When it comes to containing or reducing health benefit costs, as in most areas of human endeavor, the simplest strategies are often the most effective.
For example, applying the old adage, œWhat gets measured, gets done puts a spotlight on wellness programs and employee accountability. Common sense perhaps, but the new changes to HIPAA come into play here and limit what you can measure.
The good news is that as long as participation is measured and incentives are structured to reward participation, the new rules provide a lot of freedom. Simply said, what you cannot do is base accountability and incentives on the results employees achieve when they participate in wellness programs. (For a detailed discussion on incentives and HIPAA compliance, click here.)
Here are a few more well-known wellness program observations:
Despite being well document facts, these four observations are well on their way to becoming platitudes, even trite truisms. Perhaps more valuable for the CFO is an understanding of how accountability under pins each of these. Asking employees to take accountability for their health and subsequent consumption of benefits is not a one-dimensional affair.
At Beneflex, we have proven the effectiveness of a wellness program is critically dependent upon a long-term, integrated approach with accountability being shared from the top to the bottom of your organization. We have also learned the most significant cost control results are achieved when self-funding is coupled with an effective wellness program.
If you would like to learn more about wellness strategies that work, or any other aspect of cost control, click here.
