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Health Savings Accounts Increase Participation in Wellness Programs

Posted Aug 26 2008 4:30pm
Health Savings Accounts reduce costs by encouraging wellness and prevention. There is a built in incentive to stay healthy. Consumers have an incentive to shop around and save money, to adopt healthier lifestyle habits and take steps to prevent costly conditions. A recent Mckinsey Survey found that employees enrolled in CDHC ( Consumer Directed Health Care)plans were 20% more likely to report interest in wellness programs, 25% more likely to adopt healthy behaviors and 30% more likely to schedule checkups.



The other benefit of Health Savings Accounts is they are more affordable for small businesses than traditional accounts, enabling employers who could not afford health coverage for their workers to begin. A US Treasury analysis found that 33% of businesses who using these types of accounts previously did not offer health care coverage for their workers. 31% if the employees now covered had no health insurance coverage before.Golden Rule Insurance Co. enrolled 90 percent of its 1,300 employees the first year, cutting health care costs 40 percent. Preventive care increased 20 percent.



Coupled with a wellness program like that offered by ConAgra Foods for example, where the employer offers free health screenings for blood pressure and diabetes businesses can expect a return on investment of three to five times by reducing costs for sick leave, disability, hospitalizations as well as increased productivity and enhanced recruitment.
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