Employee Benefits - The 5 Benefits of a Wellness Plan

Employee wellness plans are becoming some of the most sought after types of Ohio employee benefits. These plans, often put in place alongside health insurance coverage, encourage employees to live a healthier life. The University of Michigan studied one such program over a nine-year period. Researchers found that the wellness program saved the company $4.8 million in employee health benefits as well as lost work time in that period. There's definitely a benefit in offering such a program.

What are the benefits? Consider the following to determine if this program could affect your business' bottom line and employee satisfaction.

#1 - Cost Savings

Some insurance providers reduce the upfront cost of health insurance if the employer agrees to encourage (or in some cases mandate) wellness programs within the company. This may be a percentage discount, for example, on the total cost of the health insurance package. Just by getting employees involved, it's possible to save money.

#2 - Health Benefits to Employees

Healthy employees are those that do not call off or miss long periods of work due to health factors. For example, employees who are fit rather than overweight are less likely to suffer complications to their health in the long run. This benefits the employee, of course, but also the employer. He or she is less likely to need to replace ill employees or pay overtime to others.

#3 - Employees Receive Access to Assessment Tools

Many employees skip doctor's appointments or physicals because they don't want to foot the bill for this type of care. Many times, this cost saving method on the employee's behalf means health conditions are undiagnosed until they become severe. However, with a wellness program in place, employees have access to screenings, blood tests, weight monitoring and other services that the wellness program provides. In the end, this provides a key benefit to any employee who wants to better his or her health.

#4 - Incentives Encourage Employees

Employers who want employees to engage in these programs often use incentives to encourage it. This may include offering a bonus to employees who complete a health assessment. They may receive a larger benefit for attending workshops, achieving health improvement, or getting health coaching. Employees benefit from the incentive and the employer benefits from having a healthy staff.

#5 - Improved Bottom Line

According to the US Department of Health and Human Services, a wellness program can do much more. It can reduce overall healthcare costs to employers by as much as 55 percent. It can increase the productivity of those participating workers by as much as 52 percent. It can even reduce the amount of sick leave an employee takes by up to 32 percent.

Though health insurance may be a requirement for employers to pay, wellness programs can be an outstanding benefit that comes alongside these insurance programs. Employees benefit from the health services (getting aid when they are not sick is something many don't do.) Employers benefit from healthy employees who are happy with the company's plans and policies. For more information, contact a Gardiner Allen DeRoberts Insurance agent today.

Are Part Time Employees Entitled To Employee Benefits?

According to the Bureau of Labor Statistics, employees of large and medium businesses in the U.S. had greater access to employee benefits as of March 2012 than workers of small businesses. The question is; are part-time employees who did not enjoy these benefits entitled to the same? The answer is neither a straight yes or no, but it depends on a variety of factors.

A recent survey by the Health Research & Educational Trust and the Kaiser Family Foundation shows that approximately 45% of large firms (at least 200 workers) included health insurance as one of the benefits to their part-time employees in the year 2012. This is a 6 point increase from the figures of 2010. The same survey shows that premiums benefits for part-time employees are also on the increase.

Although the United States do not have laws that require firms to offer specific benefits to their part-time employees, many businesses are increasingly finding it beneficial to do so. Statistics seem to show that small businesses do not offer employee benefits as much as large businesses, the small ones stand to benefit from this practice more. Offering part-timers benefits is a good way of motivating them. In fact, it is also a useful tool for attracting top professionals who might otherwise stay away from small firms because of inadequate remuneration packages.

Firms that intend to offer their part-time employees benefits should consult with labor attorneys before commencing the practice. The department of labor can also be a useful starting point for those who wish to streamline their employee benefits. The next step after that is to determine exactly the minimum number of hours an employee must work each week to be labeled as a part-time employee. It is also a common practice to set the eligibility requirements one must meet before receiving the said benefits. For example, some businesses only offer benefits to employees they have had for at least three months.

Right now, there are regulations in the pipeline that will soon be used to streamline employee benefits for part time employees. It would be a good idea to start implementing some of these things before they are mandated by law, as that would help with smooth transition. An earlier adoption will also help firms to gauge the effects of offering these benefits to employees to a company.

For those who are planning to start offering benefits to part-time employees, it is best to ease into the transition slowly. Starting with easy and inexpensive benefits is a good idea, but most employees will still be grateful for them. Something like reimbursement for health club memberships is a good way to start. With time, other benefits may be added until the full package (as determined by the employers) is available to the part-time employees. If you need guidance on how to handle Ohio Employee Benefits or any other related issues, do not hesitate to call a Gardiner Allen DeRoberts Insurance agent today at 614.221.1500.