Smaller Companies Value Wellness Programs, Fall Short on Implementation
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The Guardian Life Insurance Company of America, June 2007
A report from The Guardian Life Insurance Company of America (Guardian) reveals gaps between business owner/decision maker beliefs about wellness and employee benefits programs and actual business practices.
For instance, 82 percent of small employers, 90 percent of midsize employers and 99 percent of large employers see value in implementing wellness programs. Yet only 57 percent of the small businesses that value wellness programs have implemented some type of plan. This is compared to greater adoption in larger companies: 79 percent of the midsize businesses and 90 percent of large businesses that value wellness programs have one in place.
Also according to the study, among employers that see a value in wellness programs, 68 percent of small employers, 78 percent of midsize employers and 69 percent of large employers want their insurance carriers to play a role in helping their company implement wellness and prevention programs to help reduce absenteeism and healthcare costs.
When it comes to the cost of healthcare there were no gaps or discrepancies. Across the board, respondents believe that controlling medical costs is the most serious immediate and long-term business challenge.
When asked to rate the seriousness of various business challenges, controlling medical costs was rated the biggest challenge by all business sizes. Considering the business environment five years from now, controlling medical cost remained the top challenge with a slight increase across the board.
An independent New Jersey-based research firm conducted the survey for Guardian. 300 telephone interviews among a national sample of employee benefits decision makers were conducted from February 20 through March 7, 2007.
