Combining Employee Wellness & Risk Management

Combine your workplace wellness program with your risk management and safety program and you could see big savings on your workers’ compensation costs.

Workers’ compensation is one of a business’ largest operational expenses—and costs are on the rise. According to the Insurance Information Institute, medical costs will account for up to 67 percent of total costs of workers’ compensation claims by 2019.

Integrating workplace wellness with your risk management program can help you control workers’ compensation claim costs by reducing both return-to-work days and the frequency and severity of claims. Not only will you see savings in your employee health care benefits, but you’ll also see a drop in the medical costs associated with workers’ compensation claims.

Workplace wellness programs often focus on risk factors such as smoking and obesity, which lead to higher health insurance premiums. But weight management and fitness also affect on-the-job safety and are risk factors for accidents as well. By integrating your risk management program with your workplace wellness program, you can focus on the total wellbeing of your workers—improving their personal health and fitness while also preventing work-related injuries and illnesses.

So where do you start with integrating these two programs to create one healthy workplace culture? Or what if you don’t even have a wellness program in place yet? Every company is different, and there is not a one-size-fits-all approach that will work for every employer. Consider making a series of small changes first. Start a walking program, which is usually little or no cost. Put healthy food options in the vending machine. Or offer on-site weight management and smoking cessation counseling. Work toward creating a program that tracks participants’ progress.

If you need assistance getting started, I have a variety of workplace wellness resources and tools, in addition to resources to reduce workers’ compensation costs. You’re welcome to contact me if you would like to discuss.

-JCK

Credit: Zywave, Inc.

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About Jim Kinmartin - CA Small Business Insurance Agent/Broker

Jim is a California licensed Property & Casualty AND Accident & Health insurance agent working at the ISU - Olson Duncan Insurance brokerage in Torrance, CA. He grew up in Fullerton, CA and graduated from Servite High School in Anaheim and Loyola Marymount University in Los Angeles and currently lives in Long Beach, CA. Have questions? Just ask! Or, follow Jim on Twitter at @JimKinmartin

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