by Admin. | Nov 6, 2011
Health & Wellness
Aetna’s Community Vitality.com. – You can find games, videos and a fitness tracker to help the whole family get moving more. Aetna and Magic Johnson Enterprises have a game plan for you.
The data is quite clear that Wellness plans pay for themselves.
Although employers continue to use cost shifting to control health insurance expenses, many companies are also making wellness programs part of the overall strategy to keep costs down by keeping staff members healthy.“Our entire health care system is organized around treating diseases after they occur, not preventing them before they occur. We need a paradigm shift that places prevention at the center of our health priorities.” – Lynn C. Swann, Chairman, President’s Council on Physical Fitness and Sports
One survey of 365 companies found that 62 percent have implemented wellness programs as a long-term investment to improve employees’ health. Of these companies, about two-thirds cited rising health care costs as a “major factor” in the decision to sponsor a program, and the other third responded that finances played “some role” in the decision.
In another survey, 80 percent of business executives said the best way to reduce health care costs is to provide financial incentives for employees to lead healthier lifestyles.
At the top of the list of wellness initiatives are health risk assessments, followed by smoking cessation programs. The surveyed companies also offered:
- Health risk assessments – 61 percent
- Smoking cessation programs – 56 percent
- On-site workout facilities – 50 percent
- Employee diet groups – 48 percent
- Adding healthier foods to the cafeteria menu – 48 percent
- Subsidized gym programs – 43 percent
- Allowing employees to use time during the workday to exercise – 27 percent
- Diet counseling – 27 percent
- Other initiatives, such as free flu shots, healthier vending machine choices, wellness Web sites, and on-site massages – 32 percent
Almost half of the companies with wellness programs offered employees incentives to participate, such as cash payments, reduced medical co-payments, rebates on wellness program costs, gift certificates and prizes.
While the surveys cited above focused on large companies, small and midsize businesses are also offering wellness initiatives. The National Federation of Independent Business reports that more than 80 percent of businesses with 50 or more employees have implemented some type of wellness program.
Most companies acknowledge that the payoff won’t come immediately. Employers were asked, “Do you believe that helping employees lead healthier lifestyles will make a noticeable difference to the company’s health care costs?” Eighty percent of respondents said “Yes, but it will take a while to see results.” Only four percent expected immediate improvement. Another 14 percent thought an impact on health care costs was a possibility, but said they had other reasons for participating.
The actual financial savings a company will realize from a wellness initiative is impossible to predict. It depends on the type of program and extent of employee participation. Of course, participation can be affected by factors such as incentives to join, awareness of the initiatives, and how the employer supports the program.
Keep in mind that wellness programs can do more for a company than just contain health insurance costs. Healthier employees are likely to be more productive, have fewer absences, and have better attitudes towards their jobs. Sponsorship of wellness programs can also enhance a company’s recruitment efforts and improve its image in the community.
by Admin. | Jul 1, 2011 | Wellness
Although employers continue to use cost shifting to control health insurance expenses, many companies are also making wellness programs part of the overall strategy to keep costs down by keeping staff members healthy.
“Our entire health care system is organized around treating diseases after they occur, not preventing them before they occur. We need a paradigm shift that places prevention at the center of our health priorities.” – Lynn C. Swann, Chairman, President’s Council on Physical Fitness and Sports[/box]
One survey of 365 companies found that 62 percent have implemented wellness programs as a long-term investment to improve employees’ health. Of these companies, about two-thirds cited rising health care costs as a “major factor” in the decision to sponsor a program, and the other third responded that finances played “some role” in the decision.
In another survey, 80 percent of business executives said the best way to reduce health care costs is to provide financial incentives for employees to lead healthier lifestyles.
At the top of the list of wellness initiatives are health risk assessments, followed by smoking cessation programs. The surveyed companies also offered:
- Health risk assessments – 61 percent
- Smoking cessation programs – 56 percent
- On-site workout facilities – 50 percent
- Employee diet groups – 48 percent
- Adding healthier foods to the cafeteria menu – 48 percent
- Subsidized gym programs – 43 percent
- Allowing employees to use time during the workday to exercise – 27 percent
- Diet counseling – 27 percent
- Other initiatives, such as free flu shots, healthier vending machine choices, wellness Web sites, and on-site massages – 32 percent
Almost half of the companies with wellness programs offered employees incentives to participate, such as cash payments, reduced medical co-payments, rebates on wellness program costs, gift certificates and prizes.
While the surveys cited above focused on large companies, small and midsize businesses are also offering wellness initiatives. The National Federation of Independent Business reports that more than 80 percent of businesses with 50 or more employees have implemented some type of wellness program.
Most companies acknowledge that the payoff won’t come immediately. Employers were asked, “Do you believe that helping employees lead healthier lifestyles will make a noticeable difference to the company’s health care costs?” Eighty percent of respondents said “Yes, but it will take a while to see results.” Only four percent expected immediate improvement. Another 14 percent thought an impact on health care costs was a possibility, but said they had other reasons for participating.
The actual financial savings a company will realize from a wellness initiative is impossible to predict. It depends on the type of program and extent of employee participation. Of course, participation can be affected by factors such as incentives to join, awareness of the initiatives, and how the employer supports the program.
Keep in mind that wellness programs can do more for a company than just contain health insurance costs. Healthier employees are likely to be more productive, have fewer absences, and have better attitudes towards their jobs. Sponsorship of wellness programs can also enhance a company’s recruitment efforts and improve its image in the community.
by Admin. | Sep 5, 2023 | group health insurance, Health Care Reform, healthcare, HR, HSA, Wellness
To prepare for 2024 open enrollment, health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan.
by Admin. | Sep 5, 2023
To prepare for 2024 open enrollment, health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan.
by Admin. | Nov 22, 2022 | Health Care Reform, healthcare, HR, HSA, Tax
To prepare for 2023 open enrollment, health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan.
by Admin. | Nov 13, 2022
2023 Oxford Metro Network NY-For 2023 the network has expanded 15% in NY and added the NJ network last year. In 2022 most Metro plans stayed flat and for 2023 increasing single digits. Best oxford value on the market.
by Admin. | Nov 10, 2022 | Cybersecurity, Small Business Group Health, Technology
2023 Innovations That Will Change Business.Adoption of Disruptive Technology.CyberSecurity.PEO.Remote Work.Going Virtual,AR, VR & Metaverse. PEOs for start-ups are considered to be one of the most important innovations for this year because it allows businesses to focus on marketing and strategizing their products or services. Removing the unnecessary burden that HR tasks and functions bring to employers and employees.
by Admin. | Jul 27, 2022
Are you a start-up? Can’t afford health coverage? Is your NY Group Policy increasing 15% in 2023?
The Health Care Reform Act of 2000 introduced the Healthy NY program to provide more affordable health insurance to New Yorkers who need it most. Healthy NY insurance program was designed to promote and provide affordable insurance coverage to eligible small businesses without health insurance coverage for their employees and, also, for eligible working uninsured.
The Healthy NY program includes benefits that cover essential health needs including:
- Inpatient and outpatient hospital services
- Emergency and Urgent Care
- Office Visits: Primary Care and Specialist
- Preventive Care
- Wellness
- Prescription Drugs
- Physician services
- Maternity care
- Preventative health services
- Diagnostic and x-ray services
- Mental Health and Substance Use Services: Inpatient and Outpatient
- Additional Services, Equipment & Devices: Autism Spectrum Disorder Diagnosis and Treatment, Hospice, Diabetic Equipment andSupplies, Durable Medical Equipment and Braces, Hearing Aids, Cochlear Implants, Medical Supplies and Prosthetics
- Pediatric Dental & Vision
| Metallic Level |
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Gold
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| Product/Network/Gatekeeper |
G HNY HMO Metro Gated OHP |
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| InNetwork Copayment |
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$25/$40 |
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| Out of Network Reimbursement |
N/A |
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| InNetwork Coinsurance % |
80% |
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| InNetwork Maximum Out of Pocket |
$4000/$8000 |
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| InNetwork Deductible |
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$600/$1200 |
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| Out of Network Coinsurance % |
N/A |
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| Out of Network Maximum Out of Pocket |
N/A |
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| Out of Network Deductible |
N/A |
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| Deductible Accumulation Period |
Contract Year |
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| Pharmacy |
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$10/$35/$70 |
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| Dependent Cutoff Age |
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26 Dependent – Standard |
ELIGIBILITY:
30% of the small employer’s eligible employees must earn $45,450 or less in annual wages and those small employers must offer Healthy NY to all employees who work 20 or more hours per week and earn $45,450 or less in annual wages. Additionally, at least one employee who earns $45,450 or less annually must enroll in Healthy NY.
Tax Advantages and Benefits of Providing Health Insurance
Significant tax advantages may be available to your business by offering health insurance coverage. Health insurance premiums that businesses pay on their employees’ behalf are generally 100% tax deductible. Providing health insurance coverage may also result in reduced payroll taxes. Additionally, if a business establishes a Section 125 plan, employees’ share of the premiums can be paid with pre-tax dollars, resulting in tax savings for both employees and the business.
Applicants may now also choose a benefit package with a limited prescription drug benefit or a benefits package without a prescription drug benefit.
APPLICATION & RECERTIFICATION: Healthy NY will only be available to groups with 1-50 FTE’s in 2022 per guidance from the NYS DFS. Please see the attached guidance released. It is important to note that while the definition of “small employer” is increasing from an employer with 50 or fewer employees to an employer with 50 to 100 employees as of January 1, 2022, only employers with 50 or fewer employees will be eligible for Healthy NY. Please see on page 2 of the attached here
MONTHLY RATES for 2022
Plan Type
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Rate
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| Individual |
$809.52 |
| Two Adult |
$1,619.04 |
| Parent & Child(ren) |
$1,376.18 |
| Family |
$2,307.13 |
