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Wellness Program Analysis

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With an aging workforce and the ever rising cost of health care, companies are looking for ways to help in lowering the cost of their overhead. In the past many companies relied on cutting benefits and shifting the cost related to items such as health care over to the employees. Companies have identified the need for a wellness program as an asset that can help in the alleviating some of the liabilities related to the unhealthy employee. This paper will provide an analysis of the need financial decisions (text) and areas of a wellness program that will provide the grates impact.
While it is hard to motivate an unhealthy life style at any age, A company can lower the cost associated with unhealthy employees, because the cost of a wellness program can have a greater return, with lower lost time will increase productivity, and healthcare cost will lower due to the companies more healthy workforce.
First, a company can lower the cost associated with unhealthy employees though the implementation of a company wellness program. A wellness program is intended to improve and promote health and fitness that is usually offered through the work place or insurance plans. The program allows employer or plan to offer employees premium discounts, cash rewards, gym memberships, and other incentives. Some examples of …show more content…
According to research conducted by Katherine Baicker, David Cutler, and Zirui Song which can characterize the employee wellness programs in two dimensions: the method of delivery and the focus of intervention (Baicker, Cutler, & Zirui, 2010). The method of delivery provides five of the most popular used methods in company wellness programs. Likewise the focus of intervention provides the three most used intervention. Table 1 provides a list of the method of delivery and the focus of intervention and the coinciding percentages of firms that use them (Baicker, Cutler, & Zirui,

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