As health care costs continue their meteoric rise, small businesses are caught in the middle.
Attractive benefits bring employees, but costs of offering health insurance threaten entrepreneurs’ very existence.
Madison Health Partners reintroduced itself and provided valuable information for the business community on Tuesday during its “Strategies for Managing Increasing Health Care Costs” breakfast forum at Anderson Country Club.
Jeffrey Hadden, principal partner at LoCascio Hadden & Dennis, LLC delivered a presentation on health care alternatives before 25 members of the business community. He said consumer-driven health plans and wellness programs are emerging as viable measures to reduce cost.
According to Hadden’s presentation, employees in consumer-driven health plans are 25 percent more likely to engage in healthy behaviors, 20 percent more likely to follow treatment regimens for chronic condition and 20 percent more likely to join employer-sponsored wellness programs.
“You need to understand the difference between wellness and preventative care,” Hadden said. “If you allow your employees to go for their annual checkup, that’s preventative care. Wellness means smoking cessation and programs to fight obesity.”
Rob Spaulding, who handles business and administration for Madison Park Church of God, said the church had implemented some of its own programs.
“It’s not as organized as I’d like, but certainly we’re dipping our toes into it,” Spaulding said. “The idea is to shift some of the responsibility to the consumer, from the employer.”
Dan Sager of the Anderson Family YMCA said the organization had helped employees pay the cost of membership to foster long-term health.
“Employees have become a lot more aware of the cost,” Sager said. “They’re taking ownership of their own health.”
Hadden used the image of an iceberg to illustrate the true cost of employee health problems. Above the water line was $7,089 in per-employee, per-year health costs and below the line was the $14,718 in productivity costs related to employee health.
While Hadden said many employees perceive high deductible health plans, health savings accounts and health reimbursement accounts as a negative, they can help the overall business and secure employment for the long term.
“Employees will immediately perceive it as a benefit take-away,” Hadden said. “You need to work with them to show them that this will actually be a benefit.”
Madison Health Partners is a volunteer, community-based organization that operates solely on the contributions of businesses and individuals. Its mission is to improve the quality, cost and access to health care for residents of Madison County.
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