The Detroit Regional Chamber’s Wellness Works is hosting an upcoming Employer Forum: Navigating Health Care Value and Cost Management for Businesses, hosted in partnership with Blue Cross Blue Shield of Michigan on June 23, 2023, at 9 a.m. at the Henry, Autograph Collection in Dearborn.
The in-person discussion will provide insights from regional leaders on health care value and cost management for employers, the aging workforce, and what that means for business. A focus on how caregiving responsibilities affect the workplace will also be addressed. In the meantime, we will briefly discuss some of these topics to better understand what benefits this forum will have for you and your company.
Health Care Value
We know that health care costs play a major role in the lives of people everywhere. But to put into perspective, according to the CMS, “U.S. health care spending grew 2.7 percent in 2021, reaching $4.3 trillion or $12,914 per person. As a share of the nation’s Gross Domestic Product, health spending accounted for 18.3 percent.” Health expenditures in the U.S. has been a topic of conversation for decades, specifically revolving around how this will affect the economy as a whole.
Results of High Cost in Health Care
- Higher taxes to fund public health care.
- Increased government borrowing.
- Reduced government investment in other sectors such as education and infrastructure.
- Employees will have less income to purchase other goods and services.
- Reduced access to health care for lower-income individuals.
More detailed descriptions of the effects of high health care costs can be found here.
Wellness Programming for Your Employees
Health care costs are a burden on employers and employees alike. There’s never been a better time to implement wellness programs in your workplace to further support your employees and also help lower your company’s health care costs. Give your employees the benefits and opportunities they need to succeed at work.
Why Focus on Workplace Wellness?
- Retain and attract top talent.
- Increased productivity, engagement and overall satisfaction with the work environment.
- Decreased absenteeism and “quiet quitting”.
Top Trends to Implement in Your Workplace
- Focus on flexibility.
- Fight burnout with time off.
- Support employees that are also caregivers.
- Offer financial education and support.
- Prioritize mental health.
- Develop a sense of belonging in the workplace.
When your employees are well, so is your business. Interested in improving your workplace? Click here to register for the Employer Forum: Navigating Health Care Value and Cost Management for Business. Be sure to view our website and sign up for our newsletters to stay in the know about workplace wellness.