typically reduced. One simple step that can assist in this process is offering employees a Health Risk Assessment (HRA). An employer can benefit from the results of a HRA.
What is an HRA? The HRA is a confidential health questionnaire used to identify personal health risks. The HRA asks basic questions about health habits and history. Employees fill out a survey. The assessment generally takes about 15-minutes to complete.
The standardized form of the HRA allows for an overall evaluation of the participant’s current health status based on factors such as sleep, fitness, stress management and nutrition. Participants receive an in-depth personal report upon completion of the HRA survey. The report is in a format that is easy to understand. An overview of the participant’s current health status is given. The report educates about how to make positive and lasting lifestyle changes.
Aggregate HRA results may be used by the employer to promote employee health and address specific health risks. Offering health screenings, education and risk reduction activities creates awareness and supports healthy behavior change.
Research shows that poor health practice and the existence of health risks have a significant impact an organization’s bottom line. Taking steps to protect and improve the health of your employees is good business. This can pay off in lower health care costs, less sickness and lost work time, improved productivity, and increased morale. Health behavior research has shown that helping people identify threats to their health encourages the process of healthy change.
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