It is unclear how the current healthcare debate, and numerous healthcare bills circulating through Congress, will pan out. But one idea definitely gets my vote: tax credits for businesses that offer wellness programs.
According to Reuters (“Healthcare reform could impact wellness programs”), two-thirds of large U.S. companies already offer wellness programs to lower healthcare costs, reduce absenteeism and boost productivity. I’d like to see those companies, and others that follow suit, rewarded for their leadership and compensated for helping to reduce the overall impact of health costs on our nation.
Furthermore, a tax credit is a great way to support smaller businesses that may want to put wellness programs in place but have not been able to afford them to date. Although they still have to make an initial investment, it offers compensation for taking the initiative.
A tax credit would also act as an incentive that empowers choice. There are a tremendous number of wellness programs available in the market and businesses should have the freedom to select programs that are most appropriate for their employees – like cessation programs for employee populations that smoke, or nutrition and exercise programs for a largely overweight employee population. Each business has unique wellness needs and should be encouraged to invest in programs that have the greatest return on investment (ROI) for their organization.
Yes, businesses with wellness programs in place are already reaping benefits. They are wisely helping themselves by working to reduce their own healthcare expenditures and get more out of employees.
However, a tax credit would enable businesses to keep wellness programs in place during even the most challenging economic times, when they are needed most. It would protect wellness from the chopping block when businesses are looking at only fixed costs vs. the benefits garnered from a healthier workforce. And, it would truly make wellness “programs that pay you back.”
So, as you stay tuned to the ongoing healthcare debate, I encourage you to think about what a wellness program tax credit would mean for your business.
I vote for a healthier America – and giving businesses credit.
Tags: businesses, cessation, Corporate Wellness, employees, exercise, healthier America, nutrition, tax credit, Wellness
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