Improve your Company's Bottom Line
- Drug benefit premiums have risen 33% over 3 year period (2002-2004), total group health premiums rose 13.9% in 2003 and 11.2% in 2004 and 9.2% in 2005
- Benefits presently account for 36% of Total Labor Costs
- Prescription Drugs represent 70 – 90% of employer paid expenditures
- In Canada, only 23.9% of companies reported that they have been evaluating their wellness programs regularly, which makes management unclear on the full scope of benefits being realized.
- Medical costs increase 4% ($119.7 US) per BMI unit increase
- Pharmaceutical costs increase 7% (82.6 US) per BMI unit increase
- Musculoskeletal Disease (Economic Burden) 30 billion (Direct and indirect) (Canada), $937/person 254 billion per year $850/person
- Most companies are getting the output of about 50-70 workers for every 100 people they employ. Much of the difference is due to increasingly high stress levels.
(HR Magazine)
- In terms of lost hours due to absenteeism, reduced productivity, and workers compensation benefits, stress costs about $7500 per worker per year.
(American Psychological Association)
- Since 2000, the percentage of firms offering health benefits has fallen 8% to 60% form 69%. Source: Kaiser/HRET Survey of Employer-Sponsored Health Benefits 1999-2006
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