Chronic illnesses and diseases can take a major toll on worker productivity as well as significant increases in the cost of maintaining healthcare insurance plans for workers. In recent years, the costs associated with medical issues related to obesity have soared for companies of all sizes. Obesity, which is closely linked to heart disease, stroke, diabetes, certain types of cancer, and other serious medical conditions, has tangible financial costs for employers who provide health benefits to their employees and face ever-increasing health insurance premiums. In addition, all employers risk incurring obesity-related costs in the form of lower employee productivity, increased workers’ compensation claims, and other workplace issues.
The primary benefit is improved worker health. Not only is this important to workers and their families, but pragmatically, healthier workers require less medical care, so insurance costs are kept low. Plus, healthy employees are happier and more productive. Of course, offering a wellness program at work can also serve as a major incentive to attract better talent and to retain existing employees, so turnover and its associated costs are avoided.
Absolutely. People with chronic health issues including obesity also tend to be more likely to have work-related injuries. Maintaining a wellness program at work and promoting better overall health for employees can also have a direct impact on costs associated with injuries sustained at work.
Medical expenses for obese employees are estimated to be 42% higher than for those with a healthy weight, according to the CDC. Costs related to medical expenses, however, don’t necessarily account for the lion’s share of the financial burden on employers.
The cost of obesity, including medical expenditures and absenteeism, for a company with 1,000 employees is estimated to be $277,000 per year according to the CDC.
At WellessenceMD, workplace wellness programs can be customized to the needs of the business and its workers. The first step in determining needs is to schedule a free consultation.