March 2016

Wellness Leads to Better Business & Higher Profits

By March 16th, 2016   Wellness

A healthy, thriving workforce makes for a healthier business. Investing in health reduces health care costs, improves productivity.

Alternatively, poor health is bad for business. Chronic disease drives health care expenditures, which cuts into productivity and profits. Consider

  • 67% of our workforce is overweight
  • 1 in 4 has heart disease
  • 1 in 3 Americans has high blood pressure
  • $73 billion is the annual cost of obesity among full-time employees
  • $15s billion loss to employers annually due to absenteeism from workers who are overweight and have other chronic conditions
  • 45o million work days missed every year by full-time employees who are overweight and have chronic conditions

Wellness programs lead to prevention which means better business, higher profits.

 

Employee Benefit Advisors provides employee benefits, tax-advantaged healthcare, compliance guidance for ACA and Health & Welfare DOL Audits, and PEO Advisory & Consulting Services. We can customize a wellness plan for your budget and culture.

 

The Grandson’s Burden

By March 2nd, 2016   Healthcare

Sixty-four year-old grandfathers incur nine times more medical expenses than their eighteen year-old grandsons. But under small group ACA adjusted community rating, their health premiums can be no more than three times the cost charged to their second generation progeny, who now pay more to subsidize their forefathers.

Female rates have always been within the 3:1 age ratio due to the expenses of childbearing years. So the major impact of ACA adjusted community rating falls on the cost of young men.

The ACA also eliminated health risk rating for small groups. Thus small employer groups composed chiefly of young male or healthy employees are paying much higher health premiums than necessary to cover their risk.

Many small employers are migrating from fully-insured plans that are priced by adjusted community rating to partially self-funded plans that are priced for their own employees’ actual age, gender, and health risk profile.

Employee Benefit Advisors can help you with Level Funding, Traditional Self-Funding, and Employer Group Stop Loss Captives. Employee Benefit Advisors provides employee benefits, tax-advantaged healthcare, compliance guidance for ACA and Health & Welfare DOL Audits, and PEO Advisory & Consulting Services.

A special thanks to TCC Benefits Administrators for the content in this blog.

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