Americans are eating a lot of junk these days. Unfortunately, it’s impacting business as much as beltlines.
To quote the Wall Street Journal’s “The Fat of the Land” column, which points out that 30% of American adults are currently obese, “a fatter and sicker workforce is a drag on economic growth. In effect, we’re eating money.”
Its Aug. 1 article goes on to shed light on the escalating statistics and staggering financial data behind the obesity epidemic as well as potential government policies and pilot programs now being tested in the public sector. It also references a study released in July by Health Affairs, where CDC researchers estimated that obesity slammed the U.S. with $147 billion in medical costs in 2008.
That’s adding a lot of “fat” to our government and taking a huge bite out of business profits. And yet, obesity is a very preventable chronic condition.
“Affordable healthcare.” Isn’t that an oxymoron?
If you’re tasked with finding affordable healthcare for your business, you should consider supplementing your traditional insurance with a program that keeps your premiums in check. Typically, when businesses approach us about wellness, they have two targeted interests: 1) a reduction in healthcare costs and, 2) healthier, productive employees. Both are admirable goals but they should be reversed in priorities because a healthier, productive workforce will, by definition, be less costly in terms of health care dollars spent.
Given that companies will pay an average of more than $9,000 per employee for health care, and estimates that 70-75% of all illnesses are attributable to lifestyle-related causes, the right wellness program for your business can mean a huge savings.
As Wendy Lynch, Ph.D. and executive director at the Health has Human Capital Foundation has said, “Proof of the connection between business and health is closer than ever before. If healthy workers get the job done better, faster and cheaper, it will matter.”
If that’s not persuasive enough, check out these findings from organizations like the Indiana University-Purdue University Indianapolis (IUPUI):
- Companies save $1200 for employees who reduce their cholesterol levels from 240 ml to 190 ml
- Individuals who are overweight incur up to $1500 more in annual medical bills than
those who are healthy-weight - Companies can save $269 a year for every employee who begins an exercise program
- 87.5% of health care claims costs are due to an individual’s lifestyle
My recommendation to any company trying to manage healthcare costs is to talk to your workplace resources provider about program options, costs and measurable results for your business. Finding a program that works is the key. “Cookie-cutter” programs only look good on your employee recruitment brochure, not your balance sheet. But tailored programs, designed to address the specific health changes of your employee population, have real ROI.
Wellness can help prevent obesity and other illnesses from eating your bottom line. That’s something your businesses’ C-suite should really sink its teeth into.
Tags: C-suite, fat Americans, healthcare costs, obesity, Perspectives, Wellness, workplace
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