Paying for Employee Health
What are Your Real Costs?
 

As the healthcare crisis in our country continues to escalate at an even greater pace than originally predicted, the loser still seems to be you, the employer. Whether your company is large or small, you are paying health insurance premiums that are ever increasing. While your employees are enjoying the benefits of good, comprehensive, (and expensive) coverage, they are still getting sick and you wind up losing valuable production and profits.
 

It may not seem fair that it’s your job to keep your employees away from fast food, smoking, and inactivity. And your employees may resent your intrusion into their routines and assessing their health risks. However, when you are the one footing the bill for insurance coverage for sickness care, there is little incentive for employees to change their ways. Wouldn’t it make more sense to provide a health insurance plan where your employees are rewarded for making proactive health choices?
 

What is the missing piece of the health care puzzle?
 

The trend today is wellness. Your company may even be among those who have initiated wellness programs that include blood pressure and cholesterol screening, weight loss, smoking cessation, fitness promotion, and stress management. You expect great results, wanting your employees to be healthy and vigorous, but they still come in with migraines, digestive problems, and are depressed.
People’s habits are hard to break. Insurance utilization remains high and your return on investment for all your health initiatives may not live up to your expectations. You wonder, “What more can I do?”
 

Consider health-promoting health care that rewards you with lower premiums

Medical care concentrates more on treatment of symptoms and less on eliminating the cause of health problems. And most health insurance doesn’t cover services provided by other health practitioners. The unfortunate result is that people will choose the treatment that costs them less, regardless of the health consequences. Here are a few examples. 
 

Dental care certainly is necessary for health, but even with dental plans, there is little coverage for crown and bridge, implants, periodontal, and orthodontic services. Without the money to pay for this, people often neglect this area. Your employee may pay in spades later for this lack of treatment with weight problems, headaches, pregnancy complications, or even a heart attack.
 

Chiropractic care and Acupuncture can often help with so many health complaints without the side effects (and costs) of prescription medications. Most traditional health plans severely limit or completely exclude these health-promoting services.
 

Psychological services are another health benefit that seems to have inadequate insurance coverage even though stress reduction, mood elevation, and restful sleep (without the use of drugs) positively affect employee health and productivity.
 

Provide a health plan that pays for health and everyone is a winner!
 

You want lower premiums but ample coverage for catastrophic health. You want to decrease absenteeism and have a more productive workforce. You want to promote wellness yet not meddle in your employees’ lives. The solution is responsible proactive health and it comes in the form of Health Savings Accounts (HSAs) and other Consumer Driven Health Care options. 
 

The motivation is in sufficient health insurance coverage for hospitalization and tax-favored funds to pay for health promoting products and services. There are current plans to expand the eligible services allowed by the IRS. Besides contributing to a healthier, more productive workforce there are financial advantages for the employer:
 

1. Cut insurance premiums by as much as 50%
2. Save on payroll and unemployment taxes when employer makes contributions into the Health Savings Account
 

Employees have their choice of health providers, accumulate tax-free interest, and roll over unused funds that can be used for planned future health expenses or saved (like an IRA) for retirement. The cost of healthcare in our country definitely cuts in to the profitability of companies of all sizes.
 

Find out more about Health Savings Accounts (and other Consumer Driven Health Plans). You can save thousands of dollars every year and have a happier, healthier, and more productive workforce.

Dr. Andrea Brockman