There are many outstanding benefits of wellness programs, like reduced stress and improved productivity, but one of the most important benefits is often overlooked: the positive effect they have on company insurance. Wellness programs can help reduce insurance costs in a multitude of ways— we’ll share a few of them now!
Reduced Costs for Employees
Wellness programs not only help employees manage stress, boost morale, and stay on the path to great overall health, but they also can positively impact insurance costs. Though it depends on the program, most companies require a risk assessment test to determine the state of overall health for program participants.
Why? Well, this assessment can help employees save on their personal and company insurance costs through premium discounts for overall good health and a tobacco-free lifestyle. Additionally, it can also help employees identify their health coverage needs, allowing them to possibly choose a better plan for them at a better price.
Even better, wellness programs help employees meet and exceed goals for a healthy lifestyle. This is beneficial for employers AND employees. A healthy lifestyle means healthier employees who spend less time and money on doctor visits, prescriptions, and hospital stays, improving productivity and reducing unexpected time off.
Reduced Costs for Companies
The less time employees spend at the doctor’s office, the hospital, or at home on sick days, the more time they’re spending at work. This fact, combined with the boost in morale, reduced stress, and sense of community built through wellness programs, creates one big benefit: increased productivity. It’s no secret that increased productivity is the key to unlocking a better bottom line and a high ROI, which is why wellness programs are a crucial component to company success.
Skeptics wonder whether or not exercise-focused wellness programs really do benefit companies on insurance costs. The answer? They do! Lifestyle-focused programs are shown to reduce company insurance costs in the long term, with disease management wellness programs providing the same benefits in the short term.
You can get the best of both worlds with a lifestyle or exercise-focused program that incorporates activities such as yoga or a number of educational workshops that help educate and change behavior. These programs can help heart-disease patients. These specifically targeted programs bring both long-term and short-term benefits to a company as well as its employees— it’s a win/win for everyone.
How Fitspot Can Help
Fitspot is an industry leader providing dynamic and effective wellness programs for many corporations, including NCR and Livestrong. We pride ourselves on our expert customization for every team and work to bring success plus the many benefits of wellness programs to a multitude of companies.
Ready to implement a wellness program for your team? Let Fitspot create the perfect program just for you!
Jonathan is the Co-Founder and CEO of Fitspot. He co-founded Fitspot in 2016. As any CEO, he is doing anything from fundraising to closing deals, to planning for the future of Fitspot. Jon is a pizza aficionado who’s on the hunt for the best slice of pizza in NYC.